Albermarle has a market capitalisation of US$25.6 billion. However, Loyal Lithium was not the only lithium share to rise.ĪSX lithium shares skyrocketed amid news Liontown Resources Ltd ( ASX: LTR) had received and rejected a takeover offer from lithium giant Albemarle Corp ( NYSE: ALB). Loyal Lithium shares shot up 52% yesterday from 21 cents to 32 cents. Under listing rule 11.1, a company must provide full details to the ASX as soon as practicable if it plans to make a “significant change”. This voluntary suspension will be in place until the Company has complied with the procedures outlined in section 2.10 of ASX Guidance Note 12 in relation to the proposed transaction. Loyal Lithium said this relates to a “proposed transaction under listing rule 11.1”. The lithium explorer requested voluntary suspension ahead of an announcement. The company is exploring lithium in the James Bay District of Quebec and Sarcobatus Flat in Nevada, USA. Loyal Lithium shares are frozen today at the company’s request. So what is going on with this ASX lithium stock? What’s happening? For perspective, the S&P/ASX 200 Index (ASX: XJO) has climbed 1.19% in a week. Loyal Lithium shares have soared 30% in the last week and were last trading at 32 cents apiece. The shares of ASX lithium stock Loyal Lithium Ltd ( ASX: LLI) are on ice today.
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