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Amid the current lithium boom, Argentina's mining exports are set to reach around $4.5 billion in 2023, with analysts projecting that production in Argentina could more than triple by 2030. Lithium Americas Corp. (NYSE:LAAC) (TSX:LAAC) is among the top companies making strides in Argentina's lithium landscape, with developments at its flagship Hombre Muerto North Lithium (HMN Li) project in Salta Province, including a 175% increase in lithium resource.
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-2.14%
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Alpha Lithium Corporation (NEO: ALLI) (OTC: APHLF) announced the approval of privatization through the amalgamation of Alpha and 1446978 B.C. Ltd. The offer price of C$1.48 in cash per Alpha Share was approved by 99.19% of the votes cast by Alpha Shareholders. Upon the completion of the Amalgamation, each Alpha Shareholder will receive one redeemable preferred share of Amalco in exchange for each Alpha Share, to be automatically redeemed for consideration of C$1.48 in cash. The completion of the Amalgamation is expected to occur on December 19, 2023, and the Alpha Shares will be delisted from the NEO Exchange on December 20, 2023.
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0.91%
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Alpha Lithium Corporation (NEO: ALLI) (OTC: APHLF) reports the filing of interim consolidated financial statements and management’s discussion and analysis for the three and nine months ended September 30, 2023. The company also announces management transition following Tecpetrol Investments S.L.'s board-recommended offer to acquire all common shares of Alpha for $1.48 in cash per share, with Brad Nichol resigning as President and CEO, and Jorge Dimópulos and Juan José Mata assuming the roles of Interim CEO and Interim CFO, respectively.
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Alpha Lithium Corporation announces that TechEnergy Lithium Canada has acquired 54% of Alpha shares. Alpha has completed drilling two wells in Hombre Muerto.
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Alpha Lithium Corporation reminds shareholders to tender their shares before the Revised Tecpetrol Offer deadline of October 20, 2023.
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2.93%
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Rhea-AI Summary
Alpha Lithium Corporation recommends accepting the revised take-over bid from TechEnergy Lithium Canada Inc. at a price of $1.48 per Common Share, representing a 19% increase from the previous offer. PI Financial Corp. has opined that the consideration is fair to shareholders. At least 2.4% of the Common Shares are expected to be tendered to the Increased Offer. No directors or officers of Alpha have indicated an intention to tender their Common Shares. The Increased Offer remains highly conditional, and there is no assurance that the Statutory Minimum Tender Condition will be satisfied. The Offeror may explore alternative transactions if it is unable to complete a Subsequent Acquisition Transaction. Credit Suisse Securities (USA) LLC is the financial advisor to the Company.
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4.86%
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Caravel Capital urges Alpha Lithium shareholders to accept Tecpetrol's revised offer of C$1.48 per share in cash, stating it fairly values the company and removes future financing risks. They believe shareholders will incur substantial losses if the offer expires unsuccessfully. Caravel Capital intends to support Tecpetrol's offer and urges the board of directors to do the same.
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3.03%
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Alpha Lithium Corporation files Preliminary Economic Assessment (PEA #2) for Tolillar lithium brine project, revealing a US$1.7 billion after-tax NPV with an 8% discount rate and IRR of 25.6%. Average Li2CO3 price of $23,146 per tonne over 35 years of production. Ongoing strategic review process with active discussions. Tecpetrol's hostile bid of $1.24 per share recommended to be rejected by Alpha's board of directors.
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9.45%
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Alpha Lithium Corporation files updated NI 43-101 mineral resource estimate, increasing 'indicated resource' by 70% to 3.6 million tonnes of LCE and 'inferred resource' by 20% to 1.4 million tonnes of LCE.
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-0.79%
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Rhea-AI Summary
Alpha Lithium Corporation (NEO: ALLI) (OTC: APHLF) reports US$1.7 billion after-tax NPV8 with an IRR of 25.6% and US$8.2 billion of cumulative free cash flow over a 35-year mine life for its Tolillar lithium brine project in Argentina.
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-1.7%
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Alpha Lithium Corporation