Galaxy Resources has completed the $30m capital raising needed to support its acquisition of Lithium One, as reported to IM on 30 March.
With this consolidation, the company stands to be the largest pure play lithium company in the world, Galaxy said.
The consolidation of the two players marks a new dawn for lithium producers, analysts argued, as juniors are now actively seeking partners to go into business with.
“Previous to the proposed lithium one takeover, it was suggested that the high net present value placed on brine projects in particular - because of the favourable economics - meant it was unlikely that any junior company with a brine asset would have the financial resources to buy-out any other,” Robert Baylis, general manager...