MINRES didnt do any due diligence, they terminated without any cause or DD in breach of contract.
POS have already stated they will litigate for damages for loss of $15M plus the royalties of $75M
Likely will settle out of court with MINRES paying POS out for $20M but getting nothing in return at all,
CE now a looser again like in AGO instead of a winner.
And now no Li HUB at LJ or a massive MILL either.
Great news for POS
Bad news for MINRES shareholders as SP drops back to $65 base camp as looks like market is smashing this back down $1B to pre-POS deal as they thought MINRES was going to get a new Li HUB but got diddly squat and litigation instead plus legal costs & damages losses.
Wonder if AF pressured CE once again out of the LJ deal like he stumped him over AGO also before and CE got scared off yet again?
MINRES havent explained anything as to the LJ deal termination and reasons and now the lawyers will have a field day. Looks like CE got bent over the park bench not POS LTHs as you had claimed.
$65 here it comes back down again boys & no LJ LI HUB.
Bad luck.
Ann: MinRes to develop lithium processing hub, page-80
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