Good to finally see some green on the boards!
M&A tension is getting hotter in the Lithium space, with ASX:LTR today rejecting the third takeover bid from Albemarle (NYSE:ALB).
More info below…
Certainly bodes well for the sector.
Our latest IPO in the space, Patagonia Lithium will be hitting the boards shortly as well!
Across Markets…
Australian shares were up 1 per cent by 72 points to 7034.1 at market close.
The energy sector was the best performing and surged 4.1 per cent. Materials was also in the green, up 2 per cent.
Liontown Resources shares jumped 68.5 per cent to $2.57. United Malt Group shares were up 30.8 per cent to $4.50.
BHP Group shares increased 2 per cent to $44.40.
The healthcare sector was the worst performing, it fell 1 per cent. It was one of three sectors in the red.
Telix Pharmaceuticals tumbled 3.1 per cent to $6.81. Xero shares fell 2.9 per cent to $86.43.
The major banks all rose. Commonwealth Bank shares were up 1 per cent to $96.06. Westpac increased 1.4 per cent to $21.53. ANZ edged up 0.9 per cent to $22.64. NAB shares rose 0.9 per cent to $27.66.
ANZ Bank says it expects the Reserve Bank of New Zealand to increase its rate by 0.25 of a percentage point to 5 per cent at its meeting next Wednesday.
Source: AFR/Stockhead
Emerging battery metals producer Liontown Resources (ASX: LTR) has rejected an unsolicited indicative takeover offer from Albemale Corporation (NYSE: ALB) on the grounds that it undervalues the company.
The offer was received this week and proposed the acquisition of all Liontown shares at $2.50 each via a scheme of arrangement.
It was subject to a number of conditions before it could become binding, including the provision of exclusive due diligence to Albemarle and a unanimous recommendation by Liontown’s board of directors.
Liontown’s board — together with financial adviser Greenhill & Co and legal adviser Allens — determined that Albermarle’s offer “substantially undervalues” the company and is therefore not in the best interests of shareholders.
This week’s offer marks Albermarle’s third attempt at buying out the junior explorer.
In October, Liontown rejected an indicative takeover offer priced at $2.20 per share and earlier this month, also rejected an offer at $2.35 per share.
Albermarle subsidiary RT Lithium Ltd is also believed to be building a stake in Liontown through on-market purchases and currently holds approximately 2.2% equity.
Source: SmallCaps
Sector: Uranium
Deal Type: IPO
Raise Amount: $7.5M
Latest Entry Price: $0.20
Today’s Price Change: $0.24 +2.13%
Company: Unith Ltd. (ASX:UNT)
Sector: AI/ChatGPT
Deal Type: Placement
Raise Amount: $4.5M
Latest Entry Price: $0.033 with a 1:1 UNTO
Today’s Price Change: $0.032 +10.34%
Company: Volt Resources Ltd. (ASX:VRC)
Sector: Battery Metals
Deal Type: Placement
Raise Amount: $5.75M
Latest Entry Price: $0.011
Today’s Price Change: $0.01 Unchanged
Company: Castle Minerals Ltd. (ASX:CDT)
Sector: Battery Metals/Base Metals
Deal Type: Placement
Raise Amount: $1.52M
Latest Entry Price: $0.03 with a 1:3 CDTOA
Today’s Price Change: $0.019 +5.56%
Company: Avenira Ltd. (ASX:AEV)
Sector: Phosphate
Deal Type: Placement
Raise Amount: $2.1M
Latest Entry Price: $0.01 with a 1:2 Listed Option
Today’s Price Change: $0.013 -7.14%
Company: Latrobe Magnesium Ltd. (ASX:LMG)
Sector: Magnesium
Deal Type: Placement
Raise Amount: $3M & $11.5M
Latest Entry Price: $0.10 with a 1:4 LMGO
Today’s Price Change: $0.057 -5.00%
Company: Askari Metals Ltd (ASX:AS2)
Sector: Mining
Deal Type: IPO
Raise Amount: $5.7M
Latest Entry Price: $0.35 with a 1:3 AS2O
Today’s Price Change: $0.44 +11.39%
Company: Tymlez Ltd (ASX:TYM)
Sector: Blockchain
Deal Type: IPO/On-market purchase
Raise Amount: $13.3M
Latest Entry Price: $0.01
Today’s Price Change: $0.012 -7.69%
Company: iCandy (ASX:ICI)
Sector: Gaming & Digital Advertising
Deal Type: Placement
Raise Amount: $1.25M
Latest Entry Price: $0.02 with a 1:1 ICIOB
Today’s Price Change: $0.045 Unchanged
Sector: Fintech
Deal Type: Placement
Raise Amount: $1.5M
Latest Entry Price: $0.015 with a 1:2 FFGOA
Today’s Price Change: $0.016 +14.29%
Company: Lobe Sciences (CSE:LOBE)
Sector: Medtech
Deal Type: Pre-IPO
Raise Amount: $1.5M
Latest Entry Price: $0.05 with a 1:1 Warrants
Today’s Price Change: $0.04 Unchanged
Company: Paradigm Biopharma (ASX:PAR)
Sector: Biopharma
Deal Type: IPO Cornerstone
Raise Amount: $1M+
Latest Entry Price: $0.35
Today’s Price Change: $1.36 +0.37%
Company: ReNu Energy Limited (ASX:RNE)
Sector: Energy
Deal Type: Placement
Raise Amount: $1.46M
Latest Entry Price: $0.06 with a 1:1 RNEO
Today’s Price Change: $0.05 -1.96%
Company: Cipherpoint Limited (ASX:CPT)
Sector: Cybersecurity
Deal Type: Placement
Raise Amount: $2.9M
Latest Entry Price: $0.005 with a 1:1 Listed Option
Today’s Price Change: $0.006 Unchanged
Company: Metals Australia Limited (ASX:MLS)
Sector: Lithium/Graphite
Deal Type: Placement
Raise Amount: $7.8M
Latest Entry Price: $0.078 with 1:1 MLSOD
Today’s Price Change: $0.038 +8.57%
Company: BBX Minerals Ltd (ASX:BBX)
Sector: Mining
Deal Type: Placement
Raise Amount: $2.1M
Latest Entry Price: $0.082 with a 1:1 BBXOA
Today’s Price Change: $0.105 Unchanged
Sector: CBD
Raise Amount: $5M
Latest Entry Price: $0.022 with a 1:2 AVEO
Today’s Price Change: $0.007 -22.22%
Sector: Medicinal Cannabis
Deal Type: Placement
Raise Amount: $6.6M
Latest Entry Price: $0.033 with 1:2 ECSO
Today’s Price Change: $0.02 Unchanged
If you would like more information on future Peak deals, please don’t hesitate to get in touch.
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