Ozblue, "Greenbushes was sold off for a pittance to the Chinese...

Ozblue,

"Greenbushes was sold off for a pittance to the Chinese and Americans, because they could see into the future when all that lithium would be needed. They would be basically making every year what they originally paid for the asset, when it really should still be in Australian hands, making money for Australians."

That seems rather simplistic.


I thought that, AFTER its owner Sons of Gwalia stuffed up its gold hedging in 2004 and collapsed, administrators sold off Greenbushes for a pittance to the Americans (Talison) around 2007 (start of the GFC) . It was effectively a fire sale in a depressed environment rather than a takeover, and not too many Australian mining companies would have taken the risk of moving outside their core business at that time. Could the Chinese and Americans really have been that much more far-sighted about lithium demand almost 10 years ago compared with our miners, or did they take advantage of a good exchange rate and other favourable indicators?

I agree that it would have been preferable not have sold off Greenbushes (particularly as I was a shareholder of its owner at the time). I also happen to agree that Australia sells off too much of the farm. It seems that both you and IBB have similar opinions on this.

Why therefore should IBB not have a right to express an essentially independent opinion on the matter, particularly when it just happens to align with yours? Together you should be able to be positive about the future and encourage others to be likewise. Then we can all go mining.

This forum spends way too much time on trivia and sniping and belittling for no good purpose. Any useful information you, brisen, binwood, Wombat2 and so many others provide is buried in 6U!!$&!? almost immediately. All that rubbish for two days, then relative peace and quiet today with a dozen mostly good posts, and now this? It would be great to "see the wood for the trees".

Wittenoomer the peacemaker