RE:RE:It's all about hype and timing , not Lithium !Actually POSCO will be a buyer , of lithium resources and of liyhium itself , thru it's subsidiary Chemtech , who will be building the actual batteries. (see below).
They have stated their objective to secure lithium resources and produce their own batteries as well as become a major player in lithium sales.
Magna has a take.off agreement for up to 30% of the lithium produced , in exchange for certain financing , if POSCO buys LAC (which they will) , they will have to honor the agreement.
So we have two buyers and two backers , both with deep pockets , and the Third lagest proven Lithium brine on the planet , not to mention one of the richest , and the full support of the Argentine government , and a brand new proprietary extraction process that beats the heck out of the old evaporation process in both time for production and percentage of recovery.
I don't think our current managment has either the desire , the funds , or the management skills to run an actual lithium mining company , so it only makes sense for them to sell to POSCO , who has already stated , it is their intention to secure lithium resources , and become a producer.
There's always a bug in the system somwhere , and something can always go wrong , but it seems to me , everything has finally fallen into place for poor old LAC.
We will have some mill production results soon , and I would bet in the meantime , they will keep share price down so they cann issue themselves millions of options at incredibly low prices before selling , then start dumping when POSCO announces full production plans.
I think it will be hard for LAC to fail at this point.
If xo42 did actually sell out , I feel he made a big mistake , but I can't blame him , this has been the most frustrating investment ever , but it's time has come.
Over the past few years, POSCO, a world leader in steel manufacturing, has been aggressively positioning itself as a leader in the secondary batteries industry. In September 2010, POSCOentered the anode material sector with the acquisition of Carbonix through its subsidiary Chemtech; in March 2012, the company established POSCO ESM, a subsidiary that focuses on the cathode materials sector. The following month, POSCO signed a memorandum with LG Chemical (KRX:051910) for the provision of secondary batteries.