16/2/2019 – Two Shields Investments PLC said Monday it has completed the sale of all of its Mali-based lithium permits and licences.The investment company signed two binding heads of agreement with Australian firm Leopard Lithium Pty Ltd in late August to sell interests in Nashwan Holdings Ltd and Mansa Lithium Inc.
Two Shields directly held a 30% stake in Nashwan, and indirectly held 40% of Mansa through its 40% holding of Xantus Inc, the parent company of Mansa.
Under the agreement, Two Shields received 531 shares in Leopard Lithium, representing a 26.5% shareholding. The company continues to retain its 40% holding in Xantus which owns four lithium exploration permits in Niger.
Chair Andrew Lawley said: « Completion of the sale of the Mali located lithium assets represents further progress from the TSI board in delivering on its stated strategy of divesting its legacy commodity-based assets as we seek to focus our attention and resources on our high growth potential tech opportunities.
« We look forward to reporting further progress by Leopard Lithium on the development of the lithium licences and on further developments in our other commodities based interests. We remain strongly of the opinion that this course of action will ensure the best possible outcome for TSI shareholders in relation to these assets. »
Shares in Two Shields Investments were 0.4% higher in London on Monday at 0.13 pence each.
Alliance News | Paul McGowan