Very... very ...importantly, bids by five companies provides competition to what is essentially a financially distressed company. If it had been one company it could have given a real low ball offer. There would be numerous companies out there doing the maths and assessing that with the appropriate investment of funds they could have their own site in production just in time for the expected increase in Lithium to happen again in 2-4 years. With a large JORC this will provide their own important part to the integrated supply chain. But there is still a long way to go. There will now be I suspect some frustrating months of radio silence while offers are prepared and received. This could go really well or really badly. Management will be limited what they can share with holders until final announcements. That will suck.
LEL Price at posting:
34.5¢ Sentiment: Hold Disclosure: Held
