Spodumene concentrate price is just bounced from the bottom of the cycle. It's good to make acquisitions while the spodumene price is low.
GLN is only playing $0.48m by issuing 1.22m GLN shares to increase Greenbushes projects covering area from 43km2 to 396 km2. Minimum dilution for a good upside.
IGO is playing $1.9B for 24.99% of Greenbushes project and Kwinana plant. The Greenbushes mine is valued at around $6B.
The acquired Greenbushes South Project is located 3 kms south of the world-class Greenbushes Lithium Mine.
Although this project might not turn up anything significant but It's a good acquisition at a low price.
The HMW project alone should give GLN a multiple upside, imo.
Ann: GLN Acquires 80% Share in Greenbushes South Lithium Project, page-75
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