I don’t see any lies …. I see a board which has said provided:...

I don’t see any lies …. I see a board which has said provided:

• the conditional offer becomes unconditional (which means it has to pass DD to ALB satisfaction and ALB don’t change their mind that it is too low an offer or too high an offer after that DD)
• an independent expert concludes the offer is in best interests of shareholders
• the independent experts continues to conclude it is in the best interests of shareholders

then they currently intended to recommend the offer for approval of shareholders.

There are no lies … just very carefully worded confirmation of the position of the board.

I can see the backroom discussions leading us to here:

• ALB - but that’s a fair offer (the one made on the Friday and less than $3)
• LTR - no it’s not, go away and come back when you actually want to acknowledge the ballpark that you can see
• ALB - not fair, we need the spod, you don’t need it yet as you haven’t built down stream yet
• LTR - do you forget that we have the likely cashflow from our offtakes (that you haven’t seen) and our connection with Sumitomo?
• ALB - hmm … ok … how about $3
• LTR - (exasperated sigh released) … you still don’t want to acknowledge the ballpark - but we know you see it, just look at what you said in the media in recent days about the expectations you have for shortfalls in Li supply in the near and medium term future. You know what we have and we know you need it. If serious make a better offer
• ALB - no this is our “best and final”
• LTR - are you sure you want to do that?
• ALB - yes - it will impress our shareholders
• LTR - ok … as you wish … here are our terms
• ALB - hang on, what do you mean “and continues to conclude it’s in the best interests of shareholder”
• LTR - have you not noticed that we are continually ahead of schedule in everything we have announced in this mine production, have you not noticed that we are now less than 12 months from production, have you not noticed that we have some ore (DSO) just sitting waiting for us to use it to check, tune and be sure of the crushing side of the plant so we can use it to get ahead of some of the ramp up issues others have had, have you not noticed that we have underground mining experts in our team and just released contract for that part of the works …. Continuing to conclude means your offer has to stack up as best for our shareholders KNOWING that we are now very close to production … that’s very different to if you’d actually made a proper offer earlier.
• ALB - alright - let’s see …