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Great post Redirons and I completely agree with you.
Comments such as "That has to **** them off" are frankly childish and counterproductive. We want a cooperative JV partner, we don't want to further sour the relationship.
It would be difficult for another major to pay the same price as NCM given they would not have the existing infrastructure in place, so their profit / returns would be lower, hence lower price payable to generate same IRR. NCM would also have to accept a bid for the 70% so not really a relevant point.
Not sure how people can be calling NCM disingenuous, people clearly don’t understand the purpose of financial results. It is people on this board who were saying that the MRE2 would be released at the same time, not NCM. Maybe people stop hanging onto others every words off this board and then expectations won’t run ahead.
This is just a game of patience, the fundamentals are extremely compelling and true value will come.
I don't think it was bad at all. It just reconfirmed that we should expect to hear some news. It was a holding RNS of sorts, otherwise people begin to panic why they haven't heard anything.
My take from it is that the lithium project is progressing just fine. Yes timelines have slipped slightly, but news (and positive news at that) is still due. We are also in an environment where demand and therefore price of lithium is growing, which feeds directly into our bottom line and economics achieved in any potential deal.
Such an over reaction in the share price this morning. Nothing has changed, the fundamentals are still overwhelmingly positive and we continue to await an updated feasibility study which will include a) higher resource price, b) larger resource area, c) more resource included given now economically viable.
We are undervalued based on the previous FS, let alone once the revised report is released.