Atlas struck a deal in December year to buy DSO lithium from Pilbara Minerals (ASXLS), starting in the June quarter this year.
The two companies have ties. The head of Pilbara Minerals, Ken Brinsden, is a former managing director of Atlas. And there are a number of other ex-Atlas execs at Pilbara Minerals.
Atlas estimates it will make a tidy net profit of between $15 million to $30 million.
Even better for Atlas — there is no capital outlay required.
“Who gets to make potentially $30 million for no capital? That’s seriously cool,” managing director Cliff Lawrenson told *.
AGO Price at posting:
2.5¢ Sentiment: Hold Disclosure: Held
LS), starting in the June quarter this year.
