Hey
Subby,
Did you see this article by Henry Sanderson?
Some paragraphs and snippets of interest.
"FMC Corp said its lithium business Livent aims to raise $100m..."
"FMC has hired Bank of America Merrill Lynch, Goldman Sachs, and Credit Suisse as bankers for the deal. The company will continue to hold 80 per cent of Livent once it is listed, shares of which will then be distributed to its shareholders. FMC will also offer a $400m revolving credit facility to the company."
"Livent is targeting production of lithium hydroxide, a form of the metal that is set to attract higher demand as carmakers shift to next-generation batteries that offer greater energy density."
"Lithium hydroxide is the form of lithium used in batteries made by Panasonic for Tesla’s vehicles..."
"The company plans to increase lithium hydroxide production from 30,000 tonnes at the end of 2019 to around 55,000 tonnes by the end of 2025.
Livent extracts lithium from the Salar del Hombre Muerto in Argentina. However, the group plans to “pursue additional sources” of lithium through further expansion in Argentina, acquisitions and the development of new resources or long-term supply agreements"
....did I read this right
@Subs?
FMC are spinning off 20% of their lithium division for US$100 million...
With an attached US$400 million revolving line of credit...
Then, any current holders in FMC will be given shares in the remaining 80% of the company...
And....
They plan to expand in Argentina....acquire... and develop new resources... Or secure long term supply agreements.
