Hmmm… when there was speculation about LTR in the media re...

Hmmm… when there was speculation about LTR in the media re Albemarle in May the next morning, after a pause in trading at 9.48am and no TH, at 11.19.06 am we saw the LTR response denying any formal TO proposal.

When PMT was subject to TO rumours in June 23, there was no TH or pause in trading just an announcement denying any TO proposal.

The response in both cases was a short paragraph ie. a few sentences denying the rumours.

I have seen other stocks in similar situations over the years and they have been quick to deny rumours. That is if the rumours are false the company quickly denies them.

So what do we make of a lack of response today from AZS to the rumours? If there has not been any contact by a possible suitor or no proposal to AZS, then why has AZS not responded by denying the rumour? It does not take long to draft a one paragraph response and obtain board approval.

Not sure I buy the excuse of the time difference with Chile since if SQM or another suitor from overseas has not approached AZS then there is no reason to wait for a response from SQM or Wesfarmers.

Until we see a response from AZS we are speculating. However, todays silence from AZS in not denying the rumour does make one wonder what is going on, maybe suggesting there is perhaps some element of truth in the rumours even if the mention of SQM or Wesfarmers is off the mark.

Creasy’s 40% ownership of the project does complicate the rumours. Is it possible the TO approach has been made to Creasy for his 40% and not AZS or possibly to both AZS and Creasy? If so that may explain the silence from AZS.

Shareholders find themselves in a mysterious situation but I find it difficult to conclude the rumours are false ie there may be an element of truth in the TO rumours.