Ann: Proposal from Wesfarmers, page-307

I have said before and will say it again the first bid is very rarely the last.
I experienced the same during the nickel boom companies would not want to see a good resource going cheap and would start a bidding war in fear of loosing out.

Today with the litium boom it's no different a tier 1 resource and possibly one of the biggest will NOT go that cheap.
It's a opportunistic bid and either west farmers up it or another company will out bid them out of the race.
Where we are now we should expect a bid close to the $3 mark and not the meager $1.90.
Simple as that.
Management has not sold us out on the contrary they have put a bidding war in motion.
SQM would want the whole lot for sure the brine lakes have not been that outstanding any more compared with the hard Rock.

It's a no Brainer that a higher bid will come this is a world class lithium resource high grade and so much of it that KDR does not bother to drill anymore because they have found enough to keep themselves busy with what they have so far for the next 40 years.
Anyone selling now will miss out on this upside.
Watch the price go over the bid price in the next few weeks to come as shares will be accumulated in my opinion I have seen it many times before.
A bidder can come from various sources as lithium is needed by the car industry to be part of the EV revolution that has now started and is accelerating at an fast growning pace.
It will not just be the miners who will look at KDR now but battery manufacturers and car manufacturers alike cashed up with fat check books.
And ofcourse watch SQM it's all big business behind the nice words.

This is only the beginning and like myself there will be many holders who will vote No against this current low ball opportunistic offer.
Current share prices these days do not reflect the true value of most resources these days due to shorter bots traders and the like.
And that is very easy to see with KDR it was not that long ago that we were closer to going towards the $3 mark.

My bet is that we are going to get more offers and that the fight is far from over.

Good luck to all holders