Generic selectors
Exact matches only
Search in title
Search in content
Search in posts
Search in pages
Filter by Categories
Asset Allocation
Data update
Development News
Equity markets
Exploration News
Features
Finance/M&A
News & Views
Sponsored
The Drill Bit
The Future
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