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12:45
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Originally posted by w27:
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A lot of people are critical of management here. But, what do you do if you have a share price of 30 cents. They have tried to get financial support from off-take partners and, we can assume, that was unsuccessful. I would assume that the offer of 50 cents was on the table for some time if the Board was prepared to recommend it. They decided that that acceptance was the best strategy available. Shareholders now have a minimum of 50 cents almost guaranteed if they want it. We already have strong buying pressure above the offer price, and it is very early days. We are now on everyone's radar. The people interested in near term supply of DSO or spodumene have to think very carefully how they react and put up or shut up in the next few months. This has a long way to go and there is a lot of time left. I think that the advance to date has been very encouraging. Yesterdays significant rise on relatively low volume is very encouraging. The sellers are very few indeed, the buyers are five times the sellers and, if you follow the daily turmoil closely, you will see that most of the buyers are not listed on the market but seem to just take out listed sellers. The other very encouraging sign is that the size of buys are five to ten times the size of sells. This is a huge transfer from small time players to serious players, be they funds, sophisticated investors, potential off-take partners or people interested in take-over. We are at the very beginning of an exciting journey and never forget that it is shareholders who get to decide if the 50 cent offer is acceptedor not.
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Of course, we’re critical. Why aren’t you? If that’s not an ulterior motive - don’t know what is.
