Ann: June 2024 Quarterly Activities and Cashflow Report, page-83

Hi @Gajet. Because I see that as the purpose of a discussion board. I have often benefitted from reading a rationale counterview, especially from a non-holder who by default is less biased than a holder. I enjoy Anatol’s posts but sometimes the hype probably needs some pushback. Ultimately, judge each post on its content, mine included. Is Greenbushes really running out of profitable mine life when professional modelling shows it operating out to 2040? Is it really likely that ALB would think of coming back to make another bid given what the market has done, and where they are operationally? If they even did, do you think it would be anywhere near $3/sh now?

I think LTR have done a fantastic job getting to first concentrate in the timeframe they did (capex blowouts notwithstanding) and there’s lots to like about how the company has executed. But that aside, I’m happy to go on the record and say I don’t think this will ever trade near $3/sh ever again. It was an absolutely wild valuation they were offered at the time and beggars belief that people thought it undervalued the company. I guess that’s what bull-market commodity spikes do to people. Doesn’t mean it can’t be a good investment from *these* levels but in my own opinion I’m firmly of the view that holders will eventually look back at September 2023 and think “what was I thinking?”.