PYX Resources: Achieving volume and diversification milestones. Watch the video here.
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"COMPANY
© Luthardt GmbH 2017 | Luthardt GmbH is a family-owned company with its headquarters based in Berlin. Core competence of the Luthardt GmbH – which primarily offer to German manufacturers in the field of energy production and distribution – lies in product assembly and commissioning within large infrastructure projects abroad"
This taken from their own website.
thats is the odd thing about this Announcement, thought we were fully funded I hope we get a explanatory video or some thing .
Having said that things seem to be moving Germany left field point could EU buy 49%?
Curious as to why this is related to emh and not geomet regarding the options….hmmm
Looks to me that dilute for something that CEZ should provide for the project or the very least Geomet pay for.
Looks to me that the cinovec project and that of the EU as a whole is perhaps bigger than even we as shareholders imagined.
It could be a great indication of the positive end incoming for 2022.
German gov support means 'EU support' & funding guaranteed.
Germany must be the dominating force on the EU continent when it comes to Energy so this is hugely positive.
Very good question.
Have I missed something here? Why are the German government involved? Sounds interesting
That German mob gets their options for meeting two goals - getting confirmation this calendar year of official support for Cinovec from German govt and
- getting official support from the German govt by middle of next year of production increase at Cinovec.
I think that’s very positive; clearly they believe they can stitch up such a commitment
https://www.asx.com.au/asxpdf/20221028/pdf/45gyng96m00x8f.pdf
continued . . .
Milestones
The options to be issued to Luthardt Investments are unquoted and are exercisable at AU$0.80 each on or before 30 December 2023, subject to the following vesting criteria:
(a) Tranche 1: on or before 31 December 2022, the Company receiving confirmation in writing in the form of a letter or other official correspondence from the federal government of Germany (or a department acting with delegated authority) or the Saxony regional government of Germany that it will formally support the Cinovec Project and the supply of lithium products from the Cinovec Project into Germany and use its best endeavours to assist the Cinovec Project in permitting and funding, apart from other factors.
(b) Tranche 2: on or before 30 June 2023, the Company receiving confirmation in the form of a letter or other official correspondence from the federal government of Germany (or a department acting with delegated authority) or the Saxony regional government of Germany that it will formally support an increased production plan for the Cinovec Project subject to supply security considerations for European manufacturers of Electric vehicles and batteries.
The options are otherwise on standard terms. The Company does not intend to seek shareholder approval for the options because they will be issued out of the Company's existing placement capacity under ASX Listing Rule 7.1.
ENGAGEMENT OF GERMAN STRATEGIC ENERGY INVESTMENT ADVISER
Executive Chairman Keith Coughlan said:
"I am very pleased to be working with Sven and Ludhardt Investments to advance the Cinovec Project and to bring to pass the vision which we have always had of Cinovec supplying a sizable portion of the Lithium needed to fulfil Europe's lofty ambitions of becoming battery self-sufficient.
"European Metals is well positioned for the rising demand in battery materials, developing the Cinovec project, the largest hard rock lithium project in the EU, which is centrally located on the Cech Republic's border with Germany. The project possesses excellent ESG credentials which will enable the production of battery grade lithium hydroxide and carbonate with potentially one of the lowest CO2 emissions, globally."
RNS out for engagement of German energy advisor, mentioning EU grants etc.
https://twitter.com/RodneyHooper13/status/1575874115361439745/photo/1
I am so fed up with this.
Doesn't seem to be, or at least if it is, it's not being announced in a hurry.
Soooo... unrelated. Thanks for posting?
Hyundai breaks ground on $5.5 bln U.S. EV, battery plant . VW could take a leaf . And Cez
Any inking happening?
Be interesting to see what the quarterly activity report says (due out this week I believe) - will it be supplementary to a separate RNS offering some game changing news or just the same old template driven report. Come on KC this radio silence is hurting!
About the EIB:
The EIB Group has set “ensuring a just transition for all” as one of the four overarching objectives in its Climate Bank Roadmap 2025. The EIB’s ambition is to support €1 trillion of climate action and environmental sustainability investments in the decade to 2030 and align all its new operations with the goals and principles of the Paris Agreement.
Sweden: EIB supports industrial research in new, innovative, clean transport technology in electric vehicles with €500 million loan to AB Volvo , Soon these articles will have Geomet in their headlines .
https://www.eib.org/en/press/all/2022-416-sweden-eib-supports-industrial-research-in-new-innovative-clean-transport-technology-in-electric-vehicles-with-eur500-million-loan-to-ab-volvo?utm_source=twitter&utm_medium=Social&utm_campaign=na&utm_content=na&utm_term=na_na&utm_id=2022-10-26_01_en
I wonder what has happened to the speculation around LG and Samsung being an end user? I assume that it is the EU wanting more of the Mined and refined material to be used by Eu companies and not just a company that has a factory in the EU? Who else is out there that could build EU batteries for VW ? assuming it is VW of course, and CEZ themselves their need for Lithium.
Once EUR breaks the record , we too will have a similar news article , and watch us oblitorate it .
A key offtake memorandum of understanding (MoU) with BMW AG has also put wind into Wolfsberg’s sails, as the automotive powerhouse is considering undertaking one of the largest direct OEM pre-pays in the lithium mining industry to date .
https://www.proactiveinvestors.com/companies/news/996415/european-lithium-s-wolfsberg-project-set-to-be-europe-s-first-fully-licensed-lithium-mine-proposed-nasdaq-listing-through-sizzle-acquisitions-combination-values-project-at-a1-1-billion-996415.html
They must have talked to the man below , LOL
Volkswagen: we have never had supply chain shortages like today .
https://auto.economictimes.indiatimes.com/news/passenger-vehicle/cars/volkswagen-we-have-never-had-supply-chain-shortages-like-today/95084049?utm_source=Mailer&utm_medium=newsletter&utm_campaign=etauto_news_2022-10-26&dt=2022-10-26&em=cmhvbG1lczIwMTBAZ21haWwuY29t
Electric Hummers are selling for more than $100,000 over their list price as demand outstrips supply by almost 100 to one
https://www.businessinsider.in/thelife/news/electric-hummers-are-selling-for-more-than-100000-over-their-list-price-as-demand-outstrips-supply-by-almost-100-to-one/articleshow/95084811.cms
Why this lithium boss stopped taking calls from buyers in a boom
https://www.afr.com/companies/mining/lithium-boss-can-afford-to-put-buyers-on-hold-20221025-p5bsnj
https://twitter.com/i/status/1584495930790641665