What many HotCopper posters do not realize is that at this stage...

What many HotCopper posters do not realize is that at this stage of development, Azure has confirmed very little. Until the MRE comes out resources at Andover are inferred. This is what SQM is relying on. Currently Azure has a batch of drill results that have not been interpreted to a recognised standard to provide a resource estimation. The current share price is basically 'blue sky' or to put it more relevantly 'Azure Sky'. Tony Rivera was being naive if he thought that potential buyers were going to wait until March before they put in a bid. SQM showed their true 'colours' when they purchased 20% of the company at about 24cents per share. They bought early at rock bottom prices, on little information.
This second bid to take over the company will be valuing the company on its 'proven value', which is very little. My guess is that the bid will be between $3 and $3.50, Now the current board could reject the bid, but they are all answerable to their relevant shareholders. In six months the MRE may have problems, or worse still lithium could be replaced by another metal. When cash is on the table, it is very hard to refuse it.
For all the small retail shareholders who post on HotCopper, you are better to accept the cash that is on the table and move on to another venture.

The X-factor here is Mark Creasy. He is not answerable to shareholders. His decision is going to be crucial.