ENERGY MINERALS

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.

 Inventory build unhelpful for Alita at Bald Hill, WA

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. The working...

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