hi @dynofishThe ALB offer is only best and final in the absence...

hi @dynofish

The ALB offer is only best and final in the absence of a superior proposal and the board has yet to formally recommend the ALB proposal to shareholders. A superior proposal from Gina in the form of "I have outlined all the potential risks with KV and with me as a major shareholder (now the same as TG) and as a director I can resolve these, including funding" would, if accepted by the board be a superior proposal, mean that all bids are off the table and is reset. Gina will argue that the board is entitled to change its mind and accept her help to go mining as a "superior proposal". This is why she has been so scathing in her criticism, so she can fix it with a "superior proposal". The ALB offer is dead but they are then not prevented from themselves making another "superior proposal" at say $4 because their initial $3 offer has been legitimately rejected by the board of LTR.

The problem for LTR is that there were no other bidders which is why ALB was getting this for a steal. Gina is a godsend, her blocking stake is like a competitive bid even though I don't believe she intends to bid and is more than happy to go mining and refining with us. I know many don't see it this way but I say Go Gina. Her strategy is clear and even the press is starting to realise this. So to answer your question the ALB offer is not best and final because we will shortly have a superior proposal. Their only options are then to make another better proposal or leave us alone. Gina knows this very well IMO, she can't lose here.