Essential Metals In Limbo As MinRes Lurks

Apr 21, 2023

∙ Paid

On the 9th Jan, lithium player Essential Metals (ESS AU) entered into a Scheme with Tianqi Lithium JV, comprising Tianqi Lithium (9696 HK) (51%) and IGO Ltd (IGO AU) (49%).
Shortly before the 20 April Scheme Meeting, Mineral Resources (MIN AU) announced a 19.55% stake.
A Scheme failure was expected. And 68.47% voted against the transaction. The question is - now what?

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