I think GLN has the option to go to stage 1.5 which could give income from an asset in the lowest quartile of the cost curve and could be achieved with their cash if a merger.
I have my doubts LLL will approach WR1, as it would struggle to get SH approval, given how risk averse many holders will be.
LLL is actually not looking as big a disaster for holders now given the sector has tanked, especially for the holders who’s shares were from the FFX distribution given FFX SP was pretty low for a lot of the time leading into the demerger. Many want their cash out.
Unfortunately the Li price looks like it could be in the doldrums for a lot longer and there is plenty of supply sitting on the sidelines. Not convinced we will see a big improvement in the next 6 months.
This has the potential for Renard to be a significant burden. Yes Its cheap if it can be put to use.
There is elements of LRS here with too much cash flowing out when conservation should have been the priority. The FTS requirements a possible cause.
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