I must admit I'm starting to become intrigued (as opposed to worried) as to the delay, and also why there has been no update.
Alistair said 5 weeks ago at Paydirt:
“we have just, hopefully, in the last few days, finished the complete corporate restructure to enable the demerger of our lithium asset….”
I was told there were other things that could only be done after that restructure, to complete the JV, thus enable the demerger. I assume that would include things such as the transfer of the $91m etc. I would also have thought a bit over 5 weeks would be ample time to complete those items.
I said intrigued, because I'm starting to think maybe something has happened that requires inclusion in the Prospectus. I'm just guessing here, the sort of thing I'm talking about is maybe just building stage 2 straight up. Could be a myriad of possibilities, however any change to the current plans would probably require inclusion in the Prospectus, possibly changing the finance requirements, legal opinions etc etc.
A lot has happened in the Lithium Industry since the initial Ganfeng involvement, and a lot since the updated DFS. Demand for EV's has skyrocketed - big waiting times to take delivery of a Tesla.
I'm not saying it's probable the delay is due to something like the above, just that it's a possibility. IMO it's unlike the company to not put an update out, especially for someone like Simon who probably wants to get off to a good start with shareholders.
There has been very controlled accumulation over the last couple of weeks. They don't seem to be in a big hurry and always ensure we close a few cents off our high. We've gone from 61c on Feb 24, to the present 84c as I type. On the same date AVZ was 70.5c, presently 85c. So we've outperformed our peers over the last couple of weeks, admittedly off a low base.
