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clock Created with Sketch. 06/09/23
17:46
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Originally posted by CDLC1986
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If this is a tactical move by the LTR BoD, the clue is in the wording 'best and final offer'. As many have already pointed out, these words have legal implications namely, ALB are prohibited from making another offer for a period of 4 months if the SoA fails and in the absence of a superior offer. WHAT IF by conditionally endorsing the offer, LTR are intentionally locking ALB into an offer to buy price capped at $3 for at least the next 10 months (6 months of SoA implementation + 4 months prohibition once SoA fails) i.e until (almost) production...
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This is why HC LTR posters are awesome - different backgrounds with different expertise. The awesome Anatol with his industry/mining knowledge and CDLC with his legalese and contract wording. Sounds about right to me - good explanation.
(20min delay)