Global Lithium Resources (ASX: GL1)

Hi Debbie,

For members not familiar with the deal Global Lithium Resources (ASX: GL1) has agreed to a A$333m all-cash takeover by Titan Australia Mining, with Titan offering A$1.15 per share via a scheme of arrangement.

• GL1’s board has unanimously recommended shareholders vote in favour, subject to no superior proposal emerging.

The timing is particularly interesting given GL1’s recent acquisition of IGO’s Nova nickel operation for just A$7mn. An integration study released days earlier showed that converting Nova’s existing processing infrastructure could significantly improve the economics of GL1’s Manna lithium project, lifting its estimated post-tax NPV to A$946m from A$472m in the December 2025 DFS, i.e. Titans interest makes sense.

The key details are still to emerge including the scheme timetable, independent expert’s report, regulatory conditions and further information on Titan Australia Mining’s ownership, all of which will be important in assessing the likelihood and timing of completion.

We believe the deal should go ahead after years of pain for shareholders and with the board onboard that’s a big tick, the stock trading ~$1 says it’s likely but there’s always some risk as we’ve seen a number of times in recent years.

• We would apportion an 90% chance that this deal goes ahead.

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Global Lithium Resources (GL1)

LAST UPDATED 02/10/2026 11:10

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Global Lithium Resources (GL1)

LAST UPDATED 02/10/2026 11:10