Next Move, page-3

Yeah well said R08, fundamentally we've ticked every box thus far, that I was hoping for. That PFS is worth re reading if anyone is doubting their position.

Possibly with the exception of EMH, I would have liked that box ticked, but that's still a works in progress. LITs certainly made it difficult for us on that front. But we haven't had a decision either way, so that deal is not lost yet.

I found an analysis of ASX hostile takeovers, from 2015. That states as fact, that 22 hostile bids were made that year and NONE of them were successful without a recommendation from the board. Closest anyone came to being successful was 37%.
Found some good empirical published papers on the topic. That basically states that since the early 80's, it is very rarely successful. So it's a $450k gamble from LIT, that statistically is a very long shot.

What we are likely to see now is a PR war, of sorts, to win the votes of shareholders. LIT will spruik what a good idea it is. LPD will pick holes in their argument.
We've seen the start of this process with LPD requesting info on Sileach to be made public. Should LIT disclose, our Mettalurgical expertise will tear it to shreads. If they don't disclose, LPD will wage the war on Why, they won't disclose. Noting our board are very likely to know more about Sileach than we do publicly. They'd have some ammo to fire away when the time is right.

A little visit to the takeovers board, wouldn't be out of the question either to enforce disclosure to ensure we are all fully informed participants.

LIT will inevitably increase the bid, to garner support through the perception of a quick pay day for LPD holders. That's if you can sell them off on market, before everyone else, looking for an out.

Statistically, if the board doesn't recommend the Take Over, then it will not happen.

So once this is knocked over, Lemare R2 will be about due, then time to look for additional funding. Which we all knew was coming, it takes money to make money.

When you back companies in their infancy, you're accepting that you'll more than likely be faced with credit raisings along the way. Otherwise, better to stick with blue chips offering low capital growth and a steady dividend.

Essentially we are being bullied about, purely out of principle I won't be taking any of that sheet.