Ann: Tawana & Alliance to Merge and Capital Raising & SIA, page-192

My opinion is most definitely no 1.

With comments by Mr C recently it almost seems inevitable or that he is putting the feelers out there in public for a post merge takeover, come and get us. Maybe they have already had unsolicited offers and wants more attention to the fact were open for business (This goes against previous comments by him that it will be producing strong dividends in a few years). It’s not something I’d like to happen until at least middle of next year though when the second DMS is fully ramped up.

Given that Burwill have rights to full supply for 5 years, I’m not sure how that would work with anybody but Burwill making an offer. Minmetals is the first name that springs to mind. Self proclaimed Huge push into battery space, any amount of capital available to do so. Be interesting to see who the next offtake partners are or if it’s more of the same.

People don’t seem to realise how much lithium is at Bald Hill.
100MT is very conservative based on comments from the company. It will likely prove up similar to KDR or bigger but let’s take 100MT. That means you could run 3 x 1.2 operations for 30 years or 4 for 20 years. There will be no need for supplying extra ore outside Bald Hill imo.

The big gains get made being in early and it looks to me that’s what Calderwood has his eye on again. There has been some bad sentiment in lithium the last 6 months but it will turn and it looks to me like he is positioning SpinCo for Tawana part deux. Australia is the first choice for anybody wanting future lithium supplies