Very interesting announcement, did not see that coming.
I have mixed feelings on this. Short to medium term, I expect this to stagnate the SP. We have been hearing from management the benefits of being a vertically intergrated supplier of lithium batteries but instead of news flowing about our battery plant startup, we get news on expanding our lithium resource and foot print.
Should management be focusing on getting the battery plant up and running before looking at such oppertunities?
Short to medium term, I want that battery plant up and running ASAP and delivering some of that much talked about "value add" and revenue.
Long term, we get the battery factory up and running, are generating some great revenue and margins,and control a larger resource base, this move will work in our favour.
The governments of the world are committed to having ground transportation electrified,so, as long as the battery plant delivers, this is a great long term investment.
GXY Price at posting:
30.0¢ Sentiment: LT Buy Disclosure: Held
