RAG offer to WestOz was scrip only, and to the value of $350,000...

RAG offer to WestOz was scrip only, and to the value of $350,000 (plus some oppies). CZL is acquiring it for $140,000 of hard cash, plus $600,000 in scrip (and if that was calculated on sp of 2.5c, scrip component is already worth $750,000).

I reckon that it wasn't RAG that turned the deal down, but WestOz went for the highest bidder - CZL simply paid more for Lithium than RAG would. RAG announcement states that they and WestOz mutually agreed to terminate what was previously binding agreement. Also RAG previous announcement from 24th January stated that they successfully completed due diligence to their satisfaction. So it looks all good with Lithium tenements, CZL management thought they are worth paying more.

It might be also a case of bad timing for RAM. Their main focus is Nickel project in Sweden, for which they had CR and tenement grant at about the same time they were negotiating Lithium with WestOz. With Nickel prices going crazy, I reckon they made their call to focus solely on that side.