LRS General Discussion, page-18928

Correct, we are now tied to PLS SP until the deal is done and we are PLS owners or another bidder steps in with a better offer - which can't be difficult at this stage given the measly valuation on the PLS offer.

I'm surprised a manufacturer such as $93bn valued BYD haven't stepped in with an offer to purchase given the substantial, quantified amount of high grade Lithium (that is subject to increase) in a low cost production region and a region they are selling very well in:

https://www.globalfleet.com/en/manufacturers/latin-america/features/byd-secure-lithium-ev-production?t%5B0%5D=EVs&t%5B1%5D=Lithium&t%5B2%5D=Car%20Manufacturers&curl=1

A 30c offer would value us around $840m I believe. With 100mt of Lithium - assuming we get there and I am/was confident we would - paying the cost to build the plant on top, they would still be quids in, in a positive sentiment Lithium market which should come.

40c would value us around $1.12bn.

That said PLS aren't offering us 20c they are offering 0.07 conversion. If PLS goes up our offer "value" on the conversion goes up. The problem for me with tracking PLS share price is any general increase in Lithium market sentiment will not see us obtain that exponential growth seen in the past.

A cash buyout offer in my opinion is better for us, it means we can ask an independent premium that is not tied to another SP, meaning we end up seeing potential fairer value as shareholders. But an offer has to come forward.