Australia's Galan Lithium falls after co gets offer for its Argentine assets
06/08/2024 03:50
** Shares of Galan Lithium GLN.AX fall as much as 23.3% to
A$0.115, their biggest intraday percentage decline since May 20
** The lithium explorer says it got a $150 million proposal
for its lithium assets in Argentina from U.S.-based Energy
Exploration Technologies (EnergyX)
** Stock closed 13.8% higher on Monday after a media article
said it had received a takeover bid from EnergyX
** Galan Lithium clarifies the offer is not a takeover bid
** About 4.6 mln shares change hands, compared with the
30-day average volume of around 2.3 mln
** Stock down 82.6% YTD, including session's move
(Reporting by Aaditya Govind Rao in Bengaluru)
((Aaditya.govindrao@thomsonreuters.com;))