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ALITA RESOURCES RESURRECT? Post Reply Rate topic
zillion Master	05-Sep-2023 10:50        zillion About Contact  Quote this Post!
x 2   x 0  Alert Admin	ASX Min (MinRes) has a write up on this. Some investors can wait for the rise of many resources demand. Unfortunately, all resources companies are deep into debts. Through a web of holdings the ultimate big creditor is a Chinese origin company. SGX did not played its part in its due deligent for listing of mining companies here. Mining companies takes years/decades to turn around while silicon valley companies eg Grab losses year after year are being worshipped as god. Have already write off few Ks and moved on to other counters.
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stlimst Master	05-Sep-2023 10:15        stlimst About Contact  Quote this Post!
x 0   x 0  Alert Admin	Hi Joe1991, I take it that you still own shares of Alita. If you do, then yes such development will benefit shareholders. How much benefit? We won' t know until the details of proposed deal are published. The court hearing is today. Hopefully we get some more details on proposed deal(s).
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joe1991 Veteran	05-Sep-2023 09:01        joe1991 About Contact  Quote this Post!
x 0   x 0  Alert Admin	https://www.afr.com/street-talk/minres-set-to-buy-billion-dollar-wa-lithium-mine-bald-hill-20230904-p5e1t7 No idea it benefit us? stlimst      ( Date: 03-Sep-2023 21:59) Posted: Alita Resources owns one of the few lithium producing mines in Ausrtalia and given the push towards EV, the demand from Lithium will continue to go up . The rising lithium prices is really making Alita once of the prized assets to own. Right now, the Administrator of the Company is fighting with the Receiver Managers on who controls the assets and have the final say in the liquidation and disposal deal. The WA supreme court hearing is on 5 Sep and the information on proposed deals may be made public. Yes,good news indeed!!
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stlimst Master	03-Sep-2023 21:59        stlimst About Contact  Quote this Post!
x 0   x 0  Alert Admin	Alita Resources owns one of the few lithium producing mines in Ausrtalia and given the push towards EV, the demand from Lithium will continue to go up . The rising lithium prices is really making Alita once of the prized assets to own. Right now, the Administrator of the Company is fighting with the Receiver Managers on who controls the assets and have the final say in the liquidation and disposal deal. The WA supreme court hearing is on 5 Sep and the information on proposed deals may be made public. Yes,good news indeed!!
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joe1991 Veteran	02-Sep-2023 17:24        joe1991 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Wow this is really good news..hope the takeover 成 功 . Tks. stlimst      ( Date: 02-Sep-2023 16:49) Posted: This case is truly unique involving a lithium, producing company Back in 2019, Alita was placed on Voluntary Administration because of the sliding price of Lithium and some schemeing moves by unscrupulous people. Shares of the company was on the verge of being transferred to the sole creditor at zero value because the debt owed is more than the value of the company. Thankfully, the Foreign Investment Review Board (FIRB) of Australia rejected the transfer of ownership to a non-Australia company. In the meantime, we all know that lithium prices shot back up and sky rocketted in 2022/3.  With that, the value of Alita now far exceeds the debt owed and recently there was an offer that valued the company at A$1.8 billion. As announced, the deal is being worked out and the case is in court for deliberation. If indeed the sale of Alita is done at that value, then the price of the share will be about $1.  Imagine that, from zero to $1. This must truly be the most spectactular come back ever! For those who are holding the share (still in suspension), this must be one heck of a windfall.
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stlimst Master	02-Sep-2023 16:49        stlimst About Contact  Quote this Post!
x 0   x 0  Alert Admin	This case is truly unique involving a lithium, producing company Back in 2019, Alita was placed on Voluntary Administration because of the sliding price of Lithium and some schemeing moves by unscrupulous people. Shares of the company was on the verge of being transferred to the sole creditor at zero value because the debt owed is more than the value of the company. Thankfully, the Foreign Investment Review Board (FIRB) of Australia rejected the transfer of ownership to a non-Australia company. In the meantime, we all know that lithium prices shot back up and sky rocketted in 2022/3.  With that, the value of Alita now far exceeds the debt owed and recently there was an offer that valued the company at A$1.8 billion. As announced, the deal is being worked out and the case is in court for deliberation. If indeed the sale of Alita is done at that value, then the price of the share will be about $1.  Imagine that, from zero to $1. This must truly be the most spectactular come back ever! For those who are holding the share (still in suspension), this must be one heck of a windfall.
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Atom99 Master	01-Sep-2023 20:58        Atom99 About Contact  Quote this Post! Style: Fundamental   Mood: Yells: "Once you hv eliminated the impossible,whatever remains TRUTH"
x 0   x 0  Alert Admin	https://links.sgx.com/1.0.0/corporate-announcements/ZHU7HBGE55H9QYC4/03427462ddf7d5bfbe0644804041ebfac5ad8bc9bbc67c63fc7043c27fdcd8e9
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Atom99 Master	31-Aug-2023 13:07        Atom99 About Contact  Quote this Post! Style: Fundamental   Mood: Yells: "Once you hv eliminated the impossible,whatever remains TRUTH"
x 0   x 1  Alert Admin	https://links.sgx.com/1.0.0/corporate-announcements/0BU5JRBHIHTF8KRB/4daf492d4fa13ee13680faff0da5983643717494e98ecd76d8bd338d8dbfa064 Alita Resources will be liquidated. Who still holding this shares...?
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stlimst Master	29-Mar-2023 00:20        stlimst About Contact  Quote this Post!
x 0   x 0  Alert Admin	Rise of the phoenix?  thanks to the surging lithium price, existing shareholders could get their shares back,I stead of transferring at zero cost. Congrats and good luck!
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Atom99 Master	28-Mar-2023 21:52        Atom99 About Contact  Quote this Post! Style: Fundamental   Mood: Yells: "Once you hv eliminated the impossible,whatever remains TRUTH"
x 0   x 0  Alert Admin	This is the important judgement conclusion: Conclusion and orders 82                  For these reasons, Austroid' s application for summary judgment ought to be dismissed.  I will hear from the parties as to the appropriate costs orders.  My preliminary view is that the costs of the application should be costs in the cause. Full court decision report Here: https://ecourts.justice.wa.gov.au/eCourtsPortal/Decisions/DownloadDecision/a0f710b2-53f9-40ee-bb99-812d433e8bc9?unredactedVersion=False   Atom99      ( Date: 19-Feb-2023 10:36) Posted: After almost three years, Alita Resources has not been handled over to the creditors. https://links.sgx.com/FileOpen/Circular%20to%20Shareholders%20-%2016%20February%202023_.ashx?App=Announcement& FileID=746803
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Atom99 Master	19-Feb-2023 10:36        Atom99 About Contact  Quote this Post! Style: Fundamental   Mood: Yells: "Once you hv eliminated the impossible,whatever remains TRUTH"
x 0   x 0  Alert Admin	After almost three years, Alita Resources has not been handled over to the creditors. https://links.sgx.com/FileOpen/Circular%20to%20Shareholders%20-%2016%20February%202023_.ashx?App=Announcement& FileID=746803
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