More M&A activity in the lithium sector, this time Sigma which has a 75Mt hard rock resource recently entering production. I thought the MC was higher than reported below.
https://www.mining.com/web/sigma-lithium-surges-after-attracting-strategic-proposals/?utm_source=Daily_Digest&utm_medium=email&utm_campaign=MNG-DIGESTS&utm_content=sigma-lithium-surges-after-attracting-strategic-proposals
“Sigma Lithium Corp. surged 15% after saying it’s reviewing a number of strategic approaches in the latest sign of rampant dealmaking in the sector.
The nascent industry has been consolidating this year, while some of the world’s biggest carmakers look to secure future supplies of the key battery ingredient. Sigma said it has received multiple strategic proposals for its main Canadian company, its Brazilian subsidiary and the mine it’s developing. The Toronto-listed miner is valued at C$4.77 billion ($3.5 billion)
The companies and the project have attracted interest from potential strategic partners, including global industry leaders in the energy, auto, batteries and lithium refining industries,” Sigma said in a statement Wednesday.
Sigma’s Canadian shares were almost 15% higher at C$49.90 as of 9:44 a.m. in Toronto, the highest intraday increase since February.
The company is developing one of the world’s biggest lithium projects, a large rock deposit in Brazil known as Grota do Cirilo. Bloomberg reported earlier this year that Sigma had been exploring a potential sale of the company and gauging interest from miners and carmakers.”
