Its pretty simple, a take over now for 6-7bn with alot of risk still to come with commissioning, underground mining of lithium not yet proven, processing to spec and funding is a good price for a TO.
Yes you can dream of higher share pricing once into production but take a look at PLS during commisioning, it took them 1.5 yesrs to produce decent concerntrate and lithium prices tanked during that time where PLS droped to 15c.
Its all about risk v reward and the risk of the unknowns going forward (although LTR have done everything pretty darn good so far) are just that, unknown.
A TO price for a non producing assest around half of the MC of PLS is a pretty damn good deal.
Who knows there could be a counter bid but with LTR BOD recommending SH vote yes to this i think IMO its a done deal!
Ann: Revised Proposal from Albemarle, page-784
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