Ann: Revised Proposal from Albemarle, page-779

Hi team, my dad @Twibell got me (and the rest of the family + friends) into LTR quite a few years ago. We are all much wealthier by virtue of his advice (cheers dad!).

I've never posted on HC before but this latest plot twist has been too captivating to resist! I (like many of you) are shocked with the BoD's 180 degree turn around on this latest offer. The one question that keeps cropping up is WHY (if $3 is NOT fair value) did the BoD not simply reject the offer? Was it to get ALB off their backs for 6-9 months so LTR can focus on getting to production? These endless negotiations must take up a lot of time/resources? Do our BoD know this offer is doomed to fail but have, prima facie, indicated acceptance in order to keep the SP stable leading into production/draw other bidders out of the woodwork? OR are these and all our other ulterior motive hypotheses just deluded optimist!?! PS - Thank you to all the clever LTR HC bloggers .I have learnt a lot!