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Stock impact report

Pilbara Minerals to acquire Latin Resources [Yahoo! Finance]

Sigma Lithium Corporation (SGML) 
Company Research Source: Yahoo! Finance
Australia based Latin Resources has mining assets in its homeland and South America. Its shareholders have unanimously accepted the all share deal which valued their shares at US$0.20, a 57% premium on the 10 day volume weighted average price (VWAP). The deal came amid a prolonged slump in global lithium prices reflecting the recent sharp slowdown in global EV sales growth. Pilbara is mainly focused on acquiring Latin Resources' Salinas hard rock lithium project, the company's key asset located in Minas Gerais in Brazil's so called Lithium Valley next to Sigma Lithium's operations. The acquisition would be Pilbara's first foray into the South American mining sector and was aimed at improving the company's access to North American battery producers. The Salinas project was expected to increase Pilbara's existing lithium resources by between 20% and 30%, adding high quality low cost production assets. Pilbara said: “The Salinas Lithium Project has the potential to become a top Show less Read more
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