For once I disagree with the bulk of your post.
However I will only speak to your hypothesis regarding A40. Acquiring A40 through a significantly dilutionary method that would still require GXY to commit significant levels of cash to pay off debt, continue C&M and go exploring would derail the company plans to expand the undeveloped high grade assets it currently has. If the goal of the exercise is to expand GXYs resource base, why bother? SDV is a massive high quality brine resource. James Bay has a JORC close to 40mt at ~1.4% IIRC. A40 is a low grade resource.
The major benefit that GXY received from MtC was that it was operational while peak spodumene pricing was flowing. I believe GXY needs to develop its existing high grade projects that will be integrated Li Chemicals producers is a much stronger strategy than using finite financial resources to buy a low grade asset to keep in C&M until the sector is rosey again.
AIMHO
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