Volkswagen pays good price for Patriot
Volkswagen secured its 9.9% stake in Patriot Battery Metals for the knockdown price of US$98/t LCE resources, a pretty good price compared to other hard rock takeout multiples over the past 12-18 months, although a substantial premium to current valuations. While Patriot is at a very early stage, it certainly looks set to be one of the, if not the, largest spodumene hard rock occurrences in the world and the price, which is a discount to what Pilbara Minerals paid for Latin Resources and to the level that Ganfeng Lithium took out the stub of Goulamina at, looks really pretty...
Topics
Ganfeng Lithium
Hard rock
Lithium
Patriot Battery Metals
Pilbara Minerals
Quebec
Volkswagen