I'm supprised any holder who wants a shot at seeing this company through this downturn would vote no. It's well beyond the pros and cons of the direction the Company has taken, that was decided months ago for better or worse, so plenty of time for investors to digest and react to that decision. Both JV partners need each others cash to continue operations its a simple as that.
Probably the biggest outstanding issue is whether RCF's nerves will hold, $69m is a lot of cash to be committing in the current environment, only time will tell. There was an agreement but not a binding one untill its voted on IMO.
The combined cash at the completion of the merger, including RCF, was expected to be around $A240m which is a substantial warchest but the time it buys diminishes relative to the price of spodumene unfortunately.
Cheers Whisky
SYA Price at posting:
1.6¢ Sentiment: Hold Disclosure: Not Held
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