Just wondering if anyone has some thoughts around the MRE and what/how many Mt would be required for the Independent Expert to deem the offer Fair/Not Fair & Reasonable?
It would appear atm any UP in bid from here on (excluding another 3rd party stepping up to the plate), would only be influenced by drill results/MRE etc?
Bearing in mind that AZS have 'announced' an exploration target of between 100Mt – 240Mt @ 1.0% Li2O – 1.5% Li2O.... and SQM have made an offer based on that exploration target (and other assays etc).....
Additionally, we may or may not even get to the MRE stage prior to the SoA/Takeover etc..... as AZS have appeared to push back the MRE release timing.... (see screen shots)
if you compare there Webinar news release on 18/10/23, their presentation states MRE in Q1 2024 and that has appeared to be the messaging from Tony and co....etc.... However the AGM announcement from 30/11/23, the MRE release timing appears to have been pushed back slightly, i.e. Q1-Q2 2024 (which could be too late for those hoping for a monster MRE prior to takeover...i.e. currently updated to mid-March as of today).
18/10/23
30/11/23
That's if we get eyes on an MRE prior to the SoA/Takeover going through, sometime March etc (which could be prior to an MRE being released)......
I realise there's still plenty of time/bridges to cross between now and then etc.... but if AZS come out with an MRE prior to takeover of (let's say) 225Mt, would the Independent Expert look at that figure and say, "Well that's within the Exploration Target, and the bid has been made by SQM and accepted by AZS board", therefore it's fair/reasonable etc..... OR would the Expert look at it differently i.e. @ a figure like 125Mt, and deem that the offer of $3.70 is NOT Fair/Reasonable for 125Mt?
I know us retail holders want a higher price and we all feel like $3.70 is a low ball offer etc, but we all get why SQM are shooting now, before this thing turns into a monster deposit etc.... and having to cough up a higher price....
So I guess the question is how big a number (Mt) e.g. 150/200/250/300 do we need to see, to force the Independent Expert to say NOT Fair/Reasonable? Keeping in mind, that the clock is ticking and there must be a tonne of assays @ the labs that are yet to be released etc.... so we need to see BIG numbers, Big True Width interceptions and quite quickly you would think....
Thoughts???
Cheers
