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Volkswagen pays good price for Patriot

Posted on - 15 Jan 2025

Category - Finance/M&A

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...

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Topics

Ganfeng Lithium Hard rock Lithium Patriot Battery Metals Pilbara Minerals Quebec Volkswagen