Delta Lithium Limited
Delta Lithium Limited (formerly Red Dirt Metals Limited, renamed Apr 2023) is a lithium explorer with a global JORC-compliant resource of 36.5Mt @ 1.0% Li2O across its Western Australia projects: the Yinnetharra Lithium Project (Gascoyne Lithium Province, >3,100km2) and Mt Ida (lithium, tantalum and rubidium). Delta demerged its Mt Ida gold assets (a separate 1.1Moz JORC gold resource, 10.3Mt @ 3.33 g/t) into a newly ASX-listed company, Ballard Mining Limited, completed 14 Jul 2025, and retains a 41% equity stake in Ballard. Mineral Resources Ltd (MinRes) holds roughly 23% of Delta and Hancock Prospecting roughly 11%; Nader El Sayed chairs the board, and MinRes's board representative, Joshua Thurlow, resigned on 28 April 2026. Delta was granted an ASX trading halt on 1 Apr 2026 to respond to ASX queries arising from a media article; the stock was trading normally again by Aug 2026.
Notable vs. Peers
- Financials score of 9.2/10 is stronger than the peer average of 4.9/10.
- Trading within 6% of its 52-week low — weak recent price momentum.
Lifecycle Milestones
Not yet determined: mill, tailings facility, grid power.
Jurisdiction (40%)9/10
Western Australia: Fraser PPI 2025 is 88.53 of 100 (rank 13 of 68), which maps to 9 on this site's scale. Western Australia is a Tier-1 mining jurisdiction with stable, established mining law.
Infrastructure (40%)6.4/10
Confirmed road access at Yinnetharra Lithium Project, Gascoyne Region, Western Australia; existing mill, grid power, and tailings facility not yet researched, counted at a neutral 5/10 until established.
Nearby producing mine (20%)Not yet researched
No project coordinates on file yet, so distance to a producing mine can't be measured.
Acquisition Susceptibility
A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal in the research, a producer that already owns part of the company, is scored from its disclosed strategic shareholders. A producer that is a joint-venture or earn-in partner on the project, rather than a shareholder, isn't captured yet.
How this score is built
- Disclosed pending dealSub-score: Not scored
No pending acquisition or merger disclosed (checked)
Not scored: having no deal in flight isn't held against a company.
Weight 26.25% - Producer's strategic stakeSub-score:10/10
Mineral Resources Limited holds 22.8% (reported 11 Sep 2026) See holders
An operating producer's stake scores 8 at 5%, rising to 10 at 20% (the take-over-bid threshold) and holding there up to 50%.
Weight 25% · 49% here - Distance to a producing mineSub-score: Not yet researched
Distance not yet researched: no project coordinates on file
Distance can't be measured without coordinates, so excluded rather than counted as far.
Weight 22.5% - Lifecycle stageSub-score:3.5/10
Stage: Resource Definition
Feasibility and permitting score 10, where deals cluster, and production 5.5; earlier stages score less, down to 1 at grassroots.
Weight 15% · 29% here - JurisdictionSub-score:9/10
Australia: jurisdiction score 9/10
Our jurisdiction score, used as is: higher means lower political and permitting risk.
Weight 6.75% · 13% here - CommoditySub-score:2/10
Primary commodity: Other
Gold 10, copper 8, silver 5, nickel and uranium 4, others 2: most majors' deals are for gold.
Weight 4.5% · 9% here
Weight is each input's share of the full score. “Here” is its share of this company's score: inputs that aren't scored are left out and the rest re-weighted, never counted as zero.
Your Rankings
Management Team
CEO and Managing Director of Delta Lithium Limited; also a non-executive director of Hammer Metals Limited.
CFO and Company Secretary of Delta Lithium Limited; also a non-executive director of Javelin Minerals Limited.
Chief Executive Officer and Managing Director of Multiplant Holdings. Member of the Institute of Chartered Accountants in Australia; Bachelor of Commerce (Banking & Finance) and a Masters in Accounting; previously with KPMG providing assurance, capital markets and advisory services to Australian and international resource companies.
Non-Executive Director of Delta Lithium Limited since 1 August 2023, taking up Idemitsu Australia's board nomination right that came with its strategic investment in the company. Chief Executive Officer of Idemitsu Australia. Bachelor of Engineering (Mining), an MBA, and a Graduate of the Australian Institute of Company Directors; 23-year mining career with the last 14 years in senior management/executive roles.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
Delta Lithium's register includes three independent strategic/resource corporates each holding roughly 10% or more -- diversified miner Mineral Resources (23%), Hancock Prospecting (11%), and Japanese trading house Idemitsu (11%) -- and insider Amanda Croser bought shares on the open market within the past year.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
Delta Lithium, renamed from Red Dirt Metals in April 2023, is a Western Australian lithium explorer with two projects: Yinnetharra in the Gascoyne lithium province, covering more than 3,100 km2, and Mt Ida, which also carries tantalum and rubidium. Yinnetharra's resource is 21.9 Mt at 1.0% Li2O (March 2025), and Mt Ida's is 14.8 Mt at 1.21% Li2O (November 2025). In July 2025 Delta demerged its Mt Ida gold assets into the newly listed Ballard Mining, in which it keeps a 41% stake, and Mineral Resources holds about 23% of Delta. A scoping study on producing ore on site at Mt Ida is under way, with results expected by the end of 2026, and drilling at the Sister Sam deposit has intersected a footwall pegmatite about 100 m below the existing resource model.