The point is that as long shorting is going on GXY making any script over not attractive to us, they will also keep shorting A40 until they get to acceptable level.
The most funny thing is that weeks ago when A40 was mentioned by me or other posters on GXY tread, the common response was who need A40 when we have SDV.
Today is totally opposite. Seems everyone happy to get rid of SDV and get into hydroxide thru A40 and how good and smart Rowley is with investment in BH/A40
It is clear that there will be no cash offer and talks with expansion and supplies to Jiangxi is already underway regardless who will sign JV , A40 or GXY.
Even on GXY tread they agree on this.
IMO the whole exercise of today's news in AFR is to scare shorters so they can save money on
SP buy back. Like few here mentioned, Anthony already talking like owner of A40 and don't be surprise if Jiangxi will support them all the way.
Even 100% premium to our SP is not what would make many of us happy. New shareholders perhaps will enjoy such reward.
Holding PLS for almost 4 years I have seen many quality announcements (like we expect them soon) totally destroyed by shorting, so I no longer keep hopes in SP march to north (maybe few days).
Counter offer from other party is the best I hope for, but so were the hopes of KDR LH's.
Not giving up, I will again be a buyer of A40 as it looks like any purchase now sound like guaranteed good return.
May even sell my shares in GXY now and get more A40.
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A40 price action, page-851
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