The Lawyers will have to get full access on what those ~$200mil were spent on...and some elaborate invoices for "Marketing" and/or "Consultants Fees" will not fly...if the $200mil were spent legitimately then that would mean the asset value of the Bald Hill mine was greatly improved...and that will be very easy to validate by any Engineer = either the Solicitors will be able to call the bluff, however if true, this will then reflect positively. in the BUY OFFERS.
Also the DA will be starting to sweat a little bit if they need to explain:
* Why was the Li allowed to be sold at significant discount?
* What happened to the stockpiled Li when they took over control of BH?
* Why are they not putting a HOLD on mining operations after FIBR has announced rejection?
* Could there be Legal Action considered by some of the large holders against the DA now that all info needs to be revealed?
* She will be very happy....I will be half as happy as her....
Depending on/if those $200mil have been spent on improvements...$1.5-2Bil is a steal for any one of several potential majors...we all need to remind ourselves that BH is a quality deposit and the early recovery rates and quality of the concentrate was very good, with more improvements expected. So major will get a quality Mine & Deposit - fully operational and FULLY STAFFED, they could get rid of the excess weight by streamlining operations into their systems and have an instant significant boost to their turnover, AND just in time to capitalize on the net Li$$ spike.
All IMO but I can't see this going below $2Bil
A40 Price at posting:
8.2¢ Sentiment: Hold Disclosure: Held
