BullStreet.com.au -ASX News & Insights’ Post

In today's versatile #MarketSnapshot, we observe a peculiar downtrend in the #shareprices of some ASX-listed giants while the broader market shows positive signs. Core Lithium, Duratec, Galan Lithium, and Michael Hill International have all seen notable dips. 📉 - Core Lithium Ltd's shares dropped by 6%, possibly due to the new CEO appointment amidst volatile lithium prices. - Duratec Ltd announced a 4% fall following revenue and EBITDA forecast revisions caused by project delays. - Galan Lithium Ltd's shares plummeted by a significant 17% after they announced equity raising at below recent trading prices. - Michael Hill International Ltd saw a drastic 19% decrease in stock prices after trading updates fell short of expectations. These shifts highlight how #InvestorSentiment is swayed by company-specific news, operational shifts, and financial strategies. Today's #MarketDynamics showcase the intricate play of individual performance against the general market trend. For those interested in a detailed analysis, find the full discussion here: https://lnkd.in/gXKQH374 #Finance #StockMarket #LithiumPrices #ASX #Investment

Lithium Co. With Offtake Agreements Catches Analysts' Eyes: https://ow.ly/ZPAx50RjeVP Atlas Lithium Corporation (Nasdaq: ATLX) is garnering the attention of industry analysts due to its binding offtake agreements for its Brazilian project. At least four analysts have recommended the stock as a "Buy," recognizing the company's strong position and potential for growth in the lithium market. $ATLX #lithium #batterymetals #miningstocks

We've issued a cash notice to Ultra Lithium Inc. for the full repayment of AUD $1,098,246 under a convertible loan agreement within 10 business days. Failure to pay within this timeframe will constitute a default under the CLA and will allow us to initiate enforcement actions to recover the Debt, including by enforcing the security interests held against Ultra Lithium’s Argentinian and Canadian mineral projects. Despite prior agreements and attempts outlined in a binding term sheet, we identified key matters of concern which, in conjunction with Ultra Lithium’s lack of substantive engagement in respect of the BTS transaction, had caused serious concerns as to whether the BTS transaction would complete. Read the full ASX Announcement here: https://lnkd.in/gH5_NZSv #PNN #PowerMinerals #ASX #ASXNews #lithium #MiningNews 

Today, Leo Lithium Ltd announced an update to the Share Sale Agreement to sell the remaining 40% interest in Mali Lithium BV to GanfengLithium. Following discussions with many shareholders over the last few weeks, the Board has committed to increasing the amounts returned to shareholders. Leo Lithium is now proposing two cash distributions to shareholders with the first one, as previously announced, planned for January 2025 and a second payment in July 2025. Leo Lithium will hold its AGM, which will allow shareholders to vote on the transaction, on Wednesday, 31 July 2024, at 10:00 a.m. AWST. More information on how to vote can be found here: https://lnkd.in/gq4EzSbn The Board of Leo Lithium continues to recommend shareholders VOTE IN FAVOUR of the Proposed Transaction. Read the full update here: https://lnkd.in/geSjTatU #ASX #MiningNews #Lithium

In a letter to Arcadium’s board, our Portfolio Managers Tim Riordan and Michael Teran urged the company to walk away from any opportunistic offers. In the team's opinion, a sale price should be closer to the $US8 billion mark. “Arcadium Lithium’s share price has fallen 63 per cent this year on weak lithium markets and reached an all-time low last month,” Riordan and Teran said. Any offer would have to be at a “significant premium” to realise the company’s growth potential. “Global lithium markets appear to have bottomed out, with lithium chemical indices stabilising, and in our opinion, the timing of this potential sale could not be at a more value destructive period for shareholders.” Thank you to The Australian Financial Review for publishing the article with our Mid Cap team's perspectives. Please click the link below to read more: https://lnkd.in/gxBZPYZp #Blackwattle #Alignment #Quality #Trust Disclaimer: Equity Trustees Limited ABN 46 004 031 298 AFSL 240975, is the Responsible Entity for the Blackwattle's Funds. This information does not take into account the investment objectives, financial situation or needs of any person. Returns are not guaranteed. You should read the PDS & TMD and all Disclaimers on our website, please see links below in the comments.

Rio Tinto makes a $US4 billion bid for US listed Arcadium Lithium - an opportunistics bid given Arcadium lithium's price has fallen 63% this year on weak lithium prices. Rio should be able to win this one Goldman Sachs have noted the 250,000 tonnes of lithium carbonate equivalent that was expected in 2027 now look unlikely to be produced before 2030. Looks like there could be more #lithium companies in play soon.. #criticalrawmaterials #rawmaterials #evbatteries #batterymetals #asxnews #asx #miningnews

📢 AFR: Rio Tinto’s $9.9B Arcadium Acquisition and Its Implications for the Lithium Market A recent AFR article discusses Rio Tinto's AU$9.9 billion acquisition of Arcadium Lithium and its potential impact on the broader lithium market. E&P Financial suggests that this deal might prompt renewed institutional and M&A interest in lithium stocks, as fewer high-quality assets are now available for investment. This move comes as lithium prices begin to stabilize, potentially indicating the bottom of the M&A cycle and growing interest in lithium assets, driven by ongoing demand for electric vehicles and energy storage. Full article 👇 https://lnkd.in/gENEC5Hj #GLN #ASX #Lithium 

Australian lithium stocks could see a wave of institutional money flow their way, according to a report from E&P Financial. “Rio’s acquisition of Arcadium feels like bottom of the cycle of M&A. “We are conscious that one more M&A deal in the lithium sector would ‘light up’ equities given limited options to play this thematic globally.” Another acquisition in the works in the lithium space is the takeover of Latin Resources Limited and its flagship #SalinasLithiumProject in Brazil by #PilbaraMinerals. More at #Proactive #ProactiveInvestors #PLS #LRS #LRSRF #Liontown Anson Resources #ASN #ANSNF Green Technology Metals #GT1 #GTMLF #LTR http://ow.ly/twlJ105Mf1E

**Galan Lithium Ltd to raise $9.3m to fund #HMW Phase 1 project** - #GalanLithium has secured A$14m ($9.3m) through an equity raise at A$0.23 per share, targeting institutional, sophisticated, and professional investors. - The company will issue 56,521,740 fully paid ordinary shares at a 20.7% discount to the 15 May 2024 closing price of A$0.29 per share, along with 28,260,870 new options, subject to shareholder approval. - Directors are contributing up to A$1m, subscribing for 4,347,828 new shares and 2,173,914 new options, with these options having an exercise price of A$0.35, valid for two years. - The funds will be used for the development of the #HombreMuertoWest (HMW) Phase 1 lithium brine project in Argentina, covering development costs, corporate overheads, working capital, and transaction costs. - The equity raise, managed by Canaccord Genuity Australia and Petra Capital Pty Ltd, provides Galan Lithium with financial flexibility to continue HMW Phase 1 construction and explore alternative funding solutions such as debt and prepayment facilities. #mining #mineralexploration #mineralprocessing

As the lithium industry grows from a mid sized industry to a very large industry, there will be many JV's, consolidations, and innovations. Announcements such as this will likely become more commonplace and necessary for long-growth.