Maybe, maybe not, 4ktpa for chemphys is not a lot of lithium, not exactly a shortage of the white stuff at present. Chemphys must be playing the long game, and if so expect them to dig some hooks in on stage 2 expansion. Management hasn't exactly been transparent when it comes to offers, to everyone's detriment, if intention was to put burners under chemphys the offer for the assets would have been up in lights.
Re cap raise at a premium in the currently incredibly turbulent market... unlikely and even if it is a small premium it is nothing compared to the resulting dilution if the quantum is as reported. Its 1/3rd of their market cap or close enough. That has to hurt however you slice and dice the deal(s).
I see this as a double edged sword whatever the outcome in the current market. There is no silver bullet unfortunately given the situation management have gotten themselves in.
Fingers and toes crossed for those still holding on.
Aimo
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