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News; $LI Why Li Auto Stock Jumped 20% Today
Shares of Chinese electric vehicle (EV) maker Li Auto (NASDAQ: LI) were at session highs, up 20%, as of 11:15 a.m. EST today. The company will report its quarterly earnings tomorrow, but recent data on Chinese EV sales has investors anticipating sharp growth. Vehicle sales in Ch...
In case you are interested LI - Why Li Auto Stock Jumped 20% Today
News; $LI Li Auto Inc. October 2020 Delivery Update
BEIJING, China, Nov. 02, 2020 (GLOBE NEWSWIRE) -- Li Auto Inc. (“Li Auto” or the “Company”) (Nasdaq: LI), an innovator in China’s new energy vehicle market, today announced that in October 2020 the Company delivered 3,692 Li ONEs, representing a steady inc...
Read the whole news LI - Li Auto Inc. October 2020 Delivery Update
News; $LI Li Auto Inc. to Report Third Quarter 2020 Financial Results on November 13, 2020
BEIJING, China, Nov. 02, 2020 (GLOBE NEWSWIRE) -- Li Auto Inc. (“Li Auto” or the “Company”) (Nasdaq: LI), an innovator in China’s new energy vehicle market, today announced that it will report its unaudited financial results for the third quarter of 2020 b...
In case you are interested LI - Li Auto Inc. to Report Third Quarter 2020 Financial Results on November 13, 2020
News; $LI Li Auto Inc. August 2020 Delivery Update
BEIJING, China, Sept. 02, 2020 (GLOBE NEWSWIRE) -- Li Auto Inc. (“Li Auto” or the “Company”) (Nasdaq: LI), an innovator in China’s new energy vehicle market, today announced that the Company delivered 2,711 Li ONEs in August 2020. As of August 31, 2020,...
Read the whole news LI - Li Auto Inc. August 2020 Delivery Update
BREAKING NEWS: $LI Why Li Auto Stock Is Surging This Week
Shares of Chinese electric-vehicle maker Li Auto (NASDAQ: LI) were up for the third consecutive session on Wednesday, after two Wall Street banks initiated coverage with bullish ratings. As of 12:15 p.m. EDT, Li's American depositary shares were up about 11.7% from Tuesday's closing...
Read the whole news LI - Why Li Auto Stock Is Surging This Week
was looking for the new Chinese EV auto IPO LI and stumbled upon this site
nice chart - nice action - this looks like its consolidating for the next leg up
good fortunes to all investors here...
Diidii how are you doing??? Havent seen you in awhile I dont have pm... Are you still in the lithium plays mm ot pan or tt??? Any info or update would be appreciated always listen to your expertise.. Hope everything well can u pm back...
Gee...I wonder what they need all that money for....?
Galaxy Resources Limited (ASX:GXY) To Merge With Canada's Lithium One (CVE:LI)
Perth, Mar 30, 2012 - (ABN Newswire) - Galaxy Resources Limited (ASX:GXY) is pleased to announce it has entered into an agreement to effect a merger of Galaxy and Canadian lithium and potash exploration and development company Lithium One Inc. (CVE:LI).
Lithium One owns the highly prospective Sal de Vida lithium and potash brine project in Argentina ("Sal de Vida"), for which a preliminary economic assessment ("PEA") completed in October 2011 estimated a net present value of US$1.07 billion (at 8% discount; see further below). Lithium One also owns the James Bay lithium pegmatite project in Quebec ("James Bay"), in which Galaxy has an existing 20% stake under a farm-in arrangement (Galaxy can earn up to 70% by completion of a Definitive Feasibility Study ("DFS")).
Galaxy Managing Director, Iggy Tan, said a merger with Lithium One represented an excellent opportunity for Galaxy to boost its global lithium resource base and become a major global lithium company.
"Galaxy has spent the last 18 months searching the world for a high quality, undeveloped lithium brine deposit and we believe Sal de Vida fits that criterion. The Sal de Vida brine chemistry is highly favourable, with high levels of lithium and potash, and low levels of magnesium and sulphate impurities. Sal de Vida is located adjacent to FMC Lithium's El Fenix lithium operation in the Salar del Hombre Muerto, which has been in operation for the last 15 years."
"Galaxy will require more lithium resources over the next few years, and Sal de Vida along with James Bay will significantly add to our existing Australian resource inventory and gives us ample resources to continue to grow the lithium business and drive the long term value of the company. The me rger is not only a good strategic fit for Galaxy, it also represents an opportunity for Lithium One shareholders to become part of a lithium producing company with hard rock and brine assets around the world."
"With Galaxy's expertise across project development and lithium mining, processing and marketing, we would be able to fast track development of Sal de Vida as we did at our Mt Cattlin lithium mine and Jiangsu lithium carbonate plant. In addition, Galaxy plans to retain Lithium One's current management team and incorporate it into Galaxy's successful business."
"The Galaxy Board of Directors unanimously support the merger and recommend that Galaxy shareholders vote in favour of it at the Annual General Meeting, which is intended to be held on 17 May 2012," Mr Tan said.
Lithium One Chairman, Martin Rowley, said this offer represented an outstanding opportunity for Lithium One shareholders to realise the value of their investment.
"The Lithium One Board and management have done an outstanding job in building a successful lithium exploration and development company within a short period of time, which is reflected in the attractive offer received from Galaxy. By combining the assets, we will be a major player in the lithium sector. We look forward to joining the Galaxy team. The merger is unanimously supported by the Lithium One Board of Directors, which recommends that Lithium One shareholders vote in favour accordingly."
Merger Metrics
Under the agreement, Galaxy will acquire 100% of the outstanding securities of Lithium One via a Plan of Arrangement whereby Lithium One shareholders will receive Galaxy shares in exchange for their Lithium One shares ("Offer").
Lithium One shareholders will receive not less than 1.8 Galaxy fully paid ordinary shares for each Lithium One common share (see note 1). This exchange ratio was set based on the 30 day volume weighted averag e price ("VWAP") of Galaxy shares up to and including 15 March 2012 (when the non-binding offer was submitted to Lithium One) of A$0.829 and a CAD:AUD exchange rate of 0.962, and values each Lithium One share at C$1.55, or C$112 million on an undiluted basis.
This represents a premium of 27% to Lithium One's 30 day VWAP of C$1.217, and a premium of 36% to its 10 day VWAP of C$1.141, up to and including 15 March 2012.
Lithium One has a current cash balance of approximately C$10 million.
Lithium One Equity Research Reports
Various research houses and brokers cover Lithium One. The following is a summary of the research reports and their
associated target price recommendations. These reports are available on Lithium One's company web site www.lithium1.com. The target price recommendation average is C$2.75 per Lithium One share.
------------------------------------------------------------
Research Company Date Comment Target Price C$
------------------------------------------------------------
Byron Capital Mar-11 Pre PEA 2.45
Clarus Securities Mar-11 Pre PEA 3.00
Cormark Securities Jun-11 Pre PEA 2.40
Clarus Securities Jun-11 Pump Tests 3.00
Mackie Research Dec-11 Initiating 2.60
Stifel Nicolaus Feb-12 PEA Completed 2.30
Byron Capital Jan-12 PEA Completed 3.25
Byron Capital Feb-12 C$9.8m Raising 3.00
------------------------------------------------------------
Average 2.75
------------------------------------------------------------
Galaxy Equity Raising
As an agreed pre-cursor to the transaction, Galaxy intends to undertake an equity raising of A$50 million (before costs) to strengthen the merged entity's ("Galaxy Mergeco") balance sheet and increase its financial flexibility to progress its development plans and pursue additional growth opportunities. Galaxy will consider oversubscriptions based on demand.
Funds raised will be used for working capital for the Mt Cattlin and Jiangsu projects, to accelerate development of Sal de Vida; debt servicing, capital raising fees and merger costs. The finalisation of the capital raising is not conditional on the merger with Lithium One proceeding. Both companies are committed to the success of the merger, however, in the event it does not complete, Galaxy will use the residual funds to pursue acquisition of other lithium related properties.
The equity raising is expected to be completed before the merger is completed, through an e quity placement and share purchase plan. Galaxy anticipates making a further announcement regarding the capital raising shortly.
To view the complete Galaxy Resources announcement including all data on the Lithium One merger, please refer to the following link:
http://media.abnnewswire.net/media/en/docs/ASX-GXY-584189.pdf
Link: http://www.abnnewswire.net/media/en/docs/ASX-GXY-584189.pdf
About: Galaxy Resources Limited
Galaxy Resources Limited (ASX:GXY) is an Australian-based integrated lithium mining, chemicals and battery company listed on the Australian Securities Exchange and is a S&P/ASX 300 Index Company. Galaxy wholly owns the Mt Cattlin project near Ravensthorpe in Western Australia where it mines lithium pegmatite ore and processes it on site to produce a spodumene concentrate and tantalum by-product. At full capacity, Galaxy will produce 137,000 tpa of spodumene concentrate and 56,000 lbs per annum of contained tantalum. The concentrated spodumene is shipped to Galaxy's wholly-owned Lithium Carbonate Plant in China's Jiangsu province. Once complete, the Jiangsu plant will produce 17,000 tpa of battery grade lithium carbonate, the largest producer in the Asia Pacific region and the fourth largest in the world.
Galaxy is also advancing plans for a lithium-ion battery plant, to produce 350,000 battery packs per annum f or the electric bike (e-bike) market. The Company also has a farm in agreement with TSX-listed Lithium One Inc to acquire up to 70% of the James Bay Lithium Pegmatite Project in Quebec, Canada.
Lithium compounds are used in the manufacture of ceramics, glass, electronics and are an essential cathode material for long life lithium-ion batteries used to power e-bikes and hybrid and electric vehicles. Galaxy is bullish about the global lithium demand outlook and is positioning itself to achieve its goal of being involved in every step of the lithium supply chain.
Contact:
Galaxy Resources Limited
T: +61-8-9215-1700
F: +61-8-9215-1799
WWW: www.galaxyresources.com.au
________________________________________
Mar 30, 2012
Source: Galaxy Resources Limited(ASX: GXY) (PNK: GALXF)
Copyright (C) 2012 ABN Newswire. A division of Asia Business News
lol !!! YES BUFFALO !! WE NEED TO HAVE THE TWO OF THEM CHAT !!!!
Dii: Can you send Mr. M over
to talk to Mr.L? We need a
takover by a company like this
that can get us over $1. LOL.
Congratulation Lithium One !!
As one would expect the return on this merger for Lit 1 investors is incredible...
Great work Mr Mateysek !!
LITHIUM MARKET LOOKING BETTER AND BETTER !!!
IS Li LOOKING TO SCOOP UP CHILEAN LAND?? POSSIBLY MMT*? !!!
goodmorning dii great find hope this propells us,,,,,,hope everything well on the homefront
NEWS OUT !!!!!! NICE WORK Lithium One!!
Lithium One Announces Successful Short Term Pumping Tests at the Sal De Vida Lithium and Potash Project, Argentina
Date : 03/01/2012 @ 10:53AM
Source : MarketWire Canada
Stock : Lithium One Inc. (LI)
Quote : 1.2 0.0 (0.00%) @ 4:30AM
Lithium One Announces Successful Short Term Pumping Tests at the Sal De Vida Lithium and Potash Project, Argentina
Print
Alert
Lithium One Inc. (the "Company") (TSX VENTURE:LI), is pleased to announce the
completion of the short-term pumping test program at the Sal de Vida
lithium-potash brine project in Argentina. The program successfully identified
multiple regions within the project area that are suitable for future high-yield
production well fields.
Lithium One CEO and Founding Director, Paul Matysek commented, "We are pleased
that this first phase of pumping tests have achieved our goal of identifying the
most prospective areas to extract the high quality Sal de Vida brine. The very
high grades of lithium and potassium in the pumped brine, and the fact that our
pumping rates were only limited by the pumps themselves, bodes well for future
production. We are moving directly into the next phase of pumping, long-term
testing, to optimize our modeling and provide the necessary data for the
definitive feasibility study."
Five of the short-term pumping test wells were pumped at a steady state of more
than 16 liters per second (L/s), while the pumping rate at well SVWW11_04 was 24
L/s. For each of these wells, the maximum pumping rate during testing was
limited by pump capacity and not by aquifer limitations. The hydrogeologists
used these tests to collect detailed hydrological data on the aquifers that will
aid in the final design of productions wells. The results obtained are
considered by the hydrogeologists to be favourable. Higher pumping rates are
anticipated for future larg diameter production wells that will be able to
accommodate larger pumps.
The pumping test wells yielded brine of consistently high concentration. The
average lithium and potassium content of the brine extracted during the pumping
tests exceeded the grade of the recently upgraded mineral resource (See original
news release dated January 25, 2012). The Company geologists collected brine
samples during each constant-rate test to confirm the wells were accessing brine
with concentrations of lithium and potassium in excess of minimum requirements.
Composite results (total of 37 samples) from the 5 wells with the highest
pumping rates indicated lithium content ranging from 702 to 859 mg/l, and
averaging 776 mg/l. Potassium content for these samples ranged from 8,318 to
10,230 mg/l, and averaged 8,871 mg/l; potassium is the key element in potash.
Based on the combination of acceptably high pumping rates, consistently high
grades of brine, and favourable aquifer parameters, three regions within the
basin have been identified as potential production well fields. Two of these
areas will be evaluated with long-term pumping tests as part of the next phase
of development. The long-term pumping tests will not only simulate production
pumping, but they will also provide several key inputs to the commercial well
field design, including: sustainable aquifer production rates, improved
confidence in computed aquifer parameters for groundwater flow modeling, and
other important inputs in determining capital and operating costs.
The Company conducted short-term pumping tests ranging from 12 to 24 hours in 6-
and 8-inch diameter wells at eleven locations. These exploratory wells were
designed to test the aquifer properties both regionally and in the various
hydrogeologic units observed in the Hombre Muerto basin. The deepest screened
intervals in pumped wells extended to approximately 160 meters below surface.
Most wells were located adjacent to previously drilled core holes, which had
been cased and were used as observation wells to obtain additional information
on the hydraulic parameters of the aquifer. The constant-rate tests were
conducted using standard hydrogeologic methods where water level drawdown and
recovery were measured in both pumping and nearby observation wells. The
calculated aquifer transmissivities for the tested wells range from
approximately 10 to 250 m2/d.
Data analysis by the Company's consulting hydrogeologists indicates that several
areas of relatively high aquifer transmissivity exist and justify construction
of pilot production wells at these locations. The most favorable well field
locations identified to date are in the southwest part of the project, near the
pilot plant, in wells SVWW11_04, SVWW11_08 and SVWW11_10 (For a map of drill
hole/well locations please refer to:
www.lithium1.com/i/maps/SV_DH_LocationMap.pdf). In these areas, pumping
tests evaluated strata of halite, travertine and reworked volcanic rocks where
some of the most favorable results for flow rates and brine quality were
achieved. Additional favorable areas occur in the vicinity of exploration wells
SVWW11_07 and SVWW11_13 along the east basin margin, and in test well SVWW11_05,
along the north margin of the north sub-basin. The Company plans to conduct at
least two long-term pumping tests in these areas.
Review by Qualified Person
The contents of this news release, analytical data, and quality control
procedures have been reviewed and approved by Mr. Michael Rosko of Montgomery &
Associates Water Resource Consultants (M&A). Mr. Rosko is a Registered Geologist
in Arizona, California, and Texas and a qualified person (QP) as defined in NI
43-101. Mr. Rosko and M&A are completely independent of Lithium One, owning no
securities of any kind in the Company.
About Lithium One:
Lithium One Inc. is well positioned to be a next-generation low cost producer of
lithium and potash. The Company has two major projects advancing to feasibility
in 2012: the Sal de Vida lithium and potash brine project in Argentina and the
James Bay bulk tonnage spodumene project in Quebec. The October 2011 preliminary
economic assessment by ARA Worley Parsons for the Sal de Vida project outlined
an operation producing 25,000 tonnes pa lithium carbonate and 107,000 tonnes pa
potash, with a 28% internal rate of return ("IRR") and a US$1.066 billion net
present value ("NPV") at an 8% discount rate. End-user partners are earning a
maximum 30% project equity in Sal de Vida by funding $15M towards feasibility,
providing an off-take agreement for up to 50% of the lithium production, and
providing a completion guarantee for the debt component of the capital
development costs. Galaxy Resources is earning a maximum 70% project equity in
the James Bay Project through an earn-in agreement that includes delivery of a
feasibility study by early 2013. The Company's strategy is to draw upon its
quality team and employ best practice to develop its projects into leading
suppliers of low-cost, high quality lithium products to the global market.
ON BEHALF OF THE BOARD OF DIRECTORS,
Paul Matysek, Chief Executive Officer
Forward-Looking Statements
This document may contain "forward-looking information" within the meaning of
Canadian securities legislation (hereinafter referred to as "forward-looking
statements"). All statements, other than statements of historical fact, included
herein including, without limitation statements relating to the Preliminary
Economic Assessment, estimated capital and operating costs, productions rates,
cash flows, rates of return, mine life or mineral resources, securing of debt
for future project construction, purchase of future mine production, the timing
for completion of an NI 43-101 resource and other matters related to the
exploration and development of the Project, are forward-looking statements.
These forward-looking statements are made as of the date of this document and
the Company does not intend, and does not assume any obligation, to update these
forward-looking statements. Forward-looking statements relate to future events
or future performance and reflect management's expectations or beliefs regarding
future events. By their very nature forward-looking statements involve known and
unknown risks, uncertainties and other factors which may cause the actual
results, performance or achievements of the Company to be materially different
from any future results, performance or achievements expressed or implied by the
forward-looking statements. Factors that could cause actual results to differ
materially from those in forward-looking statements include unsuccessful
exploration results, changes in metals prices, changes in the availability of
funding for mineral exploration, unanticipated changes in key management
personnel and general economic conditions, title disputes as well as those
factors detailed from time to time in the Company's interim and annual financial
statements and management's discussion and analysis of those statements, all of
which are filed and available for review on SEDAR at www.sedar.com.
In certain cases, forward-looking statements can be identified by the use of
words such as "plans", "expects" or "does not expect", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not
anticipate", or "believes", or variations of such words and phrases or
statements that certain actions, events or results "may", "could", "would",
"might" or "will be taken", "occur" or "be achieved" or the negative of these
terms or comparable terminology. Although the Company has attempted to identify
important factors that could cause actual actions, events or results to differ
materially from those described in forward-looking statements, there may be
other factors that cause actions, events or results not to be as anticipated,
estimated or intended. There can be no assurance that forward-looking statements
will prove to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly, readers
should not place undue reliance on forward looking statements.
Expecting to see some action here in the very near future. Believe this is the one but guess we'll have to wait just a little longer before we can peek under the curtain. Go LI! Go MMT$!
Really like to hear from Li, they seem to be a little looser with their replys and verbage than WL...LOL But I will keep and eye out for returns Monday midmorning.
True that. Hopefully this week!!
This is funny getting mixed up between Li one and MMt- boards..LOL
Must be a sign...LOL
Of course, were so close we may hear from WL himself...
Let us know what you hear, if
you don't mind. Thanks.
IF they merge or JV, and li is at 1.25 how can the PPs come in at what your saying. Would you think at least a quater of what Li's at currently??? Dont know much about how the true number would come about...???
Yes getting in at
.000 levels and going multi penny = big $$$$$
I use to think only 0.01 penny. Well now I can see it going to 0.05...
My opinion also... LOL
These two come together it will go far beyond the moon, more like pluto.......GO LIMMTE
Li One+ MMT* imo
i concur DiiDii.. it looks promising imo
Go check out GDS* A good example
of what a pinky can do even with
no revenue. Only plans for the
future shot this one from .0004
up to .02 in the past few months.
Could happen when this one merges
with MMT*.
Definitely getting interesting
here. With our advisory board
contact from here, could be the
move we are waiting on. The time
is right for this to happen!!
I believe you are right Fronk... Pauly and Mo know good rich lithium when they smell it... and MMT* got it by the thousands of acres in the Atacama... and MMT* has over 5000 investors.... no one could pass that up.....
Yea wrote William and LiOne early thismorning, still digging. Still think somethings gona click here and there. We shall see, hope were right in our past speculations.
Fronk !!! interesting happenings here !!!
I wouldnt have never doughted this possiblity. My dreams come true..We can only hope..LOL Caulson, Libs right arm IMO.
Man now I know where your all hiding. Nice climb, HUUUMMMMM It would be nice wouldnt it...LOL GLTYA here. Nice day
So here is where all the cool people hang out...
Go Lithium!!!!
Hi Buffalo ~ that would be my number one pick !!!
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