ASX Today, page-37083

MIN/Chris bought AZS up to $4/share, built a stake of 12.3% of AZS, last week, MIN said it will sell its AZS shares to Gina & SQM. It's obviously he was buying AZS shares for Gina, imo.

AZS only owns 60% of the Andover project, Gina and SQM acquire AZS for $1.7B, valuing the whole lithium project for $2.83B, still working towards its maiden resource.
LTR's market cap is $2.16B, sufficient cash to complete construction, (72% construction completion as at 31 December 2023), cash $515m, debt $300m. Gina paid average price of around $2.85 for 19.9% of the LTR.
She is acquiring AZS, a project is much less advanced, valued at much higher than LTR.
Currently LTR share price is sitting at 68.6% discount to her average purchase price.
MIN/Chris is Recycling cash. Will he make a move to help her again?


Gina Rinehart, SQM lock up Azure Minerals buy from Chris Ellison, Mineral Resources


Mineral Resources says it will sell its Azure Minerals shares into the $1.7bn takeover bid made by Gina Rinehart and SQM to “recycle cash”, with the company insisting its three WA lithium mines are still profitable despite the lithium price plunge.

MinRes shares surged in a lithium relief rally, as the company joined Pilbara Minerals in saying its mines were still making money despite falling prices.

Shares in the company closed up $3.92, or 7 per cent, to $59.39 on Thursday.

MinRes boss Chris Ellison told analysts on Thursday the company’s existing lithium mines — Mt Marion and Bald Hill in WA’s goldfields district and Wodgina in the Pilbara — could all make money at a price for lithium concentrate of $US600 a tonne, and the company would keep up its strategy of “land banking” by buying into junior lithium explorers.


Always DOYR. ALL IMO.