Ann: Notification of holdings, page-3

Interesting development.

Alpine 5%
UBS 6%

So perhaps 11% that might see an advantage in voting no.

Total of 25% or perhaps slightly less as not everyone bothers to turn up to vote is enough to block the scheme of arrangement.

Succeed in that and 5% is enough to call for a board spill. Which in the event of a failed Scheme of Arrangement might find quite a lot of support for just about any other warm bodies than the current board.

Is there enough votes around willing to vote no as a blocking stake to the Scheme of Arrangement?

I believe the share price will fall if that happens. But I also believe it will rebound again especially if the current board is moved on. I think it will rise again because WES recognized the value in the assets and the partnership with SQM because there is value in the assets and the partnership with SQM. And they WES won't be the only ones.

I don't believe the current offer is fair. I think the experts are constrained by what they can include in their valuations to that which they fell they have a "reasonable basis" for. But "reasonable basis" doesn't mean what an ordinary person would think was a reasonable basis. It's counter-intuitively restrictive in my opinion.

I believe an ordinary person would not think multiple drill holes through 20 meters of pegmatite near Mt Holland (Van Uden and Bounty) (is nearly valueless - they would think, I believe, it well might, (good chance) with more drilling given its proximity to the drilled out and JORCed up nearby peg - be similar to the one that is drilled up and proved out. I think an ordinary person would think that because an ordinary person would think that geology and natural forces don't care about disguises. What geology and nature and natural forces did in one place it likely did similarly in another nearby place. In my opinion.