Lithium Americas is a Canadian based company that has made an offer to acquire outstanding shares in the millennium lithium mine which are valued at nearly $400 million. The unconditional offer that up and entitlement of $3.79 for each year which is held including all lithium Americas common shares. Shareholders would be able to hold a 9.9% interest in the Canadian mining for and with lithium set to take off with the latest in battery electronic technology, this is a fairly sound investment for the future.
The superior proposal compared to the CATL online is made to improve on similar offers and ensure that the company can go without paying a termination fee to millennials. These latest offers on the project represent substantial growth for millennial’s 100% owned project of lithium brine in Pastos Grandes. In the landmark deal in mining, it also represents the future of lithium mining throughout the United States and North America. Under current projects there have been a series of lithium shortages with battery technology and new environmental pushing towards electric equipment. The takeover of a local lithium factory could represent growth in the electronics industry as well as many new jobs in the mining industry throughout the USA. The latest strategy offers expansion planning and a complementary resource that could benefit many companies in the USA. The current takeover bid at the highest bidder was from a Chinese lithium metals producer offering a price of $2.9 per share. The terminated arrangement of this offer bodes well for the Canadian company and for a future North American ownership of this lithium resource. The nonbinding proposal took place in September and it’s estimated that the deal should be carried out soon.
This post was written by Justin Tidd, Director at Becker Mining Communications! For over 15 years, Becker Communications has been the industry’s leader in increasingly more sophisticated electrical mining communication systems. As they expanded into surface mining, railroads, and tunneling they added wireless communication systems, handheld radios, tagging and tracking systems, as well as gas monitoring. Click here to learn more!