Leo Lithium (ASX:LLL) said it is progressing a small number of lithium hard rock mergers and acquisition opportunities, and while a deal is not completed, the firm is optimistic that a deal "will be announced in the current quarter," according to a Friday Australian bourse filing.
If a potential acquisition occurs after the upcoming automatic delisting date of Sept. 19, the deal structure will include an application to relist on the ASX, and Leo engaged with ASX on this process.
It received the final payment of $171.2 million on July 3 from Ganfeng Lithium Group for the sale of its 40% shareholding in Mali Lithium, the holding company of the Goulamina lithium project. It also received interest of $6.4 million on this final payment.