Member Info for CRK22

Hi ant,

I take and accept your point however I suspect that its not unheard of for political pressure to influence direction of travel. That does not mean a project doesn't happen, it just means the financials may be less than what might have happened. My point is that even if it were to happen to encourage CR job creation downstream, we will still have a customer and a project with a high value. I'm entirely comfortable with the outcome of that possibility and still much prefer it to an early buy out scenario.

That's all.

Am fully positioned here to the level I am comfortable with and am holding for LT although might be tempted to adjust capital at risk along the way.

Actually antelope a buyout before capacity expansion would be based on a % valuation of the project NPV which would be an awful undervaluation of where this investment would go.

The concern Iain has raised is more to do with enforced low pricing or uncompetetive award to downstream hydroxide consumers in order to give downstream producers within CR an advantage and hence unfairly create jobs there.

Its not massively concerning although it is a possibility worth considering. I for one am glad the question was aksed and would not dismiss it out of hand.

I'm far less concerned about that than getting bought out vs current project NPV which you seem wholly unconcerned about.

I guess we each have our concerns which we must address within ourselves and size our positions accordingly.

Iain that will become apparent on OTA - I share the concern that you raise however I think the initial project tonnage which may go on beneficial terms (and by that I mean a poor floor to ceiling price vs spot hydroxide price) is mitigated by the ability to increase capacity (one the difficult task of technical tier 1 grade qualification is obtained) by switching on a second shift and forward selling that capacity into an elevated product priced market.

EMH looks well structured to materially impact its fortunes within EU supply thematic.

Again, just my 2c and DYOR, & GLA - I'm rather bullish

Agree Jam, I expect to see OTAs and alliances spring up that allow VW EV production which moves towards ever increasing ESG compliance. This IMO means EU supply if and wherever possible and ex EU if and where necessary.

I would expect EU to have a lengthy appeals process on per vehicle fines for low ESG compliance that would take into account any OTAs within EU borders which would indicate movement in this direction.

If I were coming up with an ESG framework I would do it based on projected ESG compliance initially based on a 5 year look ahead then revising the look ahead lower year on year until ESG compliance became standard expectation.

This means projected capacities from within EU need to be mopped up by big EU auto sooner rather than later. Auto makers slow out of the blocks in making LT agreements and investments will find themselves with the begging bowls out for capacity which will not exist and be facing fines on imports which make them grossly uncompetetive for sales in EU.

Will happily hold my hands up if this proves to be wron but IMO its clear where this trend is heading.

DYOR and GLA

Hard to see how Babis can gain more from stopping a project this size that his govt effectively owns 51% of vs having faces in the trough along the way. I'm sure he will have allies at board level who will make out quite nicely from the development of this project however speaking personally I feel the project size, EU thematic and attention and the fact that NPVs are so far based on a tonnage which is very scalable - Babis is my least concern in unlocking the value.

The bigger challenge is getting a technical team in place to achieve vertical integration to Tier 1 battery quality material. This technical knowhow is the rea where BCN partnership with ganfeng had an advantage in getting to production with greater certainty however EMH has massive geo advantages IF we can get the technical team in place.

Dumbpunter is invested I believe in BCN (as am I) and no doubt believes ganfeng will supply VW from there however my thesis is BCN will supply across to bothe asian markets not constrained by ESG and into USA across the border.

EMH is very well placed (invested here too) to benefit from:

1. Punitive charges on low ESG compliant materials coming in to EU territory
2. EU rules on not being able to landfill waste resulting from imports from mined sources ex EU (see Rodney Hooper and Howard Klein recent crux interviews regarding this)

This amounts to large geo advantage for EMH given its size, vertical integration and EU carrot and stick incentive scheme.

Interested folks should also see Keith's recet crux interview (terrible sound quality mind), he exhibits an intimate knowledge of EU money northvolt has already received and is bullish on an OTA generally however its the VW presentation and the northvolt link that interests me. I suspect (but its only my opinion) that VW will JV with Northvolt for a gigafactory and Northvolt will be the first OTA with EMH. I will be delighted to be wrong about this if VW do OTA direct with EMH as the brand value of direct deal with VW would be even better.

I think OTA gets SP moving northwards them a small share consolidation takes SP up and issued shares down so $3 sp can be reached to get nasdaq listing requirement met.

Lots going on I think.

DYOR and GLA

Agree John, Liquidity I think mostly provided by retail and traders. Nice slow creep suits me just fine

It’s a bum joke fulmar... it’s a bum joke #facepalm

Tom the amount of times someone has typed "you can't buy a bean" only for me to top up with beans is amazing. Get a beter broker. Still easy to buy.

New shares issued = dilutive, just not dilutive at discount to SP and hence less likely to result in early sell off forcing SP down.

Still dilutive but capital raises are always needed to push activity forward to SP accretive milestones.

It just is what it is. Business as usual and will hopefully get us to a point where LOI wrt JV becomes an actual signed JV

Musk is an amazing promoter and his investor base is very forgiving to date but on business fundamentals VW are huge.

This will be very interesting.

If so certain Hottesttony just short it. Best to back your opinion with skin in the game. A virtual portfolio buys you virtually nothing.

Nice gradual climb back to 56p region will suit me just fine then consolidate for a bit and a return to 64p. No reason why not but just an opinion of course

Share price is a floating abstraction. It only has a material bearing when a trade is made.

That’s sad news as I bought more :)

Sad string of negative deramps sohbutt, pretty asinine

Well , put another 18k shares in the bag late this afternoon

Reports of NT to buy are greatly exaggerated

you mean 0.23 no?........

Yup me too good shout Sirius

many thanks the Iceberg - much appreciated

I think there's lots of upside headroom here at this price John , am bullish for my holding but something is stopping me pulling the trigger on accumulating more.

Last 2 Crux interviews - first one PS I found impressive, most recent less so. Again just my opinion but can't help feel we'll be flat here for a little longer