"Why anyone would sell this side of new analyst reports and this side of an order for costs and expiry of the appeal period is beyond me."
Because I think Martin made a bad deal and he might make another one negotiating details with SQM.
Could I be wrong, could I be failing to understand some nuance - absolutely - I'm all ears to contrary reasoning. I'll read whatever I can find - but an individual investor is not a company. An individual investor has the luxury of choosing between a lot of companies and can get in and out of them on the basis of their own analysis of the company's management decisions.
I perceive lithium supply as being something of a race to market and a race to secure certainty of buyers.
I just don't see either KDR or SQM as being experts in developing hard rock lithium resources in world best time-frames.
In my opinion, had KDR completed an initial feasibility study first, then gone looking to market with that feasibility study they would have shown management prowess.
I won't say I'm certain it was a bad decision not to complete the feasibility study before making a binding letter agreement - but I do think it looks that way. It looks like they lacked confidence to do a feasibility study themselves. Also KDR must be less attractive as a TO target to anyone wanting to beat SQM to market and to take market share away from them. You can't out perform a competitor so well if they have the other half of the resource you want to use to get a competitive edge over them.
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