Global law firm Ashurst advised Lithium Plus Minerals (LPM) in relation to its IPO which raised the maximum subscription of A$10 million, at A$0.25 per share. Shortly after the IPO the shares traded at over A$1.00 per share demonstrating the high levels of interest in quality lithium exploration companies.
LPM is a mineral exploration company with exploration licences located in an emerging lithium discovery province in the Bynoe and Arunta regions of the Northern Territory.
The IPO will provide LPM with funds to undertake further exploration work, with the goal to define a mineral resource that can be taken through to production.
Partner Murray Wheater commented:
"It has been an absolute pleasure to support the directors of Lithium Plus Minerals on their IPO on the ASX with a view to developing their exciting lithium exploration projects in the Northern Territory. We wish them all the best with their exploration programme."
The Ashurst team was led by partner Murray Wheater, assisted by senior associate Fran Barber and associates Mengting Wang and Renee Xue (Corporate Transactions); partner Jennie Mansfield and associate Alexandra Goodman (Employment).
