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Strike Resources is looking to get a foothold in the burgeoning battery metals space with plans to spin out its lithium and graphite assets into a new IPO to be known as Lithium Energy. Strike will retain a 43 per cent stake in the new company that is slated to raise around $9 million ahead of its listing on the ASX.

ASX-listed aspiring WA iron ore producer, Strike Resources continues to make steady progress towards a final investment decision on its proposed Paulsens East iron ore mine development, approximately 140 kilometres west of Tom Price and 200 kilometres west of Paraburdoo in the Pilbara region. The Perth-based company says key project development approval applications and submissions were well advanced with Government agencies and local authorities.