Codelco offering $1.22/share for buyout, page-167

I agree. If we were dealing with private offer in healthy legal environment, that would be the case. Unfortunately calculations are secondary now. What if CODELCO will say here is 50c per share, take it or else?

Rejection = minimum no development until or if Chile will become investors' friendly again (2 years? 5?), at max - face a soft nationalization (book value as one of official mentioned). Of course book value is BS, but it is good enough for populist "explaining" to people that "lithium is belong to working people of Chile" (cut and paste rethoric of Mexican president) and that LPI spent only 60M for the deposit development, while we are giving them 120M; these greedy capitalists still whining!
My "crystal ball" said that CODELCO offered 50c AUD and management is trying to bring it to 60C USD.

Do not take me wrong, I hope you are right.
I was wrong with NeoLithium predicting 30% lower price than we got, helped me to limit my disappointment.