Allkem (ASX:AKE) secures project financing facility from IFC

2 min read | October 08, 2022 06:00 AM AEDT | By Ritwika

Google News:

Allkem (ASX:AKE) secures project financing facility from IFC — Image source: © Flynt | Megapixl.com

Recent News

What Keeps Santos (ASX:STO) in the Gas Market Debate?

Why Is Lovisa (ASX:LOV) Testing ASX 200 Retail Confidence?

Why Is AUB Group (ASX:AUB) Back in the Quality Lens?

Why Is Rio Tinto (ASX:RIO) Central to the Mining Reset?

Make Kalkine Media
My Trusted Source

Highlights:

Allkem has signed a non-binding term sheet with International Finance Corporation (IFC) for its Sal de Vida project.

Sal de Vida is Allkem’s wholly owned project in Argentina.

IFC has proposed a project financing of US$200 million.

Lithium explorer Allkem Limited (ASX:AKE) announced that it has signed a non-binding term sheet with the International Finance Corporation (IFC) for a project financing facility for the company’s wholly-owned Sal de Vida Project in Catamarca Province, Argentina.

Followed by the release of this update, Allkem shares were spotted trading 2.029% higher on ASX at AU$14.580 per share at 1:09 PM AEDT on Friday (7 October 2022).

Details of Allkem’s non-binding term sheet:

However, this finance facility is subjected to legal, due diligence, Allkem board members’ approval, IFC Management and World Bank Group board approval, followed by which the facility is expected to get executed by the end of 2022.

Things to know about International Finance Corporation (IFC)?

International Finance Corporation (IFC) is one of the members of the World Bank Group. IFC is also known as the largest global development organisation that is committed towards the development of private sector in emerging markets. IFC uses its strong capital expertise to operate in over 100 countries to create markets and opportunities.

The share price movement of Allkem:

The share price of Allkem has marked a gain of around 75% on ASX in the last 12 months, and on a Year-to-date basis, the lithium miner’s share price appreciated over 30% on ASX (at 1:32 PM AEDT on Friday).

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.