Reed considers approaches for Mt Marion

Reed Resources has appointed Gresham Advisory Partners to advise it in relation to several approaches the company has received for its Mount Marion Lithium project near Kalgoorlie.

"Continued strong underlying market fundamentals, reflecting the growing strategic importance of chemical-grade lithium to developed economies, has led to increased interest in the Company and the Mount Marion Lithium Project from a range of industry participants," Reed Resources said in a statement to the Australian Securities Exchange.

"The Company has received approaches from parties proposing various transaction structures ranging from downstream toll treatment and/or joint ventures through to outright acquisition of the upstream (spodumene concentrate) operations."

Reed said that Gresham will help the company consider the best alternative for the Mount Marion project, to maximise value to shareholders.

"It should be stressed that discussions remain preliminary and there can be no assurance that a binding proposal will emerge," the statement said.

"In the meantime, Reed remains focused on obtaining approval of the mining proposal from the Department of Mines and Petroleum and will keep the market informed of future developments."