A lesson from the very recent past.......that could very well apply to CXO.
Not so long ago a well orchestrated shorting attack was implemented on LTR in an apparent attempt to set up a low-ball takeover offer of LTR. Even though the 'unofficial' takeover offer was approx double the SP at the time (after the short attack) it was still a very opportunistic attempt to take LTR. It still massively undervalued LTR. This 'unofficial offer' was promptly rejected by the board which immediately set a new baseline valuation for LTR ie.approx doubled the SP in one day.
I know LTR is a very different proposition .......but at the time I thought ......... I bet CXO will be the next target !! They can't get LTR for pennies..... they will move on to the next target. Sadly, recent major issues with CXO and its' mine operations have given the shorter's an open door to exploit us. I totally agree with you @Kiwisfly9 ....... and we need to do what the LTR board did, and what all CXO shareholders and BOD should do and reject any attempt for a takeover until the SP reflects a more realistic value. ........Firstly everyone fully understand the wonderful fundamentals that still exist. Understand the nature of the medium to long term lithium supply shortfall and the likely pricing windfall that will inevitably follow. Remember (if you are a LTH) why you invested with CXO in the first place and as difficult as it might be at the moment..... try and keep the faith. I see clear signs that the BOD are moving quickly to remedy the current situation and bring development plans forward.
Currently the Lithium sector is primed for acquisitions and amalgamations as the big players try to sure up their long term supply lines and futures. The current dip in Spod / hydroxide/ carbonate pricing and the current drop on the AUD$ v USD$ is creating easier conditions for this rationalisation of the sector to occur.
Hold tight guys........... It is not easy to get a new Lithium source up and running. The big players are looking at Australia as a preferred place to do business for all the reasons you already know.
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