@Freehold If I recall correctly two lithium explorers that you and I have both been owners of have had significant CR before release of significant results and went on to be fine.
Also to consider the dynamics of the "merger":
1 - MD of TAW is also a director on LITHCO
2 - LITHCO was also due to be conducting drilling on Bald Hill, at the same time as ours on Cowan, with more precise targeting due to historical results
3 - We just acquired LITHCO for 50M shares and the cost of earn-in obligation
You could argue that:
1 - If we waited LITHCO could have announced good results, potentially increasing the purchase price to more than 50M shares
2 - If we had bad results at hand and we released them, the owners of LITHCO would have done better out of the merger
My basic feeling is - I doubt Mark is the type to sit around and time drill results and high five his mates before hand because he managed to snag a few years salary even though results are crap.
Also they mentioned institutional support for this CR.
If you take a look at the other side of the fence - AMAL has on its sub holders since the LITHCO JV announcement: Regal, UBS, Credit Suisse, Harbour Asia and apparently more that are under 5%.
Mark seems to be quite a prolific consultant and project creator / facilitator, he can't burn the institutions it makes future work much more difficult. I very much doubt they will now burn these institutions with disappointing results, in fact its very odd to see them involved at such a stage in terms of risk - no JORC resource, no feasibility studies done on the plant.
I would say all looks good / healthy so far.
