Azure Minerals (AZS:ASX)

Last update - 27 October 2023 By James Woods

We had been hoping to recommend AZS after it signed a transaction implementation agreement with Chile’s SQM, the second-biggest lithium mining company in the world.

With the recent cautionary tale of Liontown Resources (LTR), whose deal with Albemarle (the world’s largest lithium miner) was scuppered by a late blocking stake built by Gina Rinehart, AZS has signed a simultaneous scheme implementation agreement (SIA) and takeover bid, which means that if the preferred scheme of arrangement is blocked – this would be possible with 75% of shares required to be voted to pass the deal – the takeover bid becomes live and this would have no minimum acceptance condition.

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