RE:RE:re PatriotI agree a 75 cent offer will not do it. However, if the road/bridge does not happen soon, FL is out of cash. Remember they have committed to a DFS, costing likely around $7 million. The actual free cash they have is not as high as it looks.
If the road/bridge is further delayed, today management could not raise cash at 75 cents, there is no market for it, and their track record is bad. They changed underwriters from one deal to the next, all are under water, and on the last deal the signature name they had walked away and the issue was underwater fast. All the other Lithium stocks are cheap as well, so there is a big competition for funds. Absent a bridge deal, if PMET offered 20 million shares at 75 cents, management would have to take it. All of this is pure speculation, I hope the bridge happens and the tide turns for FL, but so far that hope has been foolish.
Arcadium is the other interesting name becasue of their cash flow and aggressive deal history. If the industry players see a tangible turnaround in Li prices, it would make sense for more deals like the PMET purchase. That is IF the FL property is as good as advertised.
The FL shares are not tightly held. They were 5 years ago, but management has been diluted, and now own around 18%. Nobody knows where the rest of the shares are.