I feel bad for the ESS shareholders, they had a "missed takeover" attempt at 0.70cts and now they get sold at 0.50 cts, a few months later, at a 35% premium from current share price.
This takeover would definitely leave a sour taste, getting bought at the bottom, when your SP was over 0.50 cts two months ago. Management can spin it how they want, it doesn't look like a great deal for shareholders if it does go ahead at 0.50cts.
IMO, this is the start of the M&A in the lithium sector and would expect many more happening in the next couple of years on Australian soil. I would be surprised if all the advanced exploring companies/new producers go to production as they are. I would expect all the ESS, GL1, CXO and even LTR to be scooped up in the next couple of years, the longer the big miners wait, the bigger the premium will be but I can't see the like of BHP, RIO, FMG and to a small measure MIN as they already have lithium exposure to not surf the lithium wave in Australia. IGO is making the first move with ESS, I would expect some big deals to happen before 2025.
The ESS deal makes me nervous though for my GLN investment and clearly shows that a takeover attempt could be around the corner. Not sure a lot of retail shareholders would be happy with a 35% premium from our current SP. That would be around $1.50..
Our situation is a bit different to ESS IMO, we are closer to production and with a board that seems to be really keen to take at least one of our projects to production whereas ESS board always seemed keen to sell pre-production.
See how everything unfolds but I think we can expect some big money to be thrown at the lithium sector this year.
- Forums
- ASX - By Stock
- GLN
- General Discussion Banter GLN
General Discussion Banter GLN, page-10497
-
- There are more pages in this discussion • 5,292 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add GLN (ASX) to my watchlist
|
|||||
Last
14.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $73.46M |
Open | High | Low | Value | Volume |
15.0¢ | 15.0¢ | 14.0¢ | $180.8K | 1.249M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
9 | 259643 | 14.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
14.5¢ | 278413 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
9 | 259643 | 0.140 |
12 | 515066 | 0.135 |
16 | 612080 | 0.130 |
12 | 578003 | 0.125 |
13 | 1437132 | 0.120 |
Price($) | Vol. | No. |
---|---|---|
0.145 | 9154 | 2 |
0.150 | 851570 | 5 |
0.155 | 190000 | 5 |
0.160 | 795000 | 8 |
0.165 | 160000 | 2 |
Last trade - 16.10pm 26/08/2024 (20 minute delay) ? |
Featured News
GLN (ASX) Chart |