• Connect with us
    • Information
      • About Us
      • Contact Us
      • Careers
      • Partnerships
      • Advertise With Us
      • Authors
      • Browse Topics
      • Events
      • Disclaimer
      • Privacy Policy
    • Australia
      North America
      World
    Login
    Investing News NetworkYour trusted source for investing success
    • North America
      Australia
      World
    • My INN
    Videos
    Companies
    Press Releases
    Private Placements
    SUBSCRIBE
    • Reports & Guides
      • Market Outlook Reports
      • Investing Guides
    • Button
    Resource
    • Precious Metals
    • Battery Metals
    • Base Metals
    • Energy
    • Critical Metals
    Tech
    Life Science
    Lithium Market
    Lithium News
    Lithium Stocks
    • Lithium Market
    • Lithium News
    • Lithium Stocks
    1. Home>
    2. ResourceBattery MetalsLithium Investing>
    Loading...
    0

    Core Lithium Makes AU$6.5 Million Offer for Charger Metals

    Gabrielle De La Cruz
    Aug. 20, 2024 09:15AM PST

    Charger Metals' board said it doesn't think the offer from Core Lithium fully reflects the company's value and prospects.

    Lithium periodic symbol.
    Just_Super / Unsplash

    Charger Metals (ASX:CHR) said in a Monday (August 19) press release that Core Lithium (ASX:CXO,OTC Pink:CXOXF) has made an unsolicited, non-binding indicative offer to acquire the company.

    According to Charger, the offer from Core values the company at AU$0.084 per share, or AU$6.5 million, which equates to a 23 percent premium on Charger's closing share price last Friday (August 16).

    The company's board believes the offer doesn't "fully reflect the Company’s value and prospects," but is willing to keep engaging with Core with the intention of pursuing the best outcome for Charger shareholders.


    Core published a response on the same day, saying that its offer wasn't supposed to have been made public.

    "Core is disappointed Charger chose to release details of its Proposal, notwithstanding that it was clearly stated to be confidential. It was subject to several conditions, including due diligence, and is therefore incomplete," the release states.

    The company also said it hasn't received full due diligence access from Charger.

    Core's interest in Charger is driven by potential synergies between its 500 square kilometre Finniss lithium project and Charger’s Bynoe lithium project, both of which are located in Australia's Northern Territory.

    Core notes that it has resources of 48.2 million tonnes at 1.26 percent Li2O2, giving it one of Australia's top 10 lithium resources. It also has an existing mine with the infrastructure needed to restart production. Core believes that combining its holdings with the exploration potential at Bynoe will benefit shareholders of both companies.

    Bynoe spans 63 square kilometres within the lithium-rich Litchfield pegmatite field, and is about 35 kilometres southwest of Darwin. Charger completed three diamond drill holes and 66 reverse-circulation drill holes across seven prospective target areas at the site in 2023, with more than 20 identified lithium prospects yet to be drill tested.

    Core said it is willing to support Charger's exploration joint venture at the Lake Johnston lithium project, also in Western Australia. Charger is working to advance the asset with major miner Rio Tinto (ASX:RIO,LSE:RIO,NYSE:RIO).

    Like Charger, Core remains interested in continuing talks, but urged Charger's board to "engage constructively."

    Don’t forget to follow us @INN_Australia for real-time news updates!

    Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.

    From Your Site Articles
    • Top 5 Canadian Lithium Stocks of 2024 ›
    • Top 6 Lithium Stocks of 2024 ›
    • Top 3 ASX Lithium Stocks of 2024 ›
    • ASX Lithium Stocks: 5 Biggest Companies in 2024 ›
    • 7 Biggest Lithium-mining Companies in 2024 ›
    ASX:CHR
    https://x.com/biewritesnews
    https://www.linkedin.com/in/gabrielle-de-la-cruz-8582ba1bb/
    gdelacruz@investingnews.com
    The Conversation (0)

    Go Deeper

    AI Powered
    Lithium periodic symbol and electric vehicle.

    7 Biggest Lithium-mining Companies in 2025

    Lithium periodic symbol and Canadian flag.

    Top 5 Canadian Lithium Stocks of 2025

    Gabrielle De La Cruz

    Gabrielle De La Cruz

    Writer

    Gabbie graduated with a journalism degree from Colegio de San Juan de Letran - Manila and has produced articles on a variety of topics, such as infrastructure, business and technology. Her creative portfolio includes written work on architecture, art and design. Gabbie covers the Australian market for the Investing News Network, focusing on the mining sector.

    When not in front of her desk, she is out scanning through vinyl records, exploring the international coffee culture and fighting for queer rights.

    Latest News

    SAGA Metals Releases Corporate Video Produced by Pinnacle Digest and Provides a Comprehensive Summary of the Radar Ti-V-Fe Project in Labrador, Canada

    Seymour Concentrate Produces Battery Grade Lithium Hydroxide

    Lammerlaw NZ Maiden Drilling Intersects Gold Mineralisation

    SAGA Metals Confirms a 3 km Continuous Magnetic Anomaly in the Trapper Zone at the 100% Owned Radar Titanium Property in Labrador, Canada & Provides Corporate Update

    Final At-The-Market Raise for 2025

    More News

    Outlook Reports

    Resource
    • Precious Metals
      • Gold
      • Silver
    • Battery Metals
      • Lithium
      • Cobalt
      • Graphite
    • Energy
      • Uranium
      • Oil and Gas
    • Base Metals
      • Copper
      • Nickel
      • Zinc
    • Critical Metals
      • Rare Earths
    • Industrial Metals
    • Agriculture
    Tech
      • Artificial Intelligence
      • Cybersecurity
      • Gaming
      • Cleantech
      • Emerging Tech
    Life Science
      • Biotech
      • Cannabis
      • Psychedelics
      • Pharmaceuticals

    Featured Lithium Investing Stocks

    International Lithium Corp.

    ILC:CA

    Metals Australia

    MLS:AU

    Lithium Africa

    Atlantic Lithium

    A11:AU

    Galan Lithium

    GLN:AU

    Jindalee Lithium

    JLL:AU
    More featured stocks

    Browse Companies

    Resource
    • Precious Metals
    • Battery Metals
    • Energy
    • Base Metals
    • Critical Metals
    Tech
    Life Science
    MARKETS
    COMMODITIES
    CURRENCIES
    ×
    Gabrielle De La Cruz
    Gabrielle De La Cruz

    Writer

    Gabbie graduated with a journalism degree from Colegio de San Juan de Letran - Manila and has produced articles on a variety of topics, such as infrastructure, business and technology. Her creative portfolio includes written work on architecture, art and design. Gabbie covers the Australian market for the Investing News Network, focusing on the mining sector.

    When not in front of her desk, she is out scanning through vinyl records, exploring the international coffee culture and fighting for queer rights.

    Full Bio

    Follow

    Learn about our editorial policies.