Canada Lithium punished over bought-deal financing
Canada Lithium Corp shares were marked down more than 8% on Tuesday on massive volumes, after announcing bought-deal financing that investors thought were selling the company cheaply.
Canada Lithium Corp shares were marked down more than 8% on Tuesday on massive volumes, after announcing bought-deal financing that investors thought were selling the company cheaply.
Mining operations continued at a reduced level and approximately 100,000 tonnes of ore remain on stockpile at the crusher.
The sleekest, most efficient electronic product is nothing without the battery that powers it. Enter lithium, the raw material battery manufacturers depend on.
Despite the opportunities in the market, the copper giant will focus on its key projects instead.
Critical Elements Corporation is developing a hard-rock lithium and tantalum mine and plant in northern Quebec.
The convertible debenture loan from Apollo Global Management will be used for working capital and general corporate purposes.
The first shipment of 99.5% battery-grade lithium to China from the company's Quebec plant should happen this week.
Battieres accounted for 27% of global lithium consumption.
There could be up to 18 million tons of lithium there, worth up to roughly $500 billion at current market prices
The U.S. currently imports more than 80% of the lithium it uses, with the silvery metal winding up in batteries from cell phones to electric cars.