"As I've said before, the only hope for a stop/delay is
(1) ASIC in its review of the draft Scheme Booklet has a problem with the valuation/seeks more disclosure or
(2) the Court at the Second Hearing same/same, when as shareholders we have the right to be heard/affidavit"
Glad someone knows the procedure here.
Regarding point 2.
I am in Thailand and wont be able to attend the Court Second hearing. There will be many others who wont be able to attend.
Can we submit a statement/affidavit listing all shareholders that oppose the Sceam based on something along the following lines:
* the Independent experts (IE) report is out of date as it does not include the latest drill results, Target area 3.
* we consider the Sceam offer to be totally inadequate in light of what has been discovered to date and in light of the fact that exploration has hardly scratched the surface.
* the MRE is due in June/July when we will have a better idea of the value of the project.
* what also needs to be considered is that Management have previously stated that the MRE will not be the end of the story. They expect to undertake a lot more drilling and are of the opinion that there is a lot more to be discovered.
Management also have previously indicated that Andover could well end up being one of the top 3 Lithium deposits in the world.
Thus any decision on the Sceam offer needs to be delayed until then so that the IE can give an up to date and accurate opinion on the true value of the project and the fairness of the offer.
* the mum and dad invertors are getting a raw deal as regards Investing in the ASX. A lot of us have been invested in this Company for close on 20 years. We dont like the fact that these johnny come lately whales have come in to try to pick up the project for a song.
I was told that they "expected" drill results for Target area 3 to be available this week.
Disappointing it hasn't happened but I would hope/expect to see the drill results next week.
It would be interesting to see when drill results are received by the Company and when the announcements are made.
What is killing us here is the current Lithium price. Can only hope that it picks up in coming months. If it does it is more ammo for a review by the IE
Add to My Watchlist
What is My Watchlist?