Firstly
@TrayonRanger don't worry buddy you didn't miss much. I did receive a phone call from an unknown caller so I didn't pick up. I presume that was them but I also received their email which is below for anyone interested.
So let's analyze this email.
Firstly, Hancock Prospecting has not given any reason as to why we should sell at all. I would have thought it reasonable for them to provide a compelling case as to why we should sell. They give none.
Secondly, Hancock Prospecting is offering to buy our shares for $3 per share with the sweetener of no brokerage. Big deal - that is also what ALB is proposing. The free brokerage is so insignificant it is irrelevant.
Thirdly, if Hancock Prospecting is prepared to pay us $3 today does that mean they think they are only worth $3? Of course not. They know as well as we all do that Liontown's Kathleen Valley deposit which is the world's 5th largest hard rock lithium deposit is on target to come into production in mid 2024. LTR has a "small funding issue" to cover off but could be covered 5 times over within its first year of operation from - in Tim G's words $2.5 billion of free cash flow. In other words, it's not an issue at all. Lenders ( including some government-run institutions) appear to be very eager to provide the needed funding - so more external funding should not be required.
I think Hancock knows only too well that this share will multibag from this level, probably within three years. The current dip in Lithium pricing is transient. Hancock knows that the surge in demand and the insatiable appetite of the OEM's and processors will only get stronger. There are simply not enough new mines coming online to meet the demand. We are in my opinion ( and I think they know too) approaching the "Perfect Storm" - a storm where demand and supply are so far apart that prices have only one way to go. LTR is poised to ride that wave.
Thirdly, why would anyone do this when such a sale would create a CGT bill in this current Financial Year? Prudent planning by anyone even if you did need to sell would preferably be split over several years to suit your own personal circumstances not to suit the timeline or whim of an opportunistic buyer. This doesn't take into consideration the prospect of dividends within 3 years. Sell now and you pay CGT -wait 2-3 years and you get year on year income - potentially for the next 20 plus years. LOM is 25+ years so it's not inconceivable to get at least 20 years of dividends. Sell now and you get none of that.
Why would anyone sell now when we are less than a year from production?
Lastly, the downramping and ridicule of the way the project is being run as seen in the Press releases by Hancock Prospecting should be seen for what they are, a straight-out attempt to keep the price down so that they can get as many cheap shares as possible.
DYOR please don't take my opinions as advice, they arent- they are just my personal view.
(20min delay)