I’m not suggesting that MinRes would be selling their 20% stake at anything like these levels.
i would expect it to be an off market competitive process managed by one of the Perth Investment Banks (maybe Bells because they are closest to CE).
That original Tabba Tabba asset was sold by the current MinRes chairman (James McClements in his capacity as a fund manager) to Wildcat … and then MinRes bought his 20% stake at 80 cents plus.
That was a bit unusual I thought ….
Leaving that to one side now, a great deal of drilling has occurred and knowledge gained during a period when the lithium price has collapsed. The guy running WildCat (AJ) is considered in very high regard around Perth … so the quality of the work and studies will be first class.
my gut feeling, taking all that into consideration is that bidding would ‘start’ at 55/60 cents for the 20% stake in this environment
WC8 Price at posting:
37.5¢ Sentiment: Buy Disclosure: Held
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