Galan has received an unsolicited, conditional, non-binding proposal from Zhejiang Huayou Cobalt Co., Ltd and the Renault Group (Bidders) to acquire 100% of the Company’s interests in Hombre Muerto West (HMW) and Candelas for a cash consideration of US $150 million (Indicative Proposal).
So Galan is calling it QUITS?
You ride and Buy and Hold this lithium stock and refused to sell after a 10x bag gain in under 2 years, and now it has retraced all its gains to return to that 15c level and potentially getting taken out now with no prospect of recovery.
M&A at the worst nightmare for a Buy and Hodler hopium
Moral of the story: Take Your Gains while you have them, Holding for Longer Isn't Always Better, not after a meteoric run.
This bid is another indication that the Chinese want to swoop mines in South America way ahead of possible Trump interventions ahead. And in this instance, the Europeans are working with them.
