Well that was a bit of a disappointment but with a short day and most big players on hols I'm happy to wait until next week, I'll still be on hols so can watch closely.
My reading of announcement " material transaction" also suggests a deal has be done and they are just waiting for the lawyers/accountants to sign off. A transaction implies an exchange has been agreed on, e.g. Offer group gives BGS money and in exchange BGS gives them lithium.
I believe that this was an expected offer not an offer from left field given all the discussions and MOU's with Chinese groups
I can't see them selling the lot to much upside to put a price on it now, so I'm guessing a $100m payment to lock up some supply and perhaps a strategic interest up to 30%....
Either way it should be a great way to kick off 2017
Enjoy the festive season everybody, talk to you in the NY
BGS Price at posting:
33.0¢ Sentiment: None Disclosure: Held
