General Discussion Banter GLN, page-17688

Pete with no disrespect, as I do enjoy your posts. Open pages 1 of this thread and you'll find me there unlike most of the other names. Equally I was very open about my position, sold at less than half the peak because of personal circumstances and yet continued to post as it went up. Did I come around and rub salt into wound of others absolutely not. I was quite happy to see this rocket despite not being on the ride.

Re the Renault et all offer, once you backed out the taxes, costs etc I'm not sure you'd get close but we can agree to disagree. The offer was conditional, based on a desktop valuation with no access to dd. If it was binding i would take it more seriously, we've seen the outcome of two dd processes to date. Despite this being touted as a tier 1 asset, does it not intrigue you at all that there hasn't been more interest in buying the company. I've banged on about this for a long time but the company has no takeover defences in place and I'm sure many would take a decent premium today. Many incumbents have combed the globe looking at assets, sqm, albemarle, pls, ganfeng, huayou, sinomine, tianqi, etc etc, yet here we are. Sqm i would have thought would be the prime candidate, they chose to diversify into hard rock alongside wesfarmers. This was before their issues in Chile and geopolitics came into play so can't say jurisdiction risk was a key driver.

I post negative sure, as I do on LTR threads if you've checked my positing history. Personally I see no value in back slapping and posting with euphoria when there are fundamental issues people like to gloss over. It may be hard to hear but it is what it is. For example near term producer gets thrown around a lot, that argument has worn thin and you very well know how many times that start date has been kicked.

Given what's happened here over the years I dont know how the management team can give guidance on start of production with a straight face. No clarity on how or when authium will fund their capex and no deadlines imposed for that to happen. So as I see it, it's another strategic partnership that may amount to nothing. Forgive me for being sceptical after the last 2 merry-go-rounds.

Difference with sya and cxo is if prices were to turn around tomorrow, they'd be making money while galan would be waiting for authium to build a tiny plant. Yes if it works and happens as they say it will be great but any meaningful cashflow is years away, that has opportunity cost written all over it. Comes down to your appetite for risk, time horizon etc. I've said a few weeks ago i expect this to linger around here for a while but generally agree with you there is a base now so you may consider it one sided risk and are happy to wait etc

Aimo