As I read many posts from those raising the issues about the role of the independent expert, it draws me back to my experience with ESS, where I held shares expecting Mineral Resources to mount its own takeover. It didn’t happen. Furthermore the independent expert’s report included a calculation of the potential value of a mining project of their lithium deposit. The report relied upon a recent scoping study the company had prepared that included very weak Spod pricing assumptions. In any event the range of valuations that arose delivered a mid range demonstrating the offer was “fair and reasonable”. I was peeved because I did not think it reflected a balanced view of the lithium supply/demand outlook over life of mine. No matter, I profited and actually the scheme failed miserably in the vote….68.5% of shares voted were “No” votes while only 31.5% of shares voted were “Yes” votes.
Where am I going here? I do not want to leave my future interest in our company in the hands of the independent expert or Gina Rinehart! We can never be sure how things will pan out and I am determined that as shareholders we can have a grass-roots driven revolt against this deal…and win!
I contemplated calling the company and asking Tim Goyder direct, whether he is hoping this deal is rejected by shareholders. Realistically, he is not going to share his thoughts with me, but I feel I know enough about his character and the sentiments of the management to say with confidence that despite the written words, they want to remain independent and for this scheme to fail.
We need to think positively about the situation and not “wring our hands” feeling disempowered. We HAVE the power to defeat this no matter what the board recommends, or the independent expert reports, or indeed the short sellers and market makers do. We retail holders control around 50% of the shares and if we vote in concert, it will be soundly defeated and we go mining!
Enough speculation of motives of BoD and Hancock Prospecting! What really matters in the final analysis is that we all actually vote “No” to this Scheme when it comes down to it. I know many of us already know all this but we should be galvanising support for Liontown Independence from takeover by ALB. I won’t address the other elephant in the room right now unless Hancock Prospecting looks like changing its mind from the words published in its announcement
…………“Hancock can contribute to Liontown’s future direction alongside other Liontown shareholders, including in relation to potential investment opportunities for downstream value add in West Australia.”…..
Let’s all start talking about voting “NO” to this scheme so we can all move forward to a prosperous 2024 and beyond!
All in my own opinion and reflecting my own investment strategy.
Regards
DF
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