The enlarged Allkem-Livent will get aggressive acquiring lithium assets in Australia once it has a better idea of the landscape, but current valuations are far too high.
The chief executive-in-waiting of one the world’s biggest lithium players says the valuations awarded to early-stage projects in Western Australia are far too high.
“There’s a massive disconnect today – massive – between the value someone’s ascribing to a very, very, very early stage, or technically challenging, projects in Australia with only a maiden resource without full ownership,” he said. MinRes disclosed on Friday that it had built a 12.3 per cent stake after buying shares above the agreed SQM offer price of $3.52 a share, which valued Azure at $1.6 billion.
Azure owns 60 per cent of the Andover lithium project in WA’s Pilbara, with the other 40 per cent in the hands of exploration guru Mark Creasy.
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