Lithium and gold explorer Essential Metals’ dalliance with a well-heeled suitor has bankers scrambling.
Lithium and gold explorer Essential Metals’ dalliance with a well-heeled suitor has shot it on to dealmakers’ radars, and sent bankers scrambling to try to find a suitor.
As the dust settles on the juicy affair, tongues are wagging about who lobbed the indicative bid and under what conditions they may be tempted to return. Gangfeng has a lot of experience in Australia, owns toehold stakes in $2.3 billion listed Core Lithium and the $8 billion Pilbara Minerals, as well as an offtake agreement with the latter.
The third potential suitor, Global Lithium, is the smallest of the trio. It has been consolidating lithium resources in WA, and Essential Metals could provide a third beachhead alongside its Marble Bar and Manna projects.
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