Goldman and RBC bullish on FLAren't Goldman the ones who are bearish on lithium?
The Globe and Mail reports in its Tuesday edition that RBC Capital Markets and Goldman Sachs Group put their muscle behind a $23-million stock sale last month for junior miner Frontier Lithium. The Globe's Andrew Willis writes that the bought deal, initially pitched as a $20-million offering then upsized because of investor demand, earned the two lead dealers and four other banks just $1.1-million. The Frontier financing highlights how the biggest banks are jockeying for position in critical minerals and the emerging supply chain for electric vehicle batteries. RBC and Goldman won lead roles last month raising money for a company that previously worked with small-cap mining specialists Canaccord Genuity and BMO Capital Markets, which co-led a $12-million Frontier stock sale last December. The paperwork behind the TSX Venture Exchange-listed company's latest deal also shows the staggering costs that come with developing a world-class lithium mine. By going down market last month to win Frontier's business, RBC and Goldman are trying to set the stage for future paydays. Frontier is developing the PAK project on what miners call Electric Avenue, a lithium-rich region 175 kilometres north of Red Lake, Ont.