Thomson Geer advises Delta Lithium and Ballard Mining on demerger and IPO

Thomson Geer has advised gold mineral exploration company, Ballard Mining Limited, on its demerger from Delta Lithium Limited (ASX:DLI) as well as its successful $30 million initial public offering and listing on the Australian Securities Exchange.

Ballard was established to implement a demerger undertaken by lithium-focused exploration and development company, Delta for the purposes of maximising the value of and accelerating exploration on the gold asset at the Mt Ida Project in Western Australia.  

The demerger was effected via an equal capital reduction and in-specie distribution of fully paid ordinary shares in Ballard to existing Delta shareholders. The demerger provides Delta shareholders with the opportunity to participate in the growth and development of the gold project through a separate entity that will have sufficient resources to further develop the gold project and optimise its potential value, while maintaining their investment exposure to Delta's lithium projects.

The IPO was fully subscribed and raised the maximum amount of $30 million. Funds raised from the IPO will be used to explore and develop the gold asset at the Mt Ida Project. The IPO will generate future opportunities for the growth and development of the gold project and will play a crucial role in Ballard achieving its objectives by providing Ballard with valuable capital to fund the exploration of the gold project and working capital requirements.

The Thomson Geer team was led by Partner David Church who said: "It has been a pleasure assisting the teams at Delta and Ballard as we successfully navigated the demerger, IPO and Ballard's debut onto the ASX. We wish them every success with their future exploration projects."

Managing Director of Ballard, Paul Brennan commented: "We thank the Thomson Geer team for their outstanding support and guidance through our IPO journey and successful listing on the ASX. Their deep expertise, commercial insight and unwavering commitment made a complex process seamless from start to finish. The team was responsive, pragmatic, solution-focused and played an integral role in the success of Ballard's IPO and ASX listing. We look forward to continuing our relationship in the years ahead."

Managing Director of Delta and Non-Executive Director of Ballard, James Croser commented: "We are thankful to the team at Thomson Geer for their exceptional support and expertise throughout Ballard's demerger and subsequent IPO on the ASX. Their guidance was instrumental to navigating the legal and regulatory complexities of the transaction, and their commercial approach ensured we met our strategic objectives on time and with confidence. We greatly appreciate their contributions and look forward to working together in the future."

The Thomson Geer team was led by Partner David Church, who was supported by Senior Associate Kajal Parmar and Associate Ariane Moir.

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