GL1 Megathread, page-1152

I'm a huge fan of a takeover bid but under the right conditions!
Firstly, the resource needs to be drilled out to put a true value on the projects. Both projects are still lightly explored and there is significant upside over the coming 12 months. The Board of Directors would be the laughing stock of the ASX for many years to come if they handed over half drilled projects only for the buyer to triple the resource in a couple of years. We have $70M in the bank to aggressively explore and complete our studies, this is how true value is created, not by selling assets while the lithium market is taking a breather. per LTR - The Board noted the opportunistic timing of the indicative proposal, coinciding with recent softness in companies exposed to the lithium sector.
I don't see an offer of $2.50+ as a premium at all, this was on the table only a few months ago. Would we feel the same way if in December 23 our headline number is 80MT. What risk to holders is there with our cash backing and recently discovered extensions to substantially increase our resource. Lithium demand certainly isn't going to disappear, and I would argue that as the lithium price becomes more stable and stocks regain fair value, we could potentially attract a bid for double that figure (a fraction of the LTR rejected offer).
As the lithium market tightens and more explorers than I can count come up empty handed after finding glamorous rock chips, car and battery manufactures become more desperate to secure supply. It is now agreed industry wide that capital prepay and direct loans come hand in hand with off-take. This is the reason I think GL1 will be able to secure at least 50%+ of undiluted capital for capex. imo I think dilution is greatly exaggerated in our case.
I'm looking forward to the interim resource update for Manna over the coming weeks. Good luck all.