Proportional take-over can be interpreted in many ways, but an off market transfer of 2% could well fall into that category, especially considering that investor now holds 7% and is still buying, just over 5% on market to date.
I do wonder if there is a complex strategy at play, including the ever delayed off-take agreements. Maybe the plan is to keep the bulk of our reserves for domestic use, attract major investment for glass plants and do it locally. We have already given China the cold shoulder it would seem. Delphi could be our secret business partner and play a major part in this strategy. Our Tier 1 Japanese and Korean companies are still top of the list but is it possible they are being encouraged to invest in WA, alleviating the need to ship the bulk of raw material for them to process back home?
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