That's an expensive (cash) cow, when you can but the milk at BMX, even paying overs. CATL, Ganfang and POSCO holdings may have something to say about it too. I reckon there would be plenty of other investors (retail/super) ready to let go at $4 or $5 though. Cash poor juniors would be a cheaper offering if someone is looking for longer term supply. POSCO have been wise with respect to the JV as that guarantees them product.
If it were to happen, you'd first likely see a minority stake and directorship appointment, so they can conduct appropriate due diligence. They'd get a decent stake < $3 right now.
Spodumene Prices, page-2558
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$2.96 |
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