Kalamazoo Resources (ASX:KZR) to own 55pc stake in new lithium-IPO, listing 2H 2023

Sonia Madigan:

I’m with Kalamazoo Resources Executive Director Paul Adams here at the Kalgoorlie
Diggers & Dealers mining forum. Now Paul you’re here with Kalamazoo but soon there’s going to be another company born out of Kalamazoo.

Paul Adams:

Yep, that’s absolutely right. So we’ve got Kali Metals which is a 100 per cent subsidiary of Kalamazoo. We’ve combined our resources in the lithium space with Karora and we’re going to come together and form Kali Metals and that’ll be one of the newest IPOs for lithium in Western Australia.

Sonia Madigan:

Well, certainly there haven’t been many IPOs this year. Is it a bit of a risky time to be putting your hat in the ring as far as IPOs go?

Paul Adams:

Look you know you could say that but at other times it’s you know when would you do it and we still know that demand for lithium is going to be super strong going forward and you know time is right now we’ve got the right partner. Karora has been absolutely fantastic to deal with, and we aim to list mid-October.

Sonia Madigan:

Well, certainly here at Diggers and Dealers, most presentations are in the battery metal space. Now you’re in the Pilbara, but you also have lithium assets in other parts of the country?

Paul Adams:

Yeah, so our original assets are in Pilbara, around Marble Bar, so those assets are going into Kali. We joined forces with Karora, so we’ve got lithium rights from Karora’s gold ground, that’s going into Kali, so that’s south of Kambalda, between Kambalda and Norseman, and we’ve also got a large land package in the East Lachlan Fold Belt, Northern Victoria, Southern New South Wales, which is very green stone, very
green fields, and yeah it could be anything, could be a company maker there as well.