That's the reason why I posted before that in worst scenario, the one good alternative for all would be a GXY (with Jiangxi help ) takeover of A40 at price which could satisfied other large 20 shareholders.
The sad thing is that price we were talking about few months ago is not going be as we were hoping for due to current sentiment, A40 production costs and amount of funds required to pay out Tribeca etc.
GXY can put other 2 projects on hold, get into JV with Chinese and keep BH going at current or slower pace to keep JV happy until better times.
Jiangxi on the other hand will have cashed up partner who can operate BH mine.
IMO, they knew that Burwill is not going survive for long and were happy to pay $0.20c to ensure no one else will take such large stake in A40 and this could also be the reason why they flagged recently their downstream ambitions.
Any small indication by South Americans on increase of royalties/taxes on lithium or future cutting down on use of water could force Big 4 to secure hard rock Australian mines and create lithium revival in short time as we seen recently with IO after disaster in South America mine.
The reality is that if we survive Tribeca, GXY is not going to wait and allow MC to run their investment into another disaster and I would not be surprised if talks with other large holders are not under way already to build TO support.
They have good point - support us or take risk with MC and his BOD.
So far our BOD did not prove much with their ability of running successful business and smart funds management.
My money are on "not if but when" and what price.
A40 Price at posting:
8.2¢ Sentiment: None Disclosure: Held
