Good strategy to sell out when they did.
They had a minority interest in a mining operation, very little or no say in operations, pricing or sales, so the best thing to do was to monetize the asset.
The value add is what they are planning to do. They are also trying to be in front of the game in terms of product development and end of life processing for the batteries.
We can all be armchair critics of the board and say they should have done this or that, however, based on the knowledge they have and the relationships they have in the industry, and the steps they have taken to monetize the asset, I think they are doing an excellent job. They sold an asset when profits and prices were high.
They only had one or two buyers and one of the buyers set the sale price of the companies production, the other partner set the operating costs.
Where do you go with this one.
Once the company has a pile of cash, it gives them a lot of options as to how they are going to move forward.They have secured a downstream site for moving forward with production in the value add stages.
Despite wanting everything to happen tomorrow and have a share price in the upward direction, I am sure patient shareholders will be well rewarded.
DYOR
