RE:JFMExcellent! Thank you Blaggers.
blaggers wrote: Just had a brief but good chat with JFM.
He said that after 60 days they were no where close to getting the agreement they wanted for the company.
Helm did ask for an extension but our management were not comfortable that it would amount to an improved offer and have decided to move on.
Two years ago it was a good offer but as we all know things have changed dramatically in the sector and now it is less attractive.
He said that they are still happy to work with Helm but not as an exclusive partner.
Some people he said might think this a negative day for the company but actually it is a huge positive. I agreed and mentioned that IMO management have always had the shareholders interest front and centre as far as value goes.
Dr Haber was very much involved in the negotions (and we all know how well he did for Rockwood investors).
JF mentioned that Critical was the only Lithium play with a FS and a market cap of under $300M and thought that institutional money from the sale of LIX may well come into CRE now.
Canaccord were dealing with a number of HUGE COMPANIES (his words) that have expressed an interest in Critical and management will be very busy in January in meetings in Vancouver and Asia.
He said it would have been the easy/lazy approach to take the Helm deal today but they are confident of getting something much better without giving up such a large stake in the company.
They have potentially up to 50 different 'targets; worldwide including speciality mining companies that saw CRE as a low risk, low value play.
JF sounded in great form and was looking forward to a short Christmas break with his partner and new born daughter.
If they don't get called away to another engagement we will hopefully catch up for a beer and chat at the Resource Conference in Vancouver in January.
Cheers,
Blaggers.