Generic selectors
Exact matches only
Search in title
Search in content
Search in posts
Search in pages
Filter by Categories
Data update
Development News
Equity markets
Exploration News
Features
Finance/M&A
Materials Round-Up
News & Views
Sponsored
The Drill Bit
Trade & Demand
Uncategorised

News

Pilbara bailed out by CATL

Posted on - 10 Oct 2019

Category - News & Views

Despite being forced into an emergency fundraising, Pilbara Minerals (ASX:PLS) CEO Ken Brinsden came out smelling of roses as he welcomed Chinese battery manufacturer CATL (SHE:300750) in as a strategic 8.5% shareholder. CATL bought its stake for A$55m (US$38m) valuing Pilbara at US$62.9/tonne of LCE, a material discount to recent transaction multiples for hard rock projects, but probably not a surprise given the distressed nature of the raising. CATL has additionally indicated a willingness to help the company out by purchasing spodumene concentrate product. Given the nature of Pilgangoora as one of the few truly world-class hard rock assets in...

Login to read full article


Topics

CATL Lithium M&A Pilbara Minerals Spodumene