Its a good move selling it. I had concerns of jurisdictional and permitting risks, timelines. Am watching as it the was the former parent of spun out WR1, and as has re-entered lithium market. So makes a decent cash warchest.
I think though, all you can really bank on is the up front portion, $A53.6m as other milestone payments face the same jurisdictional / permitting risks.
If the permitting was all going to plan, and the mine had good grades (no question), why are they selling it ? Clearly the market sees sovereign/ development risk. And then you can infer that the company does as well.
It has been the flag project for the company for many years. If they are now selling it, because ? does that not present same risk to the buyers, and milestones (payments) may be troublesome.
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