ASX Today, page-32469

I do not understand the desire to keep using the "sold" word. Clearly there is a possibility of all shares being taken out if there is a successful scheme etc, but right now that looks quite unlikely. There are numerous permutations of outcomes that would not involve a total sale.

What looks far more likely at the moment is for a party (looks like Hancock Prospecting) to take a significant stake in LTR. Whether it is friendly to the existing board is not clear, but no doubt they have their own interests in mind. Those interests could align with those of LTHs as taking this through to mining without major disruptions and change of control does not seem to benefit anyone. As @vmp said, there's a real danger of reducing site personnel morale and that is vital to us meeting our targets. The board knows this.

I don't have any conspiracy theories here, but the BoD appears so far to have achieved a great outcome for LTHs by rebuffing the earlier approaches without disclosure, and then revealing the $2.50 one at an opportune moment when shorters were exposed. As mentioned by @Philley , LTR knows who is on the register and TG and TO have likely had any number of conversations with the likes of Gina Rinehart...for goodness sake they have talked to quite a few of the holders on here, so they'll be talking to all large holders.

There is surely going to be some commonality of interests from a suitor because they would want us to get to ramp up as soon and as trouble free as possible. If Ms Rinehart and TG/TO could reach an agreement on the medium term aim, they will see off current predators and we get on with the delivery of the project. Ms Rinehart sits comfortably on her stake knowing she has the capacity to block any scheme of arrangement and is in the box seat to move to control when risk is less. The takeover provisions protect LTHs somewhat because if she passes 20% there will have to be an offer to all shareholders. TG's stake then becomes vital. In the meantime we could well reach a much higher price in production.

Keep watching the moves, but there's logic in it playing out without a full sale right now. If there is going to be a full sale, my view is that the price will be appreciably higher than it is currently.

regards
DF