Go and have a read of the AGY threads to bush up on your lithium market history. Their MD made a point of repeating that they would only accept the "best deal" that recognises the "real" value of the project. Six years later, there's still no deal, and share holders are still waiting after a 97% collapse in their SP.
There is no such thing as "industrial value". The value is what someone is willing to pay, in the timeframe we need to make a deal, which is only a matter of months away. We are one of multiple lithium development projects that are chasing an investor, so we have a weak bargaining position. The potential strategic investor isn't going to only explore one project option, they will be reviewing multiple potential sources, at a time when an extreme buyers market exists. Just like we've been speaking to multiple potential investors, they're investigating multiple potential investments. Therefore there's absolutely no incentive for them to make a generous offer, but CE absolutely has an incentive to accept a shifty offer.
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