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Alpha Lithium Corporation (APHLF) is a leading lithium exploration and development company with a focus on advancing the Tolillar project in Salta Province, Argentina. Recently, the company filed the results of a Preliminary Economic Assessment (PEA) showcasing its significant lithium resource potential. The project boasts a US$1.7 billion NPV and a cumulative cash flow of US$8.2 billion over a 35-year production life, indicating substantial long-term value. Alpha Lithium is well-positioned with its unique and attractive assets, including a 70% increase in indicated resources and a 30% increase in inferred resources at Tolillar. The company is currently undergoing a Strategic Review Process and has received a lucrative acquisition offer, solidifying its position as a key player in the rapidly growing lithium market.
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Alpha Lithium Corporation has filed the final NI 43-101 Preliminary Economic Assessment (PEA) for Tolillar, a lithium brine salar. The PEA provides an independent economic assessment of the potential value of Tolillar based on the lithium resources outlined in the September 2022 maiden resource estimate. The company expects to update the resource estimate soon. The PEA, prepared by Ausenco Chile Limitada, is conservative but allows for improvement as Tolillar is further explored and developed. Tolillar is one of the last large, independent, wholly-owned lithium brine salars globally and has the potential to become an even larger and longer-lived operation.
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Alpha Lithium Corporation comments on shareholder feedback regarding hostile offer. Board determines offer is not in the best interests of the company or its shareholders.
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Kyle Stevenson, a major shareholder of Alpha Lithium Corp., opposes Tecpetrol Investments S.L.'s bid due to inadequate valuation and predatory structure. He believes the bid undervalues Alpha's Tolillar asset and fails to deliver value to shareholders. The bid price of $1.24 represents a ~15% discount to Alpha's closing price on June 23, 2023. Tecpetrol wants to acquire all of Alpha's assets, including Hombre Muerto and over $30 million in cash, for no additional consideration. Stevenson encourages Tecpetrol to engage in a constructive manner and offer a fair price for Alpha and/or its Tolillar asset.
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Alpha Lithium Corporation recommends rejecting the hostile offer from TechEnergy Lithium Canada Inc. The offer is deemed inadequate and undervalued by the Board of Directors. The Hostile Offer price of $1.24 per Common Share is at a 13% discount to the share price. Alpha has received an inadequacy opinion from PI Financial Corp. Tecpetrol is attempting to disrupt Alpha's ongoing Strategic Review. The Hostile Offer is highly conditional, giving Tecpetrol unfair options. Alpha advises shareholders to take no action.
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Alpha Lithium Corporation announces the imminent filing of an independent technical report for its properties in the Salar del Hombre Muerto in Argentina. The report identifies conductive sedimentary and halite facies compatible with brine-saturated horizons. The company's land position is adjacent to industry leaders such as POSCO and Livent Corp. An 18-hole exploration program is recommended, with a drilling campaign expected to cost around US$11 million. The company currently has over $30 million in cash.
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Alpha Lithium Corporation has received an unsolicited takeover bid from TechEnergy Lithium Canada Inc., a subsidiary of Tecpetrol Investments. The board of directors will review the offer and make a recommendation to shareholders within 15 days. Alpha Lithium urges shareholders to take no action until the review is complete.
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Alpha Lithium responds to Tecpetrol's unsolicited takeover bid offer
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FAQ
What is the market cap of Alpha Lithium Corporation (aphlf)?
The market cap of Alpha Lithium Corporation (aphlf) is approximately 207.8M.
What project is Alpha Lithium Corporation focused on?
Alpha Lithium Corporation is primarily focused on advancing the Tolillar project in Salta Province, Argentina, to capitalize on its substantial lithium resource potential.
What was the outcome of the recent Preliminary Economic Assessment (PEA) filed by Alpha Lithium?
The PEA highlighted a US$1.7 billion NPV and a cumulative cash flow of US$8.2 billion over a 35-year production life for the Tolillar project, showcasing its significant value and long-term profitability.
Has Alpha Lithium received any acquisition offers recently?
Yes, Alpha Lithium has received a lucrative acquisition offer, underscoring the company's strong position and attractive assets in the growing lithium market.
What recent resource increases has Alpha Lithium achieved?
Alpha Lithium reported a 70% increase in indicated resources and a 30% increase in inferred resources at the Tolillar project, demonstrating the project's exceptional potential and increasing value.
Alpha Lithium Corporation