IMO, Gina has the right to have a seat in the board by her 10.7% shareholding. I believe she will increase it to at least 15% before the AGM. When Tim is controlling the whole LTR with his 15% why wouldn't Gina have a seat in the board. No one can go against it IMO, it wouldn't be a friendly approach.
I also believe that LTR board will be happy to see Gina in the board as well.
It's my understanding that Tim and Gina were already talking about LTR's KV project long before ALB's $3 offer. I'm just writing a scenario here now;
Tim was explaining how good was the KV project and Gina was listening at the beginning of this year. And Gina was quite interested in KV project but she was taking her time.
I think ALB's $3 offer interrupted these talks and the board had to accept the offer because of the reason I explained before (because of future legal consequences of rejecting too many offers).
As you know ALB has made its first offer at $2.20 on Oct.20 2022.
Then ALB made another offer at $2.35 on March 3 2023.
There is a long time between first and second offers; nearly 4.5 months.
I think Tim and Gina started talking sometime between these dates. Say the middle; on January 2023.
LTR started the job in KV in October 2022 as you know. There was nothing done (other than exploration job) before that. As TO said they went there in 4 caravans and started the development in Oct. 2022.
Gina might be reluctant because she didn't buy any shares until April 3 2023. She was still researching about the lithium market and KV project. She took her time,.. but time was passing quickly.
Then bang..! ALB put the 3rd offer at $2.50 on March 28 2022. LTR rejected the offer.
Only a few days later, on April 3 Gina started buying like crazy. Only in April she bought 25m shares, but then slowed down after April.
Bought 7.4m shares in May,
bought 1.7m shares in June,
bought 8.5m shares in July
and something happened and she decided to buy a lot,
bought 67.6m shares in August.
She was in a hurry..!
That was total of 111m shares or 4.99% of SOI just before the $3 offer of ALB.
After ALB's $3 offer came out and accepted she bought 59m shares in one day on Sept.7 and reached to 169m and 7.72%.
I can't see any games are played by Gina here. She was genuinely wanting to invest in lithium business and as much as she learnt about KV project she loved it I guess.
Now she loves LTR like us and she knows bette than us that it will be cash cow.
Hancock's wording on its press release about the risks etc. is only for making the proposal, which is coming soon I believe, justifiable for rejecting ALB's $2 offer. Of course there are risks on the road to production but there is nothing major and with high probability. All major and minor processing machinery is already on site, most have already been installed, even the power cabling work is starting now.
I think the major parts of the plant will be ready for commissioning at the end of this year. And whole commissioning will be finished in the Q1-2024.
Everything goes very well by the plan.
Made 3 years ago
LTR's Plan is in executionI just found the graphic in my p
ost #:53781688 on June 11 2021 more than 3 years ago.
LTR put this graph on its "Investor Presentation - Kathleen Valley Lithium Project" on 17/05/2021 and I make some marks on it (all the red marking and writing are mine). The sp was 65c at the time of the post (you can see it on the post)
I was predicting a sp of $2-$2.5 in Q3-2022.
And it happened.
The sp exactly went to $2.20 in Nov 2022.
As you can see on LTR's plan below; it says the construction work would be completed in Q4-2023 and it happens now.
Now see my prediction for sp for Q2-2024 there.
It's $5+ and $12b mcap.I am quite confident now that it will happen.
Some more interesting antic graphics from my old posts below (Just for fun);
This is from Nov. 2019.
LTR was drilling Kathleen's Corner. Some parallel pegmatites were intersected.
But I was dreaming for the feeder zone.
I amended LTR's graph and extended it to the left (the white part) and said we could find the feeder zone here.
And it happened.
We found it under the Mt Mann pegmatites.
The pegmatites under the ground at the feeder zone were so thick and high grade it was unbelievable (SP was around 10c only).
I tried to explain the magnitude of the discovery by this graphic.
All of those guys ALB, etc were sleeping at that time, we were working..!
Sit back and enjoy now.
(20min delay)
