Joe Lowry in the money of mine show tonight described the merger as a 1 + 1 = 1.75 deal. (from the 44:00 minute mark of the youtube clip linked below).
I'm a bit conflicted as Low Blow Joe has always had a set against Orocobre / Allkem. For instance he repeated in tonight's show that he considers Mt Cattlyn as the second from bottom hardrock operation in WA. How many hardrock operations are there in WA, Joe? Mt C may well be both the second worst and among a handful of the best WA hardrock projects currently operators. And Mt Cattlyn has been a absolute cash cow for Allkem so once again, a bit unfair.
A point Joe makes is that seeing that both Livent and Allkem have been very slow in delivering progress he fully expects growth by Arcadium to be "glacial". But the point is that it is only Allkem that has the active pipeline of projects while Livent under Pall Graves has delivered nothing in years past and does not have an active pipeline of projects.
Should the merger get voted down on 19 December no doubt there will need to be a broom put through Allkem's management (and d.head Coleman would also have to fall on his sword). Martin MD has totally stuffed up the permitting process at James Bay, Sal de Vida is way behind schedule and Allkem has totally missed the boat in WA. Martin looks very tired, he delivered on Advantage and on Galaxy but in my view it is time he moves out. With a new team of mining and chemical executives (in contrast to a wanker banker parasite) running the show Allkem has oodles of potential.
https://www.you tube.com/watch?v=MD4fsYNkxmY (remove the space between "you" and "tube")
AKE Price at posting:
$9.16 Sentiment: Hold Disclosure: Held
