In effect, any counter offer has to be a 'hostile bid'. As this...

In effect, any counter offer has to be a 'hostile bid'. As this is seen, including the conditions, a 'friendly takeover'.

The way the BOD has played this IMO means that if the Albermale offer does not go through - unless there is a hostile bid in play - then it will raise questions around why has Albermale pulled out and what did their due diligence show. That will lead to probably SP decline for a few months until LTR hits production. It is why I think it is a done deal if Albermale says yes after a month (without a hostile bid in play).

I still feel the $3 offer price is well below true value of LTR as it does not take into account the 'downstream component' potential of LTR. As I posted in Post #: 69727109 current offer price is essentially attributed to the current DFS relating only to spodumene production, discounted for the fact that LTR is not yet in production hence 'risks' associated with production and pricing mechanisms. True value will be realised when in production and whether the DFS metrics are met - i.e. just need to look at PLS to get a guage as to what market cap could look like if highly profitable in production.

Smart move by Albermale - go for the raid pre-production as construction almost ends. Still find the BOD's decision a little strange given they knocked back the offer up to $2.50 per share. Them are the breaks I suppose - for early movers here still significant profits and I suspect a comfortable retirement and/or damn good start in life on the road to retirement. Well done - I came a little late here but still did ok, although would prefer production and dividends (as this appeared too me a very solid long term investment).

All IMO