Ann: Tawana & Alliance to Merge and Capital Raising & SIA, page-165

From the Australian :

https://www.theaustralian.com.au/bu...tory/f48e9d01f0d8ee4391737cb037bc0d54?login=1

Tawana Resources’ $446 million merger of equals with its Singapore partner will make it a more attractive takeover target as corporate interest in lithium is intensifying, says Tawana managing director Mark Calderwood.

Perth-based Tawana yesterday announced a deal in which it would merge with Singapore-listed Alliance Mineral Assets, which will consolidate the ownership of their jointly owned Bald Hill lithium mine in Western Australia.

The enlarged entity will have a primary listing on the Singapore Stock Exchange, where it will be the only listed lithium miner, and a secondary listing on the ASX.

Mr Calderwood, who will lead the enlarged group, told The Australian the combination had been in the works for a long time and had come together at a time consolidation across the lithium space was likely to accelerate.

“It does make us a cleaner target, but a bigger one too,” he said.

Deal-making in lithium is increasing. Altura Mining, which is developing the Pilgangoora lithium mine in the Pilbara, yesterday announced it had appointed Citigroup as its corporate advisers following recent discussions with major shareholder Shaanxi J&R Optimum Energy Co.

Mr Calderwood said he expected corporate activity to pick up in lithium in the coming months.

“There are some pretty big hitters that don’t have access to lithium and that are keen to get into the sector. I suspect if they get frustrated they will start moving on people,” he said.

“There’s definitely a fair bit of tension, and there aren’t many chairs for when the music stops.”