Because, firstly they need 90% to force acquisition.
And if they want to turn to a opportunistic predator, thats fine. But, they wont get it all for discount. Perhaps they soak the real weak hands, and get a decent stake. But eventually it closes out without the majority stake ?
But if they want the rest of it, they will need to come back with a second offer, and they can then pay up for what the crusted on longs demand.
Those crusted on longs know what assets we have, and that simply playing the waiting game for lithium 3.0 is a proven asset, has multiples to redeem. Thats a decent bet.
if not strategic A attempts the come predator, risk that we strike up a deal with another strategic B.
WR1 Price at posting:
30.5¢ Sentiment: Buy Disclosure: Held
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