You said.....
I like that. It also sends a signal to China itself that if they play ball they will not be excluded. I think it is a good move by LTR but time will tell. Love your posts by the way.I love your contributions DaisyA, but I don't understand how this sends any signal to Chinese buyers that they need to play ball (there are physical reasons why my brain may not be working well today, so be kind and please explain).
We have negotiated a price based on the prevailing carbonate price but it appears China is manipulating this price. Why? Because the demand currently is not sufficient, allowing them to tip the market into surplus by bringing online "domestic" supply. Therefore, unless something happens in the interim, such as a surge in demand or depletion of "domestic" supply, I cannot see price improving, at least in the short term.
I am positive on price over the longer term, as Western supply chains get built out, but I don't know how long this is going to take, and the likelihood of a Trump presidency is a big overhang on the market. At this stage it is hard to predict how a Trump presidency will play out for the energy transition. On that note, I doubt we will here anything on any LTR/ LG Enery downstream JV until after the US elections and we have more certainty over policy.
Other than perhaps doing a capital raise after the $2.50 bid, removing the need to finance, I don't think our BoD have missed a beat. They could not have foreseen Gina coming in to block the $3 bid in fairness, but maybe they should have been more conservative and done more to mitigate risk at $2.50. Hindsight is 20/20, and Gina caught the wholearket by surprise, not just out BoDs, so it is hard to be very critical.
I'm sure TG was gutted by the events, not just for himself but many family and friends, and all shareholders. It is clear to me they have since put their heads down and executed this massive project brilliantly and on time.
I liken LTR to a champion racehorse. They know how to win, they keep winning and you never bet against them. I have every confidence they will continue to succeed no matter the obstacles.
All the best (from my ICU bed
G
(20min delay)