Sapan Ghai, CCO at Sovereign Metals, discusses their superior graphite test results. Watch the video here.
I am sure KC wants the Cinovec project over the line as much as us investors.....Personally, I believe the year 2023 will be the year for EMH to significantly press forward....the DFS being delayed makes sense to me given the break-through success on the LCP/LCT, which we now know could potentially be patented.
RockStock (although a paid for interview) made a strong point that investors need to focus on .....an illiquid stock on game-changing news could quite easily double/tripple on such news flow!
Now that CEZ are involved everything will be done professionally...and completely to the standards of any blue-chip corporation!
It's good that KC is being reigned in by his new bosses!
Any financing will be subject to certain approvals including the most important one the "Environmental Impact Assessment (EIA")...Of course the fact that the Czech Government own 70% on the majority shareholder CEZ holds some very significant weight!
"Dave, that looks to be good news but can I ask how you know this?"
hey, no problem....if our lead engineers (SMS group) were no longer involved we would have had an RNS informing the market/shareholders .....because obviously its market sensitive information!
Front End Engineer Design (FEED) SMS Group are still involved in the Cinovec project and will continue to act as lead engineers and will now work closely with both the EMH team and recently newly appointed DRA Global to complete the DFS for the largest hard rock lithium deposit in Europe.
All good!
cont....
"The government also perceives the importance of local air traffic, which is why, with this government resolution, it gave a mandate to negotiate the replacement of this locally important infrastructure by choosing a suitable replacement airport," Ocko added. The Czech Aviation Association is protesting against the cancellation of the airport due to the construction of the gigafactory. According to the association, the airport represents an important economic and security location for the entire region west of Prague. According to pilots, the airport is the fifth most used in the Czech Republic.
At the reserve military airport in Línich near Pilsen, the state enterprise Diamo started geological survey work last week. Diamo will take samples of groundwater and rocks, and plans to complete the work in the locality within two months. This is a standard process before any design or construction work can begin. The results of the survey will serve as inputs for further decision-making processes and possible engineering preparation of the territory.
https://www.ceskenoviny.cz/zpravy/vlada-odsouhlasila-nezavazne-memorandum-s-volkswagenem-o-gigafactory/2319943
translated:
The government approved a non-binding memorandum with Volkswagen on the gigafactory
today approved a non-binding memorandum of understanding with Volkswagen on the construction of a gigafactory for batteries for electric cars in Líny near Pilsen. The memorandum is supposed to set the basic parameters of future cooperation, but it does not indicate in any way how the company will ultimately decide when choosing a location. This was stated by Prime Minister Petr Fiala (ODS) at the press conference after the government meeting.
According to Fiala, the expected investment in the gigafactory is around 120 billion crowns, but mainly the project would help in the effort to prepare the Czech car industry for electromobility. At the same time, it would mean the arrival of new technologies, the creation of new jobs and stable income for the state budget.
"I am glad that the requirements of the potential investor and the affected municipalities and regions are being successfully reconciled. We have made progress in solving the transport connection precisely in cooperation with the municipalities, and the government today, in this context, as the next step on the way, so that the Czech side will do everything that is necessary needed, and had a chance to win this project, agreed to a non-binding memorandum of understanding," Fiala said.
In addition to the Czech Republic, Volkswagen is also considering locations in Poland, Hungary and Slovakia for the location of its battery factory for electric cars. He should make a decision by the end of March. He would like to start construction at the end of 2024 and produce battery cells from 2027.
In order to ensure the personnel, technical and organizational background, a division for the preparation of business premises will be established in the CzechInvest agency on March 1, which will deal with preparatory work on the project. "This is the best option, which will appropriately expand and supplement the agency's other services towards investors and at the same time use the data bases and knowledge of the territory," said Minister of Industry Jozef Síkela (for STAN).
Between October 2022 and January 2023, according to the authorized director of the CzechInvest agency Petr Ocek, five meetings were held with the municipalities concerned by the preparation of the strategic business park. The topic of the meeting was getting to know the proposed form of the zone, the connection and routing of the distribution and transmission network, the road and rail connections of the zone and the proposals for amending the spatial planning documentation. They also discussed how to best meet the needs in terms of social and educational infrastructure development.
cont..
"In just a few days, the Czechia should send an official application for a tender for the construction of a battery factory, which the Volkswagen automobile concern wants to build in one of the Visegrad Four countries. The Czech government is striving for the factory to be established on the grounds of the military airport in Líny near Pilsen. Today, the Ministry of Industry submitted a plan for the preparation of this project to the government. But it drew attention to the fact that some key documents are missing."
@paddy "Full funding is already in place - if by the end of CY23, Wyloo and the directors take up all their options priced between 10 & 12p then there will be another £64.6 million coming into the coffers."
Maybe you can also include number of shares in circulation should all these options be exercised....there will no doubt be other performance shares issued by then....care to comment on dilution?
Not a Skoda fan but the new fully electric ŠKODA ENYAQ SUV looks pretty cool - a great example of the EV revolution - another reason why Cinovec will be have to be mined. Lots to look forward to!
What annoys me is that EMH do not keep shareholders fully updated - specifically wether Luthardt Investment GmbH fulfilled its obligations under the agreement (see rns dated 28/10/22)...
"(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."
Was this "tranche 1" successful or not...as shareholders we have the right to know - governance here is grey to say the least!
Rant over!
Speculative investment with high rewards and still holding - silly not to in 2023 which we have been told by CEZ that they will deliver the DTM/FID.
Not sure if this report was posted here before (apologies if it did)....anyway a good read on how Europe responds to the US IRA....and nice to see CEZ/European metals recognised/identified as a significant part of the supply chain.
In my opinion a very knowledgeable report.
https://www.transportenvironment.org/wp-content/uploads/2023/01/2023_01_TE_Raw_materials_IRA_report.pdf
Babis involved again....
https://ekonomickydenik-cz.translate.goog/se-zestatnenim-cezu-to-neni-tak-jednoduche-jak-rika-andrej-babis-ve-francii-na-niz-poukazuje-maji-nemale-problemy/?_x_tr_sl=cs&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=sc