Advantage shareholders back Orocobre play
PERTH (miningweekly.com) – The shareholders of Canadian takeover target Advantage Lithium have overwhelmingly voted in favour of a takeover from dual-listed lithium miner Orocobre.
Orocobre in February inked a definitive agreement to acquire Advantage, offering that company’s shareholders 0.142 Orocobre shares for every one Advantage share held, valuing the takeover target’s shares at 42c each, based on Orocobre’s last closing price of A$3.29 a share.
Orocobre will issue some 15.1-million shares under the transaction, which will increase its total issued shares by 5.8%, with the miner saying it would issue the shares under its existing placement capacity, which would not require shareholder approval.
Prior to the takeover offer, Orocobre held a 34.7% interest in Advantage.
Orocobre said on Wednesday that the arrangement remained subject to the approval of the Supreme Court of British Columbia, which is scheduled to hear an application to approve the transaction on April 16.
With the acquisition of Advantage, Orocobre will gain exposure to 4.8-million tonnes of measured and indicated resources, and 1.5-million tonnes of inferred resources at Advantage’s Cauchari development, in Argentina, where Orocobre currently holds a 25% interest with Advantage holding the balance.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation