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ASX:CXO

12 stories mentioning ASX:CXOUpdated 14d ago

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Asia

Core Lithium Deal Partner Axiant Resources Files IPO Prospectus

Core Lithium (ASX:CXO) said Axiant Resources, which recently agreed to acquire the company's gold and non-lithium exploration assets, lodged a prospectus for an initial public offering targeting gross proceeds of up to AU$10 million, according to a Thursday filing with the Australian bourse.The IPO of 40 million to 50 million new shares at AU$0.20 each includes a priority offer for eligible Core Lithium shareholders in Australia and New Zealand. Axiant will reserve a minimum of AU$5 million for allocation to Core shareholders under the priority offer, per the filing.Core Lithium will receive 20 million Axiant shares and as many performance rights as consideration for the exploration assets deal.The company said it expects to have a stake of between 28.6% and 33.3% in Axiant on an undiluted basis following the IPO's completion. On a fully diluted basis, Core's stake in Axiant will be between 41.9% and 47%.Shares of Core Lithium gained nearly 1% in recent Thursday trade.

ASX:CXO
Asia

Core Lithium Spins Out Gold and Non-Lithium Tenements Via Share Sale to Axiant Resources

Core Lithium (ASX:CXO) said it has signed a share sale agreement with Axiant Resources for the sale of all shares in two wholly owned subsidiaries holding its gold and non-lithium tenements, according to a Friday Australian bourse filing.The company said it will retain exposure to the assets and gold price through ownership of 20 million ordinary shares in Axiant and up to 20 million performance rights as consideration for the acquisition, enabling Core to focus on the Finniss lithium project and the exploration and development of its other lithium assets.Axiant's board will include retiring Core Chair Greg English as non-executive chairman and Dan Travers as chief financial officer, with Axiant intending to undertake an initial public offering to raise between AU$8 million and AU$10 million before costs, with eligible Core shareholders entitled to participate in a priority offer, the filing added.

ASX:CXO
Asia

Core Lithium Says First Shipment of Lithium Fines, Spodumene Concentrate Departs Northern Territory Port

Core Lithium (ASX:CXO) said the first shipment of 20,000 tonnes of lithium fines and 5,000 tonnes of stockpiled spodumene concentrate departed from the Darwin port in the Northern Territory, according to a Monday Australian bourse filing.The company also said that Develop Global (ASX:DVP) mobilized to site, and underground decline development activities began at its Finniss lithium project in the Northern Territory. Ground support for the BP33 deposit portal face location was completed in preparation for site handover and commencement of the portal cut.First development ore from the BP33 deposit is expected in mid-2027.

ASX:CXOASX:DVP
Asia

Core Lithium Commences Brownfields Exploration Program at Finniss Lithium Operation

Core Lithium (ASX:CXO) began a near-mine brownfields exploration program at its Finniss Lithium Operation in the Northern Territory, designed to support resource growth and mine life extension, according to a Friday Australian bourse filing.The company said the program is focused on the Blackbeard prospect, its priority growth opportunity at Finniss, designed to support a maiden mineral resource estimate and assess Blackbeard's potential as a future source of high-grade ore feed.Up to 12,150 meters of diamond drilling will test the continuity and quality of lithium mineralization, enabling geological interpretation and assessment of the potential for mineral resource estimation, the filing added.The company said it has also consolidated its tenement portfolio with the acquisition of the Bynoe Lithium tenement from Charger Metals (ASX:CHR), including nearly AU$3.8 million in cash consideration on completion, a deferred cash payment of AU$1 million on a mineral resource estimate, and a 1% gross revenue royalty capped at AU$10 million.

ASX:CHRASX:CXO
Asia

Core Lithium to Spin Out Northern Territory, South Australian Exploration Assets into Axiant Resources

Core Lithium (ASX:CXO) is set to spin out selected exploration assets in the Northern Territory and South Australia into a new gold-focused company, Axiant Resources, via an initial public offering (IPO), according to a Thursday filing with the Australian bourse.The company will keep all lithium rights over the relevant tenements and retain a substantial equity stake in Axiant, while continuing its role as a lithium-focused producer, per the filing.Axiant will use IPO proceeds to explore gold and other non-lithium metals, with a prospectus expected next month and an Australian Securities Exchange listing targeted for July or August, subject to approvals and conditions, the filing said.Additionally, company Chair Greg English will retire on June 30 and is expected to become chair of Axiant, while Non-Executive Director Malcolm McComas will be appointed as the company's new chair, the filing added.The company's shares fell 2% in recent Thursday trade.

ASX:CXO
Asia

Core Lithium to Sell 25,000 Tonnes of Lithium Fines to Glencore International

Core Lithium (ASX:CXO) struck a binding agreement with Glencore International for the sale of 25,000 tonnes of lithium fines from its Finniss lithium operation in the Northern Territory, according to a Wednesday filing with the Australian bourse.Pricing under the agreement reflects prevailing lithium fines market conditions, with a base price of around $270 per tonne CIF, and shipment is expected to occur in June through the Darwin Port.The net proceeds are subject to final grade adjustments and transport costs, the company said.Core Lithium disclosed an initial sale of 20,000 tonnes of lithium fines to Glencore in April.

ASX:CXO
Asia

Core Lithium Says Mining Operations Begin at Northern Territory Lithium Operation

Core Lithium (ASX:CXO) said mining operations began at the Grants open pit, part of its Finniss lithium operation in the Northern Territory, including blasting and excavation works, according to a Wednesday Australian bourse filing.Ore from Grants is expected to be processed during the September quarter, with the first shipment of spodumene concentrate anticipated in the December quarter.

ASX:CXO
Asia

Develop Global Secures AU$274 Million Underground Mining Contract With Core Lithium

Develop Global (ASX:DVP) has secured a AU$274 million contract with Core Lithium (ASX:CXO) to deliver all underground development and production works at the Finniss lithium project in Australia's Northern Territory, according to a Wednesday Australian bourse filing.The contract covers surface infrastructure and portal development at the BP33 mine, with mobilization expected in June and mining operations scheduled to start in July, per the filing.The deal has a minimum three-year term with a two-year extension option and is expected to generate around AU$120 million in annual revenue on a steady state basis, the filing said.The company has also started work on its newly awarded five-year contract for OceanaGold's Waihi North project in New Zealand, the filing added.

ASX:CXOASX:DVP
Asia

ASX Most Active Stocks

Here are the five most actively traded big-cap stocks on the Australian Securities Exchange on Monday.Energy Resources of Australia (ASX:ERA): 28.5 million sharesCore Lithium (ASX:CXO): 19.2 million sharesArafura Rare Earths (ASX:ARU): 10.9 million sharesEQ Resources (ASX:EQR): 9.4 million sharesPredictive Discovery (ASX:PDI): 4.6 million shares

ASX 200ASX:ARUASX:CXOASX:EQRASX:ERAASX:PDI
Asia

Core Lithium Completes Second Tranche of AU$120 Million Equity Raise; Shares Fall 3%

Core Lithium (ASX:CXO) has raised about AU$67 million before costs through the second tranche of its AU$120 million equity raising, issuing roughly 320 million new shares following shareholder approval to help fund development of its Finniss lithium project, according to a Friday Australian bourse filing.Total new funding received, net of costs, now amounts to around AU$157 million, per the filing.The company shareholders also approved tranche two of the $70 million convertible notes issued to Glencore and InfraVia, representing the deferred $44 million, with completion subject to Foreign Investment Review Board approval, the filing added.The company's shares fell 3% in recent Friday trade.

ASX:CXO
Asia

Core Lithium Reports AU$91.6 Million March Quarter-End Cash Balance, Awaits Shareholder Approval for Further Funding

Core Lithium (ASX:CXO) said its cash balance stood at AU$91.6 million as of March 31, up from AU$48.7 million at Dec. 31, 2025, including tranche one of its equity raise, with a further about AU$37 million received post-quarter end from tranche one of the convertible note funding, according to a Thursday Australian bourse filing.The company said the second tranche of the funding package, comprising an equity raise of AU$67 million and convertible notes of AU$62 million, both before costs, will "significantly" add to cash reserves, subject to shareholder approval at a general meeting convened for May 5, and Foreign Investment Review Board (FIRB) approval for the convertible notes.Proceeds from the sale of the Finniss spodumene concentrate stockpile are not due to be received until June and are not included in the cash balance at the end of the quarter, the filing added.

ASX:CXO
Asia

ASX Most Active Stocks

Here are the five most actively traded big-cap stocks on the Australian Securities Exchange on Friday.Zip (ASX:ZIP): 41 million sharesArafura Rare Earths (ASX:ARU): 39.5 million sharesCore Lithium (ASX:CXO): 37.2 million sharesDateline Resources (ASX:DTR): 32.9 million sharesTabcorp Holdings (ASX:TAH): 15.2 million shares

ASX 200ASX:ARUASX:CXOASX:DTRASX:TAHASX:ZIP

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