Albemarle, the world’s largest lithium chemical manufacturer, observes a notable 7.7% surge in stocks to $177.52, reaching its peak since September 20th.

Liontown Resources of Australia announced a week’s extension on its exclusive due diligence period for their proposed $4.23 billion buyout by Albemarle.

This extension follows Hancock Prospecting, a company under the control of Gina Rinehart, Australia’s wealthiest person, escalating its stake in Liontown Resources to 19.9% on Wednesday, potentially hindering Albemarle’s takeover efforts.

To succeed with its bid, Albemarle requires 75% backing from Liontown Resources investors in a shareholders vote.

Up until the last closure, Albemarle has seen a 24% decrease this year.

Albemarle (ASX:ALB) is globally recognized as the largest manufacturer of lithium chemicals.

Enterprise software maker, Atlassian (ASX:TEAM), saw a small decrease in stocks by 1.1% hitting $197.30 in the premarket.

The downturn comes after the announcement that Atlassian has agreed to purchase Loom, a video messaging platform, in a deal valued around $975 million.

The terms of acquisition include approximately $880 million in cash and the remainder to be paid in stock, according to the company.

The purchase agreement is expected to conclude by the third quarter of fiscal year 2024.

Prior to the announcement, Atlassian’s stocks had risen by approximately 55% for the year.

Atlassian is a prominent maker of enterprise software.

Admiralty Resources (ASX:ADY) has announced that the construction of its Mariposa project has entered a new phase, which is believed to be the installation phase.

The company anticipates it to be on track for production in 2024, amid the continued strong demand for iron ore.

In addition, Admiralty Resources is actively seeking approval for the installation of a 23kV electricity transmission line to the project.

Admiralty Resources is a mining and exploration company, primarily engaged in the discovery, development, and processing of iron ore.

Shares of Albemarle (NYSE:ALB), the world’s largest lithium chemical producer, increased 1.85% premarket.

This was after Liontown Resources (ASX:LTR), an Australian company, announced an extension of the exclusive due-diligence time frame by one week regarding its proposed $4.23 billion buyout of Albemarle.

This extension comes amid Hancock Prospecting, a company controlled by Gina Rinehart, the wealthiest person in Australia, raising its stake in Liontown to 19.9% on Wednesday, which could deter Albemarle’s takeover attempt.

For the takeover to succeed, Albemarle needs 75% approval from Liontown shareholders.

As of last closing, Albemarle was down 24% YTD.

Albemarle (NYSE:ALB), based in the United States, is the largest producer of lithium globally.

Fortescue Metals Group (ASX:FMG) has reiterated its plans to continue the ramp up to full production capacity of 22Mt per annum at its Iron Bridge operations.

This growth level in production remains unchanged and is expected within the next 24 months.

Moreover, the company’s FY24 guidance for total iron ore shipments maintains steady at a projection between 192 and 197Mt.

The mentioned shipment figures include about 5Mt from Iron Bridge.

Fortescue Metals Group reaffirms their FY24 guidance for total iron ore shipments to remain unchanged at the aforementioned figures.

Fortescue Metals Group is an Australian multinational corporation known primarily for iron ore extraction and processing.

Shares of Black Canyon (ASX:BCA) experienced a significant increase, rising as much as 11.11% to A$0.150, indicating their best performance day since September 8, if the gains persist.

This surge follows the announcement of drill results confirming shallow manganese enriched shales at KR2 Prospect within the Balfour Manganese Field in the Pilbara region of Western Australia.

Approximately 25,000 shares exchanged hands, compared to the 30-day average volume of 24,309 shares.

However, despite the recent spike, Black Canyon’s stock is still down around 44% for the current year, as reported after the last closing.

Black Canyon is a mining and metal company based in Australia.

Tamboran Resources (ASX:TBN) shares fell dramatically, by as much as 10.3%, to A$0.13, marking its biggest single-day percentage decline since September 26.

This downturn puts Tamboran Resources at its lowest stock level since September 27.

The company has decided to delist from the ASX and become a part of a newly formed corporation, Tamboran US HoldCo, based in Delaware.

This move will see Tamboran Resources and its units re-domicile from Australia to the United States.

In announcement, Tamboran Resources disclosed that Tamboran US HoldCo will be the parent company of Tamboran Resources and will retain a listing on the ASX through Chess Depositary Interests.

The news led to nearly 2.3 million shares changing hands, 3.5 times the 30-day average volume of 643,456 shares.

In a year-to-date measure, the stock fallen 39.6%.

Tamboran Resources is an energy company specializing in the development of natural gas resources.

The ballistics and technology firm, XTEK (ASX:XTEK), announced that its HighCom Armor Solutions Inc department has received a crucial $1.41 million body armor order from an overseas client.

The company is also concurrently entering negotiations for several more orders of similar sizes.

The firm saw a significant increase in activity, with around 481,952 shares traded, outstripping the 30-day average volume of 219,513 shares.

Despite this positive news, XTEK’s stock has experienced a 34% decline this year as of last close, contrasting with the 0.7% rise in the S&P/ASX 200 index.

XTEK (ASX:XTEK) is a company specializing in ballistics and technology, highlighted by its recent significant body armor order.

Shares of 88 Energy (ASX:88E) climbed as much as 8.3% to A$0.0065, representing the largest intraday percentage gain since October 3.

The company announced that under Project Phoenix in Alaska, the flow test planning and permitting for its Hickory-1 well remains on schedule and is targeted to begin in early Q1 of 2024.

88 Energy (ASX:88E) also shared that it is reassessing the potential of its neighboring Icewine West project.

The company pointed out that sustained positive Alaskan activity, including recent exploration farm-out’s with new investors, reflects ongoing confidence in the region.

They have also added two newly identified prospects to the independently certified prospective resource in Project Peregrine.

Despite the recent surge, the stock is down about 45% year-to-date, as of the last close.

(88 Energy operates as an exploration company with a primary focus on acquiring and drilling oil projects within the state of Alaska.)

Atlas Arteria (ASX:ALX) has secured new debt financing for its Chicago Skyway, which, according to analyst predictions from RBC Capital Markets, will aid the company in meeting its distribution objectives.

The toll road operator successfully raised $155 million worth of bonds in the US private placement market, adding further strength to its finances.

Moreover, Atlas secured agreement pricing for the refinancing and enlargement of current bank facilities in relation to Chicago Skyway.

RBC expressed confidence that the new financing will provide Atlas greater assurance to meet its 20 AU cents per share second half of 2023 distribution guidance.

In response to these developments, Atlas' shares have witnessed a surge, increasing up to 1.9% to reach their peak since September 22.

However, despite this surge, the firm’s stock remains lower by approximately 14%, compared to its start-of-year position.

Atlas Arteria is a global owner, operator and developer of toll roads, with a diversified portfolio across four continents.