Assore bid15 Nov 2023 10:28
Assore has submitted a lowball offer of 33p... The Atlantic Lithium Board have a duty to relay to shareholders any such offer, especially from a major shareholder (25.4% holding).
In my view, Atlantic were correct to reject the offer(s), Assore are no doubt taking advantage of a weak Atlantic Lithium share price which, in no way, reflects the true value of the Company.
There is so much potential here, it is unbelievable. With our plentiful lithium resource and low opex, lithium prices expected to rebound, plus being 12/18 months away from generating income, it would be foolish to accept such a derisory offer.
I hope that Piedmont come out and support Atlantic's decision. I wouldn't want to see them team up with Assore with their 9.34% holding to try and get Atlantic on the cheap.
Two and a half years ago I invested here in a long term holding (5 years) off the back of a). Vincent Mascolo's vision and b). a geologist I knew who'd been involved in Ghana, who advised that he'd never seen so much easily accessible lithium.
I for one, would rather see us get to production before considering any offers.
Whether or not we could survive a hostile bid is another matter.