Fintech PR
Latest Lithium Takeover Bid Sparks Speculation on More M&A Activity to Come
FN Media Group Presents USA News Group News Commentary
VANCOUVER, B.C., Jan. 12, 2024 /PRNewswire/ — USA News Group – A new wave of mergers and acquisitions is on the rise in the lithium sector, in the wake of the latest successful takeover bid of Alpha Lithium Corporation by a leading Latin American energy company, Tecpetrol. After already announcing the acquisition of 102,692,615 common shares (54% equity) at a per-share bid price of C$1.48, Tecpetrol has officially now spent over C$150M on the Alpha transaction. That number could still climb, as the remaining ALLI shareholders have until Oct 31 to accept the offer for themselves, meaning even more lithium shareholders could be flooding the market with new cash to spend on other lithium plays with upside. This latest deal comes in the wake of the mega-merger between Allkem Limited (TSX:AKE) (OTCPK:OROCF) and Livent Corporation (NYSE:LTHM), analysts are turning their eyes toward more M&A activity in the space and other potential near-term takeout targets, such as Lithium South Development Corporation (TSXV:LIS) (OTCQB:LISMF), and Argentina Lithium & Energy Corp. (TSXV:LIT) (OTCQX:LILIF).
In the case of Lithium South Development Corporation (TSXV:LIS) (OTCQB:LISMF), the lithium developer recently announced that it had expanded it’s HMN Li Project resource by 175%. This material change in their flagship asset HMN Li’s resource estimate almost immediately gave Lithium South license to commission an updated Preliminary Economic Assessment (PEA) and expand upon its production goals.
“We are very pleased with our new updated lithium resource at the HMN Li Project,” said Fernando Villarroel, Company C.O.O. and Project Manager of Lithium South when the company announced the resource expansion. “The quality of the brine has exceeded our expectations.”
The company has already begun a pumping well/production well installation program for three of the five claims that make up the HMN Li Project. The first well has been completed at the Natalia Maria claim block to a depth of 60 meters to take advantage of the observed geology. At this location, a core well returned an impressive 1176 mg/l Li back in April 2023.
Lithium South originally published an NI 43-101 PEA for the project back in 2019, when it only had a defined resource of 0.57 Mt Lithium Carbonate Equivalent (LCE) and the market price for lithium was assumed to be US$12,420 per tonne over the duration of the project. Today in 2023, the HMN Li has a newly calculated resource of 1.583Mt of LCE (with 90% attributed to the top ‘Measured’ category), and the lithium market price has stabilized at around $ 22,000 per tonne.
As well, the salt flat called Salar de Hombre Muerto, where HMN Li is located, has attracted billions of dollars in investment—most notably from Korean giant POSCO. Back in 2022, POSCO committed to investing US$4 billion on its Sal de Oro Lithium project, which is located immediately adjacent to the edge of the HMN Li project’s border. Now in 2023, POSCO has announced a US$800M investment then another US$1.7B investment into Argentina to support the project. Most recently, POSCO also announced a potential investment in a direct lithium extraction technology ( DLE ) )being developed by EnergyX . While not a yet commercially applied technology, DLE is gaining market interest as it can boast high recovery rates.
All of this nearby activity is reflecting upon projects like Lithium South’s, as well as for peers such as Argentina Lithium & Energy Corp. (TSXV:LIT) (OTCQX:LILIF) which recently commenced drilling on at Rincon West project in a campaign designed to explore the contiguous Rinconcita II concession and provide an eastward extension of their flagship project. So far the project has already captured the attention of Stellantis, to the tune of a US$90M equivalent investment from the auto giant.
“The USD 90MM equivalent investment in our company by automotive giant Stellantis comes with the mandate to accelerate exploration at our core projects, with the aim of advancing to the assessment of development potential as quickly as possible,” said Nikolaos Cacos, CEO of Argentina Lithium. “We anticipate increasing the scale and number of our exploration programs as permits are received for our projects. This is a big undertaking, and we are now well financed to aggressively move forward with this work.”
According to the company, the Rinconcita II property extends Argentina Lithium’s holdings eastwards over the salt flat that has not previously been explored. The current drill program is intended to verify the presence and lithium grades of these brines, in order to incorporate them into the resource model they’re building for Rincon West.
Within the Argentina portion of the prolific Lithium Triangle, the mega-merger between Allkem Limited (TSX:AKE) (OTC:OROCF) and Livent Corporation (NYSE:LTHM) is set to reshape the lithium landscape to create the world’s third largest lithium miner by production capacity. Now that all competition and foreign approvals have been acquired, there is a lot of momentum behind the $10.6-billion merged entity.
“It really comes down to one key point which is: Our customers need us to get bigger,” said Livent CEO Paul Graves, who will lead the new entity. “They need more lithium, and developing lithium resources is not a game for small companies.”
According to Graves, combining Allkem and Livent should create a company with greater scale, a larger product range and a wider geographic footprint to meet the growth in lithium demand. This results from putting together Livent’s expertise in lithium processing, with Allkem’s large resource base and skill set in producing lithium using both brine-extraction and hard rock mining techniques.
Now with the entry of Tecpetrol into the space through the successful takeover bid of Alpha Lithium Corporation there’s another major player in the scene. In the wake of the takeover’s conclusion, Alpha announced it had completed drilling two wells on one of its existing properties in Hombre Muerto. Both wells encountered multiple brine bearing zones and, as they were both drilled as producing wellbores, are currently being flow-tested. Samples from each well were collected during initial pumping, serving as composite chemistry for the entire screened interval of the well and are more representative of the chemistry that would be expected from that well during production pumping.
Moving forward, in the near term, shareholders of ALLI have an expiry time of October 31, 2023 to tender their shares if they want to sell to Tecpetrol. As of the timing of the announcement, there are already 102,692,615 common shares bought out by the buyer, which leaves the market with a potential spot cash injection for those previous lithium stock owners to move to new projects with similar future takeout potential.
Source: https://usanewsgroup.com/2023/10/18/the-lithium-race-to-power/
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Fintech PR
Universal Consulting Opportunities (UCO) Enters European Market as Exclusive Strategic Advisor to MLS Leader in Romania
UCO Leverages Its Expertise to Further MLS Leader’s Mission to Grow the MLS Concept and Enhance the Real Estate Industry for Professionals and Consumers
ALTAMONTE SPRINGS, Fla., Oct. 4, 2024 /PRNewswire/ — UCO, a subsidiary of Stellar MLS, a leading multiple listing service (MLS) in the U.S. and the fastest-growing in the world, has announced an agreement with MLS Leader to be its exclusive MLS strategic advisor in Romania. By sharing its expertise and experience, UCO will advance MLS Leader’s vision of being the leading MLS in the Romanian real estate marketplace.
MLS Leader has worked closely with the communities of real estate brokers and agents for more than a decade, continuously taking on the role of education and regulation, to build a transparent real estate market in the interest of real estate professionals, clients, and the general public. Being the source of information about properties and real estate transactions in Romania, MLS Leader’s mission is to provide real estate professionals a way to excel in their profession and offer valuable services at every step of their activities.
Through UCO, Stellar MLS brings its strategic experience in the MLS global realm to augment MLS Leader’s operational and technological expertise and will advise MLS Leader to enhance its innovative platform and services while building its membership of professionals within the real estate community of the European Union’s sixth most populous country.
“We’re proud to collaborate with MLS Leader on this important vision to promote a more transparent and efficient real estate market in Romania and beyond,” said Merri Jo Cowen, CEO of Stellar MLS and UCO. “Our team is focused on the MLS and supporting real estate professionals in Europe and across the globe.”
“As the pioneering MLS service in Europe, founded in 2007, MLS Leader (powered by Flexmls) has built a system that empowers real estate companies to successfully implement the MLS and exclusive representation model in a market beyond North America,” said Sorin Udrea, Founder and General Manager of MLS Leader.
“We are widely regarded as the most trusted source of market data in Romania, supporting agents with essential tools like CMA, market statistics, and client portals for buyer representation. With UCO as our strategic advisor, we are excited to accelerate our efforts toward establishing MLS Leader as the premier marketplace for real estate professionals specializing in exclusive representation in Romania.”
Cowen emphasized the expertise and dedication of UCO’s team of globally recognized business leaders, which includes Marion Weiler, UCO Vice President of Global Markets and Stellar MLS Vice President of Marketing and Communications, and Dr. Mathew Kallumadil, UCO Vice President of Global Markets and Stellar MLS Vice President of Technology and Innovation, in reaching this important milestone.
UCO has been actively engaged in global forums in France and Germany to support a forward-thinking approach to transforming the real estate industry. In October, UCO is a title partner of the International MLS Forum in Milan, where representatives of 45+ global markets will meet to understand and develop the MLS concept to bring about trust and transparency. UCO’s presence is supported through its partnerships with CEPI, the European Association of Real Estate Professions, and FIABCI, the International Real Estate Federation.
About UCO
With a mission to support real estate professionals across the globe, UCO offers expertise including but not limited to market entry, MLS development, and cross-border transactions. This expertise stems from a management team with over 100 years of combined experience in the real estate industry, including globally recognized business leaders who have worked with world-class organizations, and international professionals with 40 years of collective global experience, many of whom are fluent in multiple languages. By collaborating with global organizations like CEPI and FIABCI, UCO delivers tailored solutions to help real estate markets thrive globally, with an emphasis on trust, transparency, innovation, and sustainable growth. Whether you are enhancing existing operations or building new ones from the ground up, UCO is committed to helping real estate markets thrive – UCO specializes in meeting clients’ unique needs, wherever they may be in their MLS journey.
About MLS Leader (Powered by Flexmls)
Founded in 2007, MLS Leader is the first genuine multiple listing service in Europe, offering real estate professionals in Romania advanced tools to enhance market transparency and efficiency. MLS Leader’s mission is to empower real estate agents and appraisers with the resources to excel in their work and provide valuable services at every stage. By promoting the exclusive representation model, MLS Leader offers a robust platform that includes tools and information needed for successful real estate agency management, along with access to reliable market data, competitive analysis (CMA), and advanced client communication systems.
UCO Media Contact: Caryn McBride
Co-Communications
[email protected]
View original content:https://www.prnewswire.co.uk/news-releases/universal-consulting-opportunities-uco-enters-european-market-as-exclusive-strategic-advisor-to-mls-leader-in-romania-302267989.html
In the presence of Mohamed bin Zayed Al Nahyan and Abdel Fattah El-Sisi
- The event marked the signing of several significant agreements aimed at driving the development of the new destination
ABU DHABI, UAE, Oct. 4, 2024 /PRNewswire/ — In the presence of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, and His Excellency Abdel Fattah El-Sisi, President of the Arab Republic of Egypt, ADQ, an Abu Dhabi-based investment and holding company, appointed Modon Holding PSC as the master developer for the Ras El Hekma megaproject.
In addition to being master developer for the entire development spanning 170 million square metres, Modon Holding will undertake the responsibility of the developer role for the first phase of the envisaged city consisting of 50 million square metres.
The remaining 120 million square metres, which are part of the master plan presented by Modon Holding, will be developed in partnership with prominent developers from Egypt, the UAE, and the international community under the oversight of the recently established ADQ subsidiary Ras El Hekma Urban Development Project Company and Modon Holding.
This iconic project represents a major milestone for Modon Holding by significantly increasing its land under development outside the UAE. Ras El Hekma is located around 350 kilometres northwest of Cairo and envisioned as a fully functional, smart, sustainable, and inclusive urban community situated against the scenic coastline.
The project is expected to become a powerful economic engine, with cumulative investments anticipated to reach US$110 billion by 2045, an annual GDP contribution of around US$25 billion, and approximately 750,000 jobs to be created, both directly and indirectly.
Upon completion, the development will be home to two million people and feature more than 40 kilometres of green spines, set to make Ras El Hekma the greenest megaproject in the region.
As a result of Ras El Hekma’s location within a four-hour flight for over 400 million outbound tourists, the establishment of tourism infrastructure will be a priority during the first phases of the development, encompassing an international airport as well as high-speed rail connectivity. The masterplan also includes residential areas, office spaces, hospitality venues, retail, leisure, and recreation facilities.
Ras El Hekma will have an international marina and a special free zone. Additionally, Modon Holding will look to develop infrastructure to support a range of high-growth industries, including business services, financial services, light manufacturing, and technology.
His Excellency Jassem Mohamed Bu Ataba Al Zaabi, Chairman of Modon Holding, said, “Ras El Hekma is destined to become a regional crown jewel in a country already famed for its rich and diverse attractions. Modon Holding is proud to bring this 170-million-square-metre visionary megaproject to life, leveraging our expertise and innovative approach. With our partners, we are poised to transform Ras El Hekma into a dynamic economic powerhouse and a global model for urban development.”
His Excellency Mohamed Hassan Alsuwaidi, Managing Director and Group Chief Executive Officer of ADQ, said, “As a project of unprecedented scale and impact, Ras El Hekma will be a catalyst for the development of Egypt’s economy by offering opportunities for businesses and stimulate tourism. Modon Holding brings a wealth of expertise in master planning and will pioneer state-of-the-art, innovative solutions, creating a destination that will deliver long-term value for Egypt and its people.”
Bill O’Regan, Group CEO of Modon Holding, said, “The Ras El Hekma destination is one of the Group’s most significant investment and development projects outside the UAE. The project provides an incredible development pipeline, and Modon Holding looks forward to delivering a destination that will be an exceptional experience for visitors and residents alike.”
During the ceremony, Modon Holding PSC engaged with the initial major partners to join in the development of the Ras El Hekma megaproject on Egypt’s stunning Mediterranean coast.
Ras El Hekma is set to become a leading urban and tourist hub, boasting a wide array of attractions and amenities. Modon Holding aims to harness its large-scale development expertise, collaborating with local, regional, and global partners to bring this visionary destination masterplan to life.
These collaborative efforts, combined with a focus on diverse entertainment, sports, cultural events, and top-tier community management, will position Ras El Hekma as a premier Mediterranean destination.
While the immediate focus is on tourism and hospitality, Modon’s long-term vision for the 170-square-metre site also includes business services, financial services, light manufacturing, and technology.
Modon Engages First Batch of Investors and Partners in Landmark Ceremony
On 4th October, in a momentous ceremony attended by President His Highness Sheikh Mohamed bin Zayed Al Nahyan and Egyptian President His Excellency Abdel Fattah El-Sisi, Modon proudly initiated the engagement of its first group of investors and partners.
The event marked the signing of several significant agreements aimed at driving the development of the new destination:
– A framework agreement with Orascom Construction, designating them as one of the primary contractors for the initial phase of the project.
– A memorandum of understanding with Elsewedy Electric to explore opportunities for supplying building materials and collaborating on industrial parks, manufacturing, operations, and maintenance.
– A memorandum of understanding with Abu Dhabi Airports to collaborate in airport strategic planning, design, development, and operational support.
– A memorandum of understanding with TAQA to explore cooperation opportunities in relation to the development, financing, and operation of greenfield utilities infrastructure projects, water desalination projects, electricity transmission and distribution projects and wastewater projects.
– A memorandum of understanding with Valderrama for the development and operation of golf communities.
– A memorandum of understanding with e& Egypt to facilitate the design and implementation of smart city infrastructure, including digital connectivity, fiber networks, and 5G; smart building technologies and IoT-enabled solutions for residential and commercial properties; city-wide data collection, monitoring, and analytics systems; smart utilities, encompassing automated energy management, water, and waste systems; smart transportation systems; and any other mutually agreed smart city services.
– A memorandum of understanding with Candy International aims to explore luxury real estate development opportunities, leveraging Candy’s extensive international reach.
– A memorandum of understanding with Montage International for the development and management of luxury hotels in Ras El Hekma.
– A memorandum of understanding with Accor and Ennismore to operate hotels and resorts in Ras El Hekma.
– Finally, a memorandum of understanding with Burjeel Holding to develop multi-specialty healthcare facilities, implement innovative healthcare solutions, provide medical training programmes, and collaborate on public health initiatives and community wellness programmes.
These strategic partnerships underscore Modon’s commitment to creating a world-class destination, fostering innovation, and enhancing the quality of life for Ras El Hekma’s future residents.
His Excellency Jassem Mohamed Bu Ataba Al Zaabi, said, “Ras El Hekma represents a visionary and multifaceted endeavour that promises to make a substantial contribution to the Egyptian economy. Crafting a masterplan of such scale demands specialised expertise and capabilities across diverse industries, which can only be realised through robust strategic partnerships. We look forward to working with our partners present and future in harnessing the full potential of this extraordinary location.”
Bill O’Regan, said, “Ras El Hekma is an extraordinarily ambitious and complex project that will significantly contribute to the Egyptian economy through various stages of planning, design, and construction, ultimately bringing this new destination to life. Developing and delivering a masterplan of this magnitude requires sector-specific expertise and capabilities across a wide range of industries and is achievable only through strong strategic partnerships.”
About ADQ
Established in 2018, ADQ is an Abu Dhabi-based investment and holding company with a broad portfolio of major enterprises. Its investments span key sectors of the UAE’s diversified economy including energy and utilities, food and agriculture, healthcare and life sciences, and transport and logistics, amongst others. As a strategic partner to the Government of Abu Dhabi, ADQ is committed to accelerating the transformation of the Emirate into a globally competitive and knowledge-based economy.
For more information, visit adq.ae or write to [email protected]. You can also follow ADQ on Instagram, LinkedIn and X.
About Modon Holding
Modon develops vibrant communities, unique hospitality and lifestyle experiences, and world-class sports facilities. Based in Abu Dhabi, Modon Holding is a Private Joint Stock company listed on the ADX Growth Market with the shareholding of ADQ and the IHC Group being our majority shareholders. Through a diversified business portfolio in the UAE, we are engaged in strategic investment and innovation on an unrivalled scale, shaping future smart living. Our goal is to deliver long-term, sustainable value, laying the foundations for intelligent, connected living.
Ras El-Hekma Urban Development Project Company
A wholly owned subsidiary of ADQ, an Abu Dhabi-based investment and holding company, Ras El Hikma Urban Development Project Company S.A.E. (RED) is mandated to oversee the execution of the Ras El Hekma project, a 170 million square meter visionary megacity located on Egypt’s north coast. Established in March 2024 and based in Egypt, RED holds the ownership rights of the Ras El-Hekma as well as responsibility for the implementation of the multi-phase project together with its partners, which include Modon Holding as the master developer.
Photo – https://mma.prnewswire.com/media/2523688/Modon_ADQ.jpg
View original content:https://www.prnewswire.co.uk/news-releases/adq-appoints-modon-as-master-developer-for-ras-el-hekma-megaproject-in-egypt-302267927.html
BEIJING, Oct. 4, 2024 /PRNewswire/ — October 1, 2024, marked the 75th anniversary of the founding of the People’s Republic of China (PRC). The People’s Daily released a documentary that tells how, over the past 75 years, the country has embarked on an arduous journey of national development and modernization, transforming itself from a struggling agrarian nation into the world’s second-largest economy. China has made strides in not only enhancing the well-being of its people but also delivering benefits to the rest of the world through its own development. This video demonstrates how China’s development promotes the cause of human peace and development, and how it contributes to the building of a community with a shared future for mankind.
Video – https://mma.prnewswire.com/media/2523470/Peoples_Daily.mp4
View original content:https://www.prnewswire.co.uk/news-releases/prc-at-75–peoples-daily-releases-a-documentary-the-train-to-the-future-302267752.html
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