Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Treasures - I can't see anyone that is wanting to potentially acquire doing so without access to the data room meaning they must have at least registered interest. In all probability a bid deadline will have been set (I'd argue that this is material enough to need its own RNS but apparently not) and after that the board will down select to negotiate with a smaller number of bidders. It could be at that point one of the bidders that doesn't make the down selection may go off reservation and start playing games, but I wouldn't say its likely as they will have had to have misjudged their offer badly to have been excluded in the first place.
So basically, I expect a fairly civilised close out of the deal with a winning offer backed by the board (aka major investors) and put to vote. Disruption of that process is possible, but I'd argue not likely.
As always, great posts BBN and picked peck. Do you think there is a chance that OXY are currently not part of the process so in 2 weeks or whenever we get the offer if there is one, at a premium to the m & p. So let's say that is 25p. Then OXY come in and offer more as they are not part of the current process. Therefore any company not part of the process can still come in and offer more. Or am I way off the mark. From how I eat this the participants within the process are somewhat at a disadvantage ? I think there is an opinion that the likes of OXY, Geo, GTE etc are all already on board but maybe they are not yet and just waiting for this bit to play out. And it's for that reason in the RNS it said something like don't sell until the process complete or something and that was the give away.
I think you’re right, Mr Big Bite. It’s just a rather unusual situation (for me at least).
Oh to be a fly on a Bogotá hotel room wall (actually, that sounds weird...)
@cautionyourblast The SP is sitting at 1.5p higher than the only takeover the market is currently aware of. That indicates that the market believes the company is going to be sold.
Personally, I do not see any reason to believe that the company will not be sold. As much as the directors and shareholders will want to gain as great a return as possible, the launch of the process by this particular BOD, signals strongly that they feel the end of the road has come, and it is merely about the price.
Also, I see very little in the actions of the BOD since the strategic announcement, that says this BOD is fighting for its business, fighting to maximise progress, and is anything but fully focused on the deal to sell the business.
Whatever price it ends up at, I would think the market will react to the words and offers, as they come, and nothing much more. However, as I say, the market is right now pricing in a premium and so expects a sale.
Agree all, N2M
The downside potential for s/p in a no sale scenario is significant and that’s what keeps it from rallying more ahead of any big announcement , I expect .. that said I’m disappointed this isn’t over 20 p now as punt on meaningful news soon money should be in the house now.. or at least coming in in next week or so, hopefully ..
This is the strangest share I've ever invested in. If we are right and a sale takes place before year end anywhere near fair value, then this is effectively the easiest money that can ever be made (assuming one invested today).
If we're wrong, then we're all delusional. And me in particular as this is my biggest holding.
I suppose there's a third option. No sale. If that comes about, then I expect flying furniture at the next AGM and, of course, a new board in advance (with the possible exception of Dr John).