Image by gmeurope via FlickrSalares Lithium (Canadian Junior) and Talison Lithium (Australia-the largest supplier of lithium to China) also announce a CAD$40 Million Private Placement to Fund Growth
• Combination of the world’s largest, high quality, low cost lithium producer located in
Australia with a prospective, large scale brine exploration portfolio in Chile
• Unique exposure to both mineral and brine sources of lithium, with the ability to
respond to the growing demand for lithium for electric vehicle batteries
• Board and management teams with complementary skills and extensive experience
• Fully subscribed private placement of CAD$40 million to fund growth
Notes: After a halt in trading earlier today, management at both Salares Lithium and Talisan announced this merger which will pay a premium to Salares Share holders of approx 98% based on the past 20 day average stock price. This should bring Salares stock from approx .65 cents (before the halt today) to $1.25 based on the shares of Talisan.
In our last post we speculated that it was SQM of Chile that was interested in Salares properties in the Atacama desert of Chile, however, it appears Talison jumped on an opportunity to secure this large lithium prospect.
In any event, those who took our advice and bought Salares after our previous post, stand to gain approx. 98% on their investment when trading resumes......Your welcome!
Disclosure: own Salares Lithium - LIT-v