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South East Asia Resources looks to relist on ASX as Jadar Lithium

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South East Asia Resources looks to relist on ASX as Jadar Lithium

South East Asia Resources Ltd. launched a prospectus Sept. 29 to raise up to A$5.0 million and relist on the ASX as Jadar Lithium Ltd.

The company, which previously began trading on the Australian bourse in December 1994, is undergoing a restructuring that is slated for completion in October.

In September, South East Asia Resources struck a deal to acquire five lithium-prospective exploration licenses in Serbia, two of which are near Rio Tinto's Jadar lithium project.

The Perth, Australia-based explorer previously owned the PT PAR coking coal mine and a 95% interest in the Malala molybdenum project, both in Indonesia.

South East Asia Resources is now offering 250 million shares at 2 cents each to raise the cash needed to explore and advance its Serbian lithium projects.

The company expects to resume trading on the ASX under the new ticker JDR by Dec. 8.

The IPO closes Nov. 17.