RE: No Surprises15 May 2024 15:24
Phase three is almost done. Read from today RNS:
Phase 3 of the convocatoria process will include confirmation of the Clontarf/NEXT-ChemX JV partnership's financial capacity, which include a review of the last 5-years' accounts, and a risk-rating. As a reminder to Shareholders, Clontarf has worked closely with its JV technology partner NEXT-ChemX since 2022.
At the suggestion of the European Commission, Clontarf has now broadened its "Team Europe" partnership to include financing and offtake partners representing key OEM manufacturers in the German Mittelstand. Endorsement from one of the world's leading groups of high tech, battery-quality Lithium offtakers is heartening.
The Company further acknowledges the European Commission's leadership and strong support for the European companies involved, including initiating high-level negotiations over infrastructure financing, and issuing a Letter of Comfort for the qualified European companies, which may prove critical in overcoming any remaining financial challenges. Clean, Green Lithium from brines may be classified as a strategic project under the EU's Critical Resource Minerals Act.