hi @Dee12345 - thanks for your message, always good to have insight into previous management decisions, especially those that may perhaps be questionable. I myself have been invested in some stocks with ceo’s that I would never come close to again.
in saying the above, and having been invested in lithium since 2018 myself, i think when you look at the trajectory of lithium prices since the sale in 2021 and the fact that you were going to have $125M in debt, if I understood your letter correctly, one could argue that Bacanora would currently be operating at a loss, in care & maintenance (with a pile of debt to service) or broke - with no respite on the horizon until maybe late 2026-2027… so maybe you dodged a bullet? Maybe Peter, the board and importantly Ganfeng, could see the writing on the wall and that was the best (and only?) possible option on the table.
in any case, we appreciate your input. And would like to take this opportunity to invite the Think BIG group to consider CAY as an opportunity to make the 1-300% ROI from here, which you feel you missed out with bacanora!
lastly, i’d note that our largest shareholder eea, is here to get a large return on their investment. So i don’t think they would let Peter sell the farm for peanuts.
cheers!
CAY Price at posting:
23.0¢ Sentiment: Buy Disclosure: Held
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