RE:RE:Here is Gangfeng Lithium/Millenium Lithium News Hi neo,
I agree with you that ML's management look after themselves first, and small investors are screwed.
My opinion, they should sell ML, minimum $4.00/share at the recent equity raise price, resonable price should be $4.50/share, and best price $5.00/share, ML reached $5.00 last February.
The lithium BULL market is just starting, why you sell yourself short when you have $50millions cash?
I had 170K, and sold them all, and will put into different names. Bought more NLC last week, and I was already too heavy on NLC.
tiger
neosceptic wrote: Somehow I missed this news, which can have big impact on NLC. Number of independent Li developers of mid to large size is now very limited.
Although, NLC already surpassed ML in size and stage of development, the projects were still comparable.
353M offer for ML is border line robbery, in my opinion. I would understand if the offer was made a year ago...ML have about 40-50M cash on hand. Means project was priced just over 300M in time when tide has turned and Li boom is nearly a consensus.
I think management just want to cash their stock options and retire, investors, especially recent ones who placed tens of millions at $4/share got screwed.
They should cash it an invest in NLC and LAC if they think that Li still has bright future.