Alita starts 'strategic review' as soft spodumene market ratchets up pressure

LITHIUM concentrate producer Alita Resources is in the midst of a tough commercial period, with a soft concentrates market chewing up working capital and putting pressure on the company given lenders require the ASX-listed miner to have a minimum cash balance of A$15 million at the start of October.

Alita starts 'strategic review' as soft spodumene market ratchets up pressure Alita starts 'strategic review' as soft spodumene market ratchets up pressure Alita starts 'strategic review' as soft spodumene market ratchets up pressure Alita starts 'strategic review' as soft spodumene market ratchets up pressure Alita starts 'strategic review' as soft spodumene market ratchets up pressure

Inventory build unhelpful for Alita at Bald Hill, WA

While Alita currently has $16.6 million cash - given completion today of a $10 million fundraising announced in May - it consumed working capital in June and July of nearly $11 million.

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