You know Mega, over the last few weeks, I've been considering taking a bite of Sigma, given its like ridiculously low cost for hard rock operation...Greenbushes levels. A few points to consider (all my opinion of course):
- Uncertainty whether it will be bought by a Chinese company. If such an event were to happen, I'm not sure at this point whether it would be positive for negative for SGML shareholders. My opinion is that any Chinese buyer will pay a significant premium as that premium would likely still be materially lower than any inputs sourced say from onshore (China) lepidolite operations.
- Ana, being of investment banking background intends to sell this puppy. Hence why she is happy to sell on spot as its more attractive to wider potential buyer pool being unencumbered by any offtakes.
- On the other hand, any takeover offer will most likely kick off a bidding war with potentially (IMO) PLS, MinRes that would be looking to diversify from their overly concentrated exposure to China.
- This whole fiasco with Ana and her ex-hubby might be a drag. To what extent...dunno. It is an unwelcome distraction though.
Thoughts all? (apologies for the tangent, I know its a SYA thread).
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