The only benefit of the merge is for LIT and LIT holders. The bid is well below market value and with the added dilution of partly paid shares make it a nonsense offer for LPD holders. The participation rate post bid (<1%) confirm this unfair and inadequate offer.
One company owning the technologies? Customers? Suppliers? I dont think this business methodology will work. That is why LPD is going into production under its own steam. But the other thing is, they are not competitors, for at least two reasons.
1. Sileach is focussed on recovery of Lithium from Spodumene.
2. Lmax is focussed on recovery of lithium from Micas
However, there is already an existing process for spodumene, it is established and is the way because it is the most economical method. The recent results from Sileach piloting confirmed this.
Conversely, Lmax looks at a forgotten resource and could potentially be a game changer.
Who started the fight, well thats one for the history books but by LITs own admission, Sileach and Lmax are exchangeable from a demonstration plant perspective, so no wonder questions were asked. However, it was LIT who took LPD to court... Still LIT refuse to answer pertinent questions as to what Sileach is.
LIT Price at posting:
13.0¢ Sentiment: Hold Disclosure: Not Held
