News Corp today (29/05/23) have published some news about chinese ownership of LLL. Might well see some SP movement ha ha ha ha ha
Not holding.
Have a very nice day today.
Kind regards
rcw1
China’s largest lithium producer Ganfeng will become a 9.9 per cent stakeholder in ASX-listed Leo Lithium as part of a $106.1m deal that also fast-tracks an expanded development of its Goulamina project in Mali, West Africa.
The deal includes a commitment to expand capacity at Goulamina to 1 million tonnes per annum, cooperation on a downstream conversion facility to make lithium hydroxide in Europe or other locations close to West Africa and other beneficial business opportunities. Ganfeng’s stake buy-in is linked to a placement offer at 81c per share.
The deal ensures Leo Lithium is fully-funded for its share of Goulamina Stage 1 development and operational ramp-up costs, in addition to being well-positioned to progress its various co-commitments with Ganfeng as part of the cooperation agreement. The placement is subject to regulatory approvals in China.
“This is an exciting chapter for Leo Lithium with a number of near-term deliverables also underway, including our first spodumene product in 2024 and accelerated revenue from Direct Shipped Ore with shipments planned in the fourth quarter of this year,” Leo Lithium managing director Simon Hay said.