The regulatory bodies including FIRB should probably take a look at the Chinese significant control (can argue indirect takeover if one consider Chinese corporations debt and equity holdings of Talison) of Talison's Greenbushes asset and now Galaxy, which are two of the largest hardrock lithium assets in the world.
It is well-known that Greenbushes's supply and pricing strategy has a great deal of influence in world's hardrock lithium, which is critical in the production of auto grade battery. By exercising significant control over Greenbushes' asset, China has ensured that hard-rock lithium price stability.
Directors' (including Iggy Tan's) actions in the last 12 months, including over aggressive acquisitions/merger irrespective of Galaxy's relatively weak capitalization and short term debt financing positions should be questioned in court to investigate whether there is any breach of their fiduciary duties.
Hope there are someone here who can take these issues to the attention of ASIC and FIRB
GXY Price at posting:
7.8¢ Sentiment: None Disclosure: Not Held
