Why management entertained this company to begin with, is beyond me. Would be interesting to know who the directors are behind the shelf company that was looking to acquire the asset, that now have a 30% interest at the project level after failing to complete their purchase obligations.
On another note, the company is now talking about spinning off all other assets non Chilean related. I think this is a good thing for shareholders, as the market is more likely to ascribe a level of value for these assets beyond the current market cap of $63mil for all assets. It probably would of been of greater value for current shareholders to see the company spend some $ progressing these assets in the meantime, rather than put all their eggs in the Maricunga basket for the last 12 - 18 months.
I wonder if Marty will pop up as the new CEO for the domestic + Argentinian assets...
Ann: Update on Centenario Lithium Project Sale, page-7
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