RE:RE:Cash for this company?????Yes , about $5.4 million , but that was 5 months ago , and their cash burn is about $300 - $500 thousand per month , so they probably have $3 - 4 million left in the kitty.
Definitely getting down on cash.
The only agreement POSCO currently has with LAC is a cooperation agreement , where they supply the technology and pilot mill in exchange for using LACs resource.
If they decide they want to go into commercial production , they will be negotiating a long term agreement of some sort , or they could just make a buyout offer , either way , POSCO will have to foot the bill as LAC won't get far on their current cash.
They have made no offer as yet.
Geologic and Magna hold less than 39% of total shares , so any offer made by POSCO would have to be approved by the majority of shareholders anyway.
I would think that most big shareholders would want more than 40-50 cents for the worlds third largest brine resource.
But anything is possible when a company is facing bankruptcy , still , there must be some larger entities that would be willing to pay around $155 million , for this resource , or $1 per share , maybe Rockwood or FMC.
That's my hope anyway , but only time will tell , and with their cash dwindling away rapidly , something will have to happen soon.