ASX Today, page-32523

Thanks for your post @anatol

JL mentioned there’s only one greenbushes as he took swipe at other producers mediocre grades. Mt marion 4% and others sub sc6. Fortunately even at lower grades they still make money
We’ve discussed at length the current producers grades and profitability. We may not know much as Joe L but what he said only shed light on our commentary on hc - for example we knew and highlighted albemarle has very low margin Compared to pls and AKE, we said theee must be something wrong in albemarle’s business, and Joe Lowry said why, they have crappy contracts. That means they failed to capitalise on the the opportunity. A bad contract imo is also the reason PLS’s realised prices were about $1k less than AKE.
Even though I agree with most you mentioned, whether they’d like it or not js another question but PLS for me is the most viable player to take out Ltr as I’ve mentioned yesterday - they’ve got financial muscle, mining experience they can leverage (it seems they’re better than MIN with 4% at mt marion and Wodgina su sc6), and expand more quickly They instantly become another level of behemoth with potential synergies too as they pursue midstream ambitions and a market penetration outside China. They don’t even have to incur debt to acquire Ltr with some cash and mainly scrip bid.
even though pls already has a large resource, the quality is not as good as Ltr. And the KV WOF operation will give them wider expertise.
Most directors tim had were in retirement mode, even Craig Williams wanted to retire - following the departure of DR, AC, and SC. I won’t say more but these had implications to what have been the future of the company apart from selling it pre-production

it’s my first time to experience this being taken over very close to production. It will be fascinating to see how it unfolds- as the deal progresses to completion is when Ltr goes thru completing the funding, commissioning, and ramp up- who will take all these risks? It’s hard to take it off Ltr as a takeover will take time- how will the risks be calculated or managed in this time of changing ownership- unless the bidder executes another contract pre-closing and to takeover the operation- similar to a realestate buyer who negotiates to take the keys of a property before settlement date.

Due to fast moving parts, usually a home builder can sell and has to deliver a home turn key.

if the bidder doesn’t take over the matter, TG cannot escape the risks involve to execute the project and commissioning but someone else will get all the spoils of the hard work done.

hence a higher price is in order here



all imo