Unfortunately, IMO, this is very, very personal for JP. He sees...

Unfortunately,

IMO, this is very, very personal for JP. He sees this as his baby, and he is going to develop it through to production come hell or high water.

On that basis, it's hard to be rational about the future price trajectory for lithium prices. You mentally cling to the recent boom prices, see these as the norm and dismiss current pricing as a temporary blip.

It's a large elephant in large elephant country, it's his pot of gold, his crowning glory, his lifetime achievement.

If this really is his mindset, then no takeover offer can ever be large enough.

Why would you encourage a potential bidder to go back and sharpen their pencil, if you have no intention of selling.

I think a 35 or 40 cent bid for the company (not just the assets) would have a lot of retail investors ready to cut and run, and write it off to experience, unfortunately I don't think JP would give it a second glance.

Let's see what the offtake / CR announcement brings.

It will certainly still have JP at the helm, and that in itself may make it superior to any Renault offer.