Can't help but think that everyone who is talking about M&A has...

Can't help but think that everyone who is talking about M&A has lost the plot.

While the management team has successfully brought the project online (no doubt about that), it's a highly questionable decision to retrade with a new project instead of returning funds to shareholders. To put it bluntly, this strategy is the same as playing with fire while already doused in gasoline (cue the beginning Derek Zoolander gasoline fight scene).

It's challenging to see a scenario where the company could achieve a higher valuation through a new venture than the value and certainty (incl. timing) of a direct shareholder payout. In fact, a significant sell-off is likely, leading to a substantial drop in share price that could take years to recover.

Moreover, the public sentiment surrounding Simon and his handling of the trading halt, suspension, and potential delisting has significantly eroded investor confidence.

Lets not forget that shareholders invested in Leo Lithium primarily due to the Goulamina project. Given that project is no longer the focus and considering the lack of trust shareholders have, the company should only be prioritizing returning capital rather than using this as an investment vehicle to fund another project.




For those who believe M&A is the right path forward, I'd love to hear the reasoning and see any data or facts that support that argument.