I think many happy that at least something is happening. Too bad so much secrecy. I assume that it is CODELCO demand. I do not think it is nationalization or like, because LPI agreed to access to books. Offer is likely, but I do not expect it will be over $1 (I will be happy with it). My wild guess it $300-400M USD for the asset; only because CODELCO is backed by state run by socialist.
I think likelihood of offer not more than 50%; there are other options - joint venture or large scale investment at premium price ($50M for 30% - but we will live you alone...). It can be even more complex (30% of Stage One for $50M and 50% of stage two for $1).
I am not selling despite the surge. Hope it is right decision.
Good luck to all.
LPI Price at posting:
36.0¢ Sentiment: Hold Disclosure: Held