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ASX LTR: Lithium deals continue heavy metal run as lithium stocks drop

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WA mining Rich Listers Chris Ellison and Gina Rinehart are jockeying for control of lithium projects clustered around the Goldfields region of Western Australia.

, as activity in the sector heats up with Gina Rinehart building a significant stake in Liontown Resources.

Mr Ellison’s Mineral Resources is the biggest shareholder in Essential via its 19.9 per cent stake and supports Develop Global’s merger proposal.Advertisement The ISS advice comes after the independent expert, BDO, said Develop Global’s all-scrip offer for Essential and its Pioneer Dome lithium project near Kalgoorlie was not fair but was reasonable.A court date to approve the scheme has been set for October 18, before the shareholder meeting to vote on the proposal.

Despite the price volatility, Mrs Rinehart revealed her appetite for the commodity as her company Hancock Prospecting hoovered up shares in lithium hopeful Liontown, culminating in a 14.67 per cent stake on Tuesday.

 

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