Ann: Revised Proposal from Albemarle, page-716

Cannot under-appreciate how many analysts, deal makers, lithium companies will be looking into this deck and go through each and every assumption with a fine tooth comb. They all have ability to run fairly sophisticated financial models even without access to data room.

I am encouraged by this call. Even though the board may unanimously recommend this transaction after a binding offer, and they have the blocking stakes to prevent a hostile takeover. There is still a possibility that a better friendly offer comes to table or an expert forms a view that this is under valuing the company that is <12 months away from production.