Ann: Update on Product Offtake-PLS.AX, page-223

Depends on the offer made.

In Galaxy and General Mining's merger the shareholders of GMM are being offered 1.65 GXY shares for every GMM one.

GAM are not listed so the agreement that MIN are working on with them has very little detail released to market.

I would like to know what value has been assigned to Pilbara's first rights in the purchase.

If Pilbara are not taken over then maybe the board might offer x% of shares to waive the first rights. Because $100 million isn't going to be enough to pay out the first rights though I would like to see the 100 put towards building the plant with some finance also.

Chinese companies like to hold at least 5% however the first rights could be worth much more than that as they can potentially cripple the company. Pilbara could potentially struggle to achieve finance until this cloud over the company is lifted.

I may have underestimated Chris Reed.. Though I don't think he is the one calling the shots on this one.

Maybe Albemarle will be Pilbara night in shining armour? - though they desisted Talison and would probably do the same with Pilbara which is a shame.

Pilbara should just start a takeover sequence now with any company and see what offers come in.

That would really frustrate GAM / MIN and get rid of the first rights as they have to make a better offer for the entire company.

Pilbara management could be very crafty on this.. But the takeover would probably also end up in the courts as GAM/MIN keep claiming that they have the better offer.

I really do believe that this is going to get nasty with Ganfeng behind pulling the strings of their puppets and has the potential to delay more lithium to market which is going to be very profitable for any shareholders of producers.

I am surprised that no news outlets have made any speculative comments.

Goes to show what we have known all along.. The only talent they have is copy and paste.