Even if there is a $3.00 bid, and I'm not saying that is my...

Even if there is a $3.00 bid, and I'm not saying that is my prediction, the situation now is significantly different to 6 weeks ago. LTR is fully funded to production and beyond, we are getting closer to commissioning by the day and the likelihood of better prices for Lithium chemicals increases.

The BoD stated position on recommending an offer referred to on this thread and quoted in the Chairman's address does not provide any prediction about a future bid as circumstances have changed, and will continue to change. What was said yesterday was later qualified somewhat in responses to questions insofar as it was considered a full offer at the time. I took that to mean that if one took a short term view and then a bidder had to pump in a further large chunk of debt and equity.

As we get the project completed there may well be further proposals put, but the BoD will consider any new offer on its merits and will likely only support a higher bid now. How much higher I do not know. But a low ball offer which at one time I thought might come from Hancock, will be flatly rejected by the BoD. My current thinking is that if Hancock comes back with an offer soonish, it will be at $3.00 and even without board support they will pick up shares at that price, but they will struggle to complete a takeover without that board recommendation. I agree with @DaisyA that it might take $3.50 or $4.00 to get the BoD across the line when we get near actual production. I feel Hancock or any other suitor will be desperate to get it done before we get to make any shipments.

Just to further qualify my thinking, I am not saying that LTR is worth $3.50 or even $4.00. In the long term such a value will look cheap. With patience in my opinion the returns will exceed any transient bid price now by the proverbial country mile.

regards
DF