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I have always assumed the lithium will be sold at something like market price - 10% discount.
Would make sense from a governance perspective. But CEZ will be angling for efficiencies and Czech nationalist tendencies.
Gsdsitgs, I agree with most of your points except......... If European mines get European finance... they will be obliged to buy European lithium. Just think about what the Greens would say about the 'sea miles' from Chile or Oz. They would have a field day.
Dumbpunter is right about the deal rejection possibility (I disagree with his other opinions and claims though), if CEZ dislikes something, they can easily stop basically anything. There is zero change EMH will be able to do some independent, behind the curtain, offtake agreements or separate deals.
Geomet has five directors: https://or.justice.cz/ias/ui/rejstrik-firma.vysledky?subjektId=362777&typ=PLATNY you can easily count how many of them are actually from EMH. It is one (two if you count Cadence). If there is disagreement, this simple arithmetics of 1<4 or 2<3 means CEZ is the big guy and will always have the last word.
Sheesh. You'd try the patience of a saint. My point was that CEZ cannot say 'no Geomet, you cannot sell Li to anyone else but us.' In your own words... if both can block the other, then nothing will happen.
These are such rudimentary points. Do you really think your genius is so great that you've thought of something the EMH and their lawyers haven't thought of? I think you may have to be filtered.
First post......mmmmm. You've quoted the RNs but you've left out some of it. After "market value" the paragraph continued "albeit subject to any applicable regulatory approvals required at such time, including shareholder approval."
oh yes and welcome to LSE too your frst post , lol
The clause you quote relates to construction, not offtake agreements.
VW will partner with CEZ in the building of a gigafactory (so CEZ and VW amount to being the same customer from Geomet's perspective), and either with CEZ, EMH or Geomet for offtake agreements.
Either way, CEZ cannot block offtake agreements with other offtakers in order to retain resource for themselves. Neither can they set their own price.
DP is correct. The RNS of Thursday 05 December, 2019 says “the Geomet Shareholders' Agreement includes certain minority shareholder protections with a number of reserved matters which require the approval of both CEZ and EMH, in the event of a deadlock on completion of the proposed work programme if the parties disagree on a construction decision, CEZ has the right, but not the obligation, to buy EMH's interest in Geomet at market value”. But anyway, it is not critical; the Czech state has a dominant position in Geomet and the means through other Ministries and regulatory agencies to block any downstream development that does not fit its own policy/plans, which seem to be to make batteries in CZ; VW may have some role, but an offtake agreement seems unlikely. The interesting questions are then, where does that leave EMH and how does one value it?
Why would I report you to the FCA for being a grumpy prat?
Go away you charlie.
DP, almost everything you've said in your last diatribe is absolutely and verifiably untrue. Please, in future take the time and effort to at least show some understanding on what's going on here. For someone who is not invested here it's bewildering why you even bother...
Antelope, yeah it's pretty easy. Check posters LSE posting record, check the last few RNS for anything along the lines "SUCCESSFUL EQUITY PLACING" and see who the marketing/broker teams are.
Be careful to avoid accidental accusations, as it's a relatively small world broker/marketing wise. But the amount of times you will notice the same people involved in the finance + a frothing positive posting record around the time of swamping equity onto the market..
It's more of a problem in biotech stocks I find.
Noise, that's very interesting.
There is only one real game in town currently in Europe, cobber, and you've been backing the wrong horses, only using them as trading vehicles. I hope Cornish Lithium comes good.
Yet you did invest in both EMH and BCN...shame you sold them both to soon.
I've played this fun game with AIM message boards, trying to suss out punters with slightly odd and jarring opinions.
It's a highly depressing but successful game, that often drags out the probable intentions of serial AIM message board punters, who appear to post regularly during the 9-5pm hours with rabidly pro/anti opinions on specific stocks.
Who posts on AIM message boards? Often the marketing/social meeeedja darlings, plus the boat load of brokers and their financial partners who tag onto a company and try to sell equity. Also - investors and sheep.
Curiously enough, Mr Punter spends the vast majority of his time on 3 specific AIM miners. I'll just note that, for all three companies he posts in, they all list the same finance broker (same company, same individual).
An accidental correlation I am sure.
Hell you're well named. Bitter and twisted too.
Why don't you write to Keith and ask him? Hmmm?
You might find some of that is poor translation of legal speak. I find it difficult to believe Keith has not covered his back. Things like this is normal in commerce.
DP for someone who comments with such authority I would just like to ask why you sold EMH just before its last run up to £1, then you sold BCN just before the "Possible offer" that has seen the SP steadily climbing, and for the triple you bought SAV just before there heavily discounted placing that has probably lost you at least 30% so far...you hardly have a track record worth following.
err, no DP. It's a lot more nuanced than your 'common sense' is telling you. Our arses are covered.
Good old Dumbpunter.He’s like an itch you can’t scratch.
Ian : God’s fathers country.Only a Lancastrian could come up with that !
DP, If you could have been bothered to attend the AGM that occurred shortly before the buy in by CEZ you would have received a copy of the ‘reserve matters’ that relate to the shareholders agreement between EMH and CEZ. According to that document important decisions involving €5m+ of assets need to be unanimously agreed by the board.
If you've read it then surely you have the link....so post it yourself
Dumbpunter, these statements of yours are pure fabrication. I implore anyone who reads this message board to read through the factual RNS' released by EMH and so they can join us in belittling Dumbpunter for his complete lack of intelligence
Gut instinct is telling a takeover is likely. With the recent decrease in share price and increase in lit/tin prices EMH is getting cheaper by the day, my other mines are up this week.