Here is my read on it.
JP is positive on Greenbushes South but he has been playing his cards close to his chest and downplaying its potential.
100% ownership gives them option of a spinout, which they will likely use when Galan is taken over for its Argentine projects.
Galan (Candelas & HMW) likely to be taken over for circa $940M USD post BFS by a major, in line with recent nearby acquisitions.
So, at least $4.50 a share, plus free shares in the spinout.
All speculative and IMO, of course.
Ann: Galan Moves to 100% Ownership of Greenbushes South Project, page-20
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