US LNG exports surge but will buyers in China turn up?
Roger Noriega, a director at Atlas (NYSE:ATCO) Lithium Corp (NASDAQ:ATLX), a $68 million market cap company whose stock has declined 74% over the past year, recently executed a series of transactions involving the sale of common stock. On April 9 and 10, Noriega sold a total of 25,000 shares, with prices ranging from $3.95 to $4.00 per share. The total value of these transactions amounted to $99,500. Following these sales, Noriega holds 330,194 shares in the company. These transactions were disclosed in a Form 4 filing with the Securities and Exchange Commission. InvestingPro analysis shows the stock generally trades with high volatility and maintains a strong cash position relative to debt. According to InvestingPro’s Fair Value model, the stock appears undervalued at current levels.
In other recent news, Atlas Lithium Corp announced the termination of its material definitive agreement with RTEK International DMCC. The termination followed a dispute over the fulfillment of contract terms, with Atlas Lithium citing RTEK’s failure to deliver a critical updated study on time and other contractual violations. Despite these issues, Atlas Lithium expects no early termination penalties due to RTEK’s breaches. To mitigate the delay, the company has engaged SGS (SIX:SGSN) to prepare a Definitive Feasibility Study for the Neves Project, which is expected to be completed by mid-2025. Additionally, Atlas Lithium has strengthened its internal team by appointing a Project Management Officer and a Vice President of Engineering to ensure the project’s advancement. These developments indicate that Atlas Lithium is proceeding with its project plans without significant setbacks. The company has noted that forward-looking statements regarding the agreement’s termination and project progression are subject to risks and uncertainties.
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