Allkem (AKE) latest announcement

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To view the latest announcements, please click on the PDF links below.

Allkem delivers record FY23 profit of US$524.6 million

Annual Report to shareholders with Appendix 4E

FY23 Results Presentation

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summary of the article:

Allkem, a lithium producer, has released its annual report for the financial year 2022-2023.

The company reported a 62% increase in revenue to US$1.2 billion, driven by record lithium production.

The company's Mt Cattlin open-pit lithium mine in Western Australia saw a record revenue of US$615.6 million, up 36% on last year.

The company's Olaroz lithium facility in Argentina achieved record annual production of 16,703 tonnes, 30% higher than its prior record set in 2022.

All of Allkem's committed projects can expect to be fully funded by its strong cash generation, with an existing new cash balance of US$648.4 million.

The company is trading around $14.04 per share on the ASX, a 27% increase in price year to date.

In addition to the above, here are some other key takeaways from the article:

Allkem's strong financial performance was driven by strong operating performance and highly favourable market conditions.

The company is well-positioned to capitalize on the growing demand for lithium, with a number of projects in the pipeline.

Allkem has a strong cash position and is well-funded to execute on its growth plans.

Overall, the article paints a positive picture for Allkem, which is well-positioned to continue to grow in the years to come. https://www.australianresourcesandin...ar-for-allkem/

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https://allkem.us3.list-manage.com/t...2ee78bd]Allkem confirms material growth profile underpinned by 40 Mt[/url]
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https://announcements.asx.com.au/asx...69b730mv1z.pdf

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https://announcements.asx.com.au/asx...rnfz3yj74b.pdf

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This is a short article about the merger of two lithium producers, Allkem and Livent. The companies have received all necessary regulatory approvals to close the deal. The merger is expected to create a leading global lithium chemicals producer with a production capacity of approximately 250ktpa lithium carbonate equivalent (LCE) by 2027. The deal is expected to close on January 4, 2024.
https://www.kitco.com/news/2023-11-1...se-merger.html

Scheme Booklet: https://www.datocms-assets.com/53992...l-09-11-23.pdf