THE COUNT DOWN: Liontown crushes first ore at Kathleen Valley!, page-36

I think anyone happy to sell now at a $4bn valuation = $1.66 SP, must have rocks in their head!

These figures / similar, are often quoted, for good reason:

PLS $12.6b MC - capacity 680k 5.4%
LTR $2.7b MC - capacity 610k 6%

Yes, PLS are years ahead, and have more capacity scheduled to come online.

But I can't see a reason LTR won't be at least 2/3 value of PLS, within the next 12-18 months / at nameplate.

So my reasoning (could be total hogwash) is right now, any offer under $6bn, wouldn't be entertained at all. That's still only a SP of around the $2.50 mark, 20% or so under the previous offer.

LTR is a multi decade asset with a high quality product. Sure, there's likely to be production ramp up issues and other teething problems, but that goes with the territory. And look at the Tier 1 non-Chinese offtake partners lined up. That's a very strategic move.

My guess is someone like RIO will come in with an offer, once production has started and things are running smoothly. They'll be happy paying a little more for it to be proven up and totally derisked.

$2.50 would be tempting at this moment (would net me around $600K), but my gut tells me it should be worth a lot more than that within a year or so, and I'm happy to hold out.

Exciting times, especially for those who got in big time, a lot earlier than I did!