Standard Lithium jumps on $100 mln Koch direct investment

Standard Lithium

24/11/2021 14:04

** U.S.-listed shares of Standard Lithium  SLI.N  jump 10%
to $9.58 premarket after lithium extraction firm announces
direct investment by Koch Investments Group
    ** Canada-based SLI to issue ~13.5 mln shares to Koch
affiliate at $7.42/sh (CDN$9.43)  urn:newsml:reuters.com:*:nGNX7VSJ2W
    ** Co to use net proceeds to advance first commercial
project proposed for Lanxess facility, and further expand its
flagship project located in southern Arkansas, among other uses
    ** Trading in SLI shares last week were volatile amid short
seller report
    ** Stock on Fri rebounded ~16%, following 19% drop on Thurs,
after co called Blue Orca Capital's report "false and
misleading", and denied short-seller's accusations regarding
SLI's lithium recovery rates from Arkansas brines  urn:newsml:reuters.com:*:nL4N2SA39O
    ** SLI has ~147.4 mln shares outstanding, per Refinitiv data
    ** YTD, U.S.-listed shares have quadrupled through close on
Thurs

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))