Deals
Giustra-Backed Lithium X Plunges on Doubts About Chinese Buyer
- China’s NextView failed to come up with cash on separate deal
- Skepticism about lithium’s outlook amid talk of possible glut
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A lithium explorer backed by Canadian mining magnate Frank Giustra dropped in Toronto trading amid speculation that its prospective buyer, a Chinese investment company, may fail to cough up the cash.
Vancouver-based Lithium X Energy Corp. fell the most in nearly two years Wednesday, the latest casualty in a sector that’s been pummeled this week on forecasts that a supply glut may loom for the metal used in electric-vehicle batteries.