Member Info for Jemesa

Last week you were claiming a fair price was 24 p, but then distracted yourself with horse's weenees - poor little Mickey Mouse.

You came onto this board claiming you'd be here to enjoy yourself at our expense, but you have only seen the share price rise, as it gets closer to the funding announcements that will most likely include a buy out offer at fair value.

The cruel fact about EMH and Geomet is that the timing has never been right. When lithium was at a crazy price the political will wasn't there. Then as the political will and JV came into being the price had crashed. Now even the most myopic among us can see two things have changed, these are the price is right and the political will is right.

It is not difficult to see what happens next because EMH is ready to make way for an incoming investor by selling its 49% of the company in the driving seat to meet the political will and investor confidence.

You were not wrong when you believed in EMH you were just wrong in terms of timing. Ultimately the only person you are arguing with is yourself, and all you are doing is highlighting your own inadequacies.

Please sell now, it will ensure more entertainment later.

The only thing that's actually low ball at the moment is the DFS given the 40-50% price surge in lithium in 2026

You should definitely sell now, as the timing is perfect for anyone looking to hoover up shares before the funding deal is announced. Go for it.

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Great share, Sir!

Did they just announce the end of the ICE - and its lithium…

I understand where you're coming from. This extended quiet period means we're examining every tea leaf for signs, and it's frustrating having someone spoil the fun every single day. If there was some intelligent comment or genuine attempt to engage it would be ok, and surely kicking down sand castles gets boring at some point?

Anyway, I am following with interest the Posco updates and also noting the rise in lithium this week (and the reasons for that), and I suspect more than anything the latter is behind the recent rises and interest in EMH. I'd like to think it was more than that, but the recent trading pattern has been notable.

If there are more knowledgeable people than me with any insights that would be most appreciated. But I expect we'll just tempt the swivel eyed loon out from under his rock to make a predictable comment with a lol and a drool.

I think you missed the point and/or perhaps you didn't see his grand point about EMH and the horse, or perhaps your scratching your chin and thinking.... hmmm very philosophical?

You can't engage with a troll. Ultimately its like playing chess with a pigeon - no matter how good your move is, the pigeon will knock over the pieces, poop on the board, and strut around like it won anyway. More sensible people than me have suggested not engaging at all.

the problem as i see it with engaging this skelly-wag / mickey mouse, is this:

we are all using our finger to point mickey to what emh has achieved with the geomet project which represents the culmination of a multi-year, multi-million dollar industrial project that will vertically integrate and unlock of europe’s largest lithium deposit, situated on a brownfield site in the dead center of the industrial zone where it’s most needed to secure the eu’s survival, break china’s dominance, and peak the continent’s decarbonisation drive with the backing of state majors, serious legal systems, and proven ip that qualifies for esg status and a 30% "green premium" to ensure billions in profit at today's prices that are rising rapidly - while demand for lithium is about to go ballistic not just because of evs but because of...well, everything.

mickey is just standing there with a dull look in his eyes, looking at the finger and saying there's a huge problem because the finger reminds him of a horse’s *****.

Ok Mickey, your 24p pitch and your horse fantasy didn't get you anywhere, let's have a think about what would happen if you pitched your latest idiocy to the Board:

Ambassador Bloomfield Jr.: "Mickey, calling a BIT-protected, EBRD-backed company a 'liability' is a joke. We aren't a risk - we’re the Western-aligned insurance policy. The State doesn't grant veto power to 'shells'—they pay a fair-market exit fee to remove them."

Richard Pavlik: "Your maths is failing. Our April 15 RNS veto means CEZ and POSCO are deadlocked without us. To unlock the €360m grant and a 4 trillion CZK resource, the State will realise £300m—roughly 120p a share—is a bargain for the gatekeepers. You're out of your depth Mickey Mouse."

You've done it again - you have found a huge Green flag. But perhaps your Mickey Mouse calculator doesn't have enough zeros to enable you to understand.

When the 51% sale to CEZ was finalized in April 2020, and based on share prices then EMH sold 51% for €29.1 million.

In 2020, for about the same share price a shareholder had 100% of a project with no government grants, no definitive feasibility study (DFS), and no permits.

Today, a shareholder has 49% of a project with a DFS confirmed, the EIA submitted, and €400 million in grants.

So at the moment what you are showing everyone is that for each EMH share the shareholder has 71.5p worth of government-backed grant cash - for the bargain price of 17p.

Mickey, what with your claim yesterday that the minimum the share price should be is 24p, the buyout is definitely happening and now your post that highlights the extreme value of a single EMH share - I have to ask you be responsible and STOP RAMPING EMH!

A fascinating insight into how Mickey Mouse thinks foreign investment works.

So, after you present your latest theory with a PPT and graphics to the board, a few things would be pointed out to you either by Lincoln Bloomfield Jr. who would start by reminding you that he's a former US Assistant Secretary of State and National Security Advisor or Richard Pavlik who would explain that he is a former Chief Project Manager for OKD:

1. The Veto Protection (April 15 RNS) - shows that your babbling about dilution will fail due to the Law and the Geomet Shareholders Agreement which requires unanimous approval for any major funding or structural changes.

2. Nothing moves without Keith Coughlan’s signature - This is why a buyout is the only logical path forward for the Czech state.

3. The European Bank for Reconstruction and Development (EBRD) is a major shareholder and the EBRD is owned by 71 countries and the EU. If the Czech state tried take the asset or force a lowball offer, they would be arguing with the major financial arm of the European Union.

4. The Bilateral Investment Treaty (BIT) - EMH is protected by the Australia-Czech Republic Bilateral Investment Treaty (1991) which legally protects Australian investors against measures having effect equivalent to nationalisation without full, prompt, and effective compensation at market value. This is in addition to property that EMH owns that is also protected by the CZ constitution.

5. Because Cinovec is now an EU Strategic Project under the Critical Raw Materials Act (CRMA), any move to dilute EMH into oblivion it would trigger a legal crisis in Brussels.

Look, Mickey, this isn't a zero sum game involving horses in the way you fantasize. It's a situation where everyone moves on with after being fairly treated and with the most likely outcome that CEZ/the state becomes the 100% owner of the project, a huge financial/construction deal with Posco the most likely candidate, the EU providing the security deposit of 400m plus lithium at cost +30% - and EMH being paid a fair price for getting this project to where it is.

If you and Mickey were the 2 applicants, they chose wisely

We'll pass on your details in case Mickey Mouse isn't available to provide advice to the Board

At this 90% discount price you are suggesting 24p (approx) per share. On behalf of all shareholders of EMH I would like to express relief that you're not negotiating for EMH.

But imagine if you were, and you came up with that suggestion in a room full of serious people, what do you think would happen?

So, you've gone first and just put your 24 p argument forward... I suspect there would be a few moments of silence perhaps punctuated by you breaking wind.

I expect the first person to politely cough, would be the European Bank for Reconstruction and Development who is a fairly significant share holder who bought in at 42.3 pence per share. They'd probably explain that they could not accept 24 p or anything less than 60 p for a project that they have been a large part of seeing designated as strategic for the EU.

Then I expect Lincoln Bloomfield Jr. (a former US Assistant Secretary of State and a Presidential Envoy with the rank of Ambassador would explain he's in this to prevent any sort of "Arseclownery" that you are suggesting which would lead to a diplomatic incident from both Washington and Brussels.

Then your ex Keith may pipe up explaining that he's thinking about getting a restraining order against you but thanking you for uncovering the green flag last week of the Veto - that EMH enjoys meaning that any funding or major structural changes require unanimous approval from all shareholders. With the patience of a grandfather explaining something simple to his most delinquent grandchild Keith would explain that this means EBRD and the board members have the legal power to say "No" to a 24p deal. It would be explained that unless a serious offer was made by CEZ then the alternatives are:

1. third-party debt (which they are already doing) or

2. a third-party like a German car OEM to buy out CEZ's position or partner with EMH directly.

Remember if you are valuing EMH's 49% at 24 p then you are valuing CEZ's position at the same price.

Hopefully you now see how ludicrous you are.

But if you could just answer the question: what do you think the offer will be?

The problem is you've clearly never been in a serious commercial negotiation. If you had, you would know that nothing is on or off the table, and the legal backstop for EMH is that for Geomet to move forward there has to be 100% agreement as Keith mentioned last week.

But if you could just answer the question: what do you think the offer will be?

Interesting that you say “when CEZ” not “if” CEZ make the offer. So what do you think that offer will be?

The cost of producing the lithium will be a factor and if tin and tungsten credits bring that down in the same way as the EU protection raises it then it will all factor, and it will factor too because Keith explained in that RNS all decisions have to be unanimous to move forward. Shareholders have to be happy and we know the EU PPP model is a factor here as well as the EBRD shareholder.

Looks like a fascinating negotiation. But you’re even more bullish than me that it’s just a when not an if

So at the moment: there’s a $6500 per tonne ESG bonus above the DFS figures that showed a couple of billion NPV, then there’s the tin and tungsten and the extra years that ASX made Keith remove… hopefully this all factors into a share price deal