C'mon Franky you're a smart guy, the reason is opportunity cost.
James also said in one of the SH meetings "If your deposit is worth $10 (stressed this was an arbitrary figure not price per share) and someone came along with an offer for $8, it may be better to take the money now then wait "
I put myself in an EV / battery manufacturers shoes. With the impending supply shortage, would I bid top dollar to secure my business model for the next 20-30 years. Yes I would and I think my shareholders would expect me to as well..... Looking at the available deposits, there aren't that many left to choose from
Agree the figure has to be right though.
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