re PatriotMy post about PMET and FL was the wildest of guesswork, a hunch at best, and I do not own shares of FL expecting PmET to actually buy this. I am guessing they would rather acquire capacity closer to their current properties, however the claims they just bought are interesting. Can anyone confirm IF those claims are on the road that FL needs to get into production?
It is fun to dream, and the chessboard is interesting. Given the poor performance of FL (and, to be fair, most other Lithium juniors), the shareholder base here is not what it was. Anyone with investment discipline has exited this story. A poor chart, no cash, and late on deliverables will always do that. I suspect management has less "friends" than they think. We know there are no institutions behind this, so any offer that is made will cater to the real shareholder base here. mostly retail.
What price would it take? Likely far less than we all dream. Because FL was at $3.50 has no bearing on it. Often the route is quiet acquisition of up to 9% of the shares, followed by a declaration of ownership. That does not seem likely here, as there has been no strong bids.
Given the FL lack of IR , another route might be an treasury offer taken up by PMET only. FL must raise cash. and they have not been good at that. PMET could offer 20 million shares at .75 as a bought deal, get the 9.9% they want, and the cash goes to treasury to move the deposit along. They get a board seat or 2, learn more about the deposit, and decide later if they want to get more involved.
Industry players tend to be more cautious and deliberate than retail investors. They know the business risks better than we do. There is still a big risk in this company, or the shares would be higher. I often wonder what we do not know here, why has it taken years longer than management expected? PMET would know that answer. It is still fun to hope.
Best of luck.