Leo Lithium Shuts Down, Distributes A$330m After Exiting Goulamina Project
ASX-listed Leo Lithium has announced it will distribute A$330 million to shareholders this year as part of its decision to wind down operations after abandoning its search for new assets.
The payout will occur in two tranches: a A$265-million dividend on October 14, followed by a further A$65-million distribution before year-end, subject to shareholder approval and tax clearances.
This comes after the company’s earlier A$207-million return in January, following the sale of its stake in the Goulamina lithium project in Mali.
Leo Lithium also plans to monetize its remaining Trailing Product Sales Fee (TPSF) and distribute the net proceeds as a third payment.
“The company will look to dispose of the TPSF as soon as practically possible, while also seeking to maximise the value achieved for shareholders,” it said in a statement.
As part of the wind-down process, Leo Lithium will scale down its organisation within six weeks and has terminated 2025 employee equity incentives, citing that vesting conditions can no longer be met.
Once regarded as Leo Lithium’s flagship project, Goulamina was a globally significant hard rock lithium resource developed with Chinese partner Ganfeng.
The company sold its stake in May last year after failing to reach a “viable agreement” with the Malian government.
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