Stocks of the Hour: Liontown Resources, ABx Group, Emyria

Company News

by Abbey Phillipps

Liontown Resources (ASX:LTR) announced that it has received a revised conditional and non-binding indicative proposal from Albemarle Corporation to acquire all of the ordinary shares outstanding in Liontown for $3.00 in cash per share via scheme of arrangement. Albemarle has advised that the Revised Indicative Proposal is its best and final proposal. Shares are trading 10.31 per cent higher at $2.89.

Rare earths player, ABx Group (ASX:ABX) is in a trading halt regarding a proposed capital raising that is material to the Company. The Company anticipates that the trading halt will be lifted on or before 6 September 2023 by provision of an announcement to the ASX with respect to the capital raising. Shares last traded at 9.8 cents.

Emyria (ASX:EMD) has announced that they have secured $2M in firm bids from new and existing sophisticated investors. In conjunction with the Placement, Emyria will initiate a non-renounceable pro rata entitlement offer to raise approximately $3.1 million (before costs) at the same terms. Shares are trading 25 per cent higher at 10 cents.

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