Jindalee Lithium (ASX:JLL) divested its stake in Dynamic Metals (ASX: DYM) for AU$2.8 million before costs, according to a Tuesday Australian bourse filing.
Dynamic was previously a unit of Jindalee holding its Australian exploration assets. It was spun out of the firm in January 2023 following an IPO, leaving Jindalee as a pure-play US lithium company.
The proceeds from the sale of Dynamic shares will allow the firm to focus on activities at its McDermitt lithium project in the US.
Jindalee Lithium's shares rose 5% on market close on Tuesday.
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