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Stocks of the Hour: Liontown Resources, United Malt, Chalice Mining

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Liontown Resources (ASX:LTR) has rejected an indicative proposal from Albemarle, in which Albemarle would acquire all of the shares in Liontown at a price of $2.50 per share via a scheme of arrangement. The Liontown Board and its advisers determined that the offer substantially undervalues Liontown, and therefore is not in the best interests of shareholders. Shares are trading 47.54 per cent higher at $2.25.

United Malt (ASX:UMG) announced it has entered into a Process Deed following Indicative Proposal from Malteries Soufflet, to acquire all of the ordinary shares on issue in United Malt for $5.00 in cash per United Malt Share. Shares are trading 31.69 per cent higher at $4.53.

Chalice Mining (ASX:CHN) announced that their Gonneville Resource in WA has increased by approximately 50 per cent. Commenting on the updated Resource, Chalice Managing Director & Chief Executive Officer, Alex Dorsch, said, “Gonneville is now the 2rd largest undeveloped nickel sulphide resource in Australia.” Shares are trading 11.46 per cent higher at $7.00.
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Source: Finance News Network