I think Player 1 (Huayou) and Player 2 (CATL), was intended to form a JV, but then decided to go by own, as indicated by ML.
HuaYou currently has 10.5% shares with 186m options (10c strike price), fully diluted 16.5% if exercised today.
CATL, is likely to put some real money into AVZ first, in my view, at what price? 25-28c?
then waiting for drilling and JORC to come, if prove over billion tons of lithium and tin, they would be fighting for the full ownership, I guess. Other players, only with deep pocket like CMOC, would be able to join the 'party', imo.
All speculation, DYOR.
Enjoy the weekend!
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