Lithium Royalty Corp. ( (TSE:LIRC) ) just unveiled an announcement.
Lithium Royalty Corp. has announced a substantial issuer bid to repurchase up to C$7 million of its common shares through a modified Dutch auction, with prices ranging from C$4.50 to C$5.20 per share. This move is part of the company’s strategy to optimize its capital structure, utilizing available cash reserves bolstered by a recent partial sale of its Tres Quebradas royalty interest. The repurchase is expected to impact approximately 2.4% to 2.8% of the company’s total equity shares, potentially enhancing shareholder value and demonstrating confidence in the company’s financial health.
More about Lithium Royalty Corp.
Lithium Royalty Corp. operates in the mining and metals industry, focusing on lithium, a key component in battery technology. The company is involved in acquiring and managing royalty interests in lithium properties, positioning itself to benefit from the growing demand for lithium in electric vehicles and renewable energy storage.
YTD Price Performance: -28.69%
Average Trading Volume: 10,424
Technical Sentiment Consensus Rating: Buy
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