Chinese Takeover of Giustra's LIX - Way too CheapMtnGoatMatt makes an excellent point about buy-out price.
$265 Million for LIX is awfully cheap when one considers Lithium is already in deficit position and the fundamental shift from internal combustion engine to Lithium powered new energy is only just getting off the ground and China is only just starting to get "electric" vehicle revved up.
No doubt, this deal is just the beginning as these Chinese mining groups have significant cash accounts to buy up many of the known and viable Lithium resources.
That seems to be the way things go at the very beginning of a fundamental technological revolution, some juniors get bought up very, very early by aggressive buyers and Way too cheap.
What's also very interesting about this LIX takover deal is that it gives the Chinese significant in-roads to key Lithium resources in the Nevada Clayton Lithium basin next to Albemarle where Pure Energy already has a Lithium supply agreement with Tesla. Going forward, I think this gets very interesting.