I'm in your corner Morry.
In my view, no buyer could have acquire TNG at a large discount in the last number of years for the below reasons:
On the TIVAN business model.....i think its closer than we are giving credit.
- The risk/return profile wouldn’t have stacked up over the last number of years for a potential buyer. The only de-risked event of the last number of years is the EIS at mine site. Items not de-risked = FEED/EPC/Guarantees, Darwin EIS and Darwin land....they are all company making events and too risky to acquire pre.
- Any purchasing on-market by a potential buyer would have been driven the price up to much higher levels than $250m market cap. I reckon someone taking 10% of the company would have had to bid up to those levels. The risk on buying on-market is you get caught in no mans land between control at 50.1% and 90% compulsory acquisition.
- Any off market takeover (ie. Via Scheme) wouldn’t have been considered by the board.
https://www.energy-storage.news/new...s&utm_medium=rss&utm_campaign=general
In great news also vanadium pentoxide 98.5% pricing up to $8/lb (USD) which is $10/lb for TNG's 99.6% premium product.
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