Alita slated for lending default

ALITA Resources’ lender have served the lithium miner a notice of default alleging multiple breaches of the terms of a secured A$40 million loan facility, and the company is scrambling to address the issues to avoid becoming the first casualty of the lithium bust.

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Bald Hill is under a cloud.

The lending consortium, led by Tribeca Investment Partners, is concerned by the deterioration of the lithium spot price, which has halved over the past year, and weakened market demand for spodumene