I think 'respeculator' put it best on Twitter. Albermarle was offering to buy LTR at A$6.6B MC, with the project still years from cashflow and with all the capex/development/ramp up risk. At the same time you could buy PLS, with existing cashflows and none of that risk, for A$8.5B EV (technically EV is slightly higher because I think he was counting the full cash pile, but they owe about $770M in tax).
Doesn't mean that PLS represents good value yet (most shorted stock for a reason, I think) but it shows how incredible the LTR offer was.
Ann: Capital Raising Presentation, page-16
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Last
74.0¢ |
Change
-0.030(3.90%) |
Mkt cap ! $1.794B | |||
| Open | High | Low | Value | Volume |
| 77.0¢ | 77.0¢ | 73.5¢ | $12.03M | 16.10M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 339920 | 74.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 74.5¢ | 109036 | 6 |
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| Last trade - 16.10pm 04/10/2024 (20 minute delay) ? |
| LTR (ASX) Chart |