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-- 82.140 Top Lithium Stocks to Watch as Takeover Fever Sparks 1,100% Stock Gains
Lithium aspirant $Liontown Resources Ltd (LTR.AU)$ signals it will accept an improved A$6.6 billion takeover bid from the world's top producer of the battery metal $Albemarle (ALB.US)$. Such a deal reflects surging demand for the metal from carmakers amid a transition away from fossil fuels.
Annother lithium explorer $Azure Minerals Ltd (AZS.AU)$ received a A$2.31-a-share takeover offer from New York-listed Chilean producer $Sociedad Quimica Y Minera De Chile (SQM.US)$ last month that valued the company at more than A$900 million.
Some Australian explorers' stock prices have soared amid takeover interest and estimates of huge lithium resources, smaller names tank on scepticism.
Investors who bought Liontown at the start of the year could have doubled their money. $Azure Minerals Ltd (AZS.AU)$ has notched surge of over 1,100%this year. $Patriot Battery Metals Inc (PMT.AU)$, which is developing a large lithium deposit in Canada, has jumped 81%. Meanwhile, peer $Lake Resources NL (LKE.AU)$ has plummeted more than 70%.
"Azure and Patriot have what looks to be high-quality resources, but those projects won't be in production until 2029, maybe later, so there's a long way to go," UBS resources analyst Lachlan Shaw said.
Analysts and fund managers expect more merger and acquisition activity as dozens of other lithium explorers target production by next year.
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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