re market capI highly doubt an offer would need to be any where near $2. An offer at $1.30 would be damn tempting today,
especially if you want to stay in the sector. You can buy other assets closer to or in production a lot cheaper than they were a few months ago. The majority shareholders own a lot less than they did 5 years ago, dilution has happened and we are not close to production yet.
I would not expect all those loyal insiders to hold very long if an offer came through, cash is damn tempting, and there has been a spectacular failure of progress here.
Most of the board members are retired, there is no prospect of a dividend for well past 5 years.
So many shares have traded over the last 3 years that i doubt management knows who the shareholders now are, they make no effort to do any serious communication, so they have no idea who their ownership group really is. On any strength there is a wall of shares for sale, it has been that way for over a year.
If the road/bridge gets announced, the price will move up, and take a small amount of risk off the table, but this company needs cash this year, and that means dilution.
They have no cash, no drilling, no permits, no bridge, no road and no loyal shareholder group left. And worst of all, I am not sure they realize the mess they are in. With the current price of lithium, the ore body is worth far less than it was. The reality is any bidder has a choice of many companies depressed like FL, and they can be greedy and choosy. The offer would be a disappointment to some, but any smart player is going to bid low and see what happens.
Best of luck