Member Info for Jemesa

If that’s not true then the green flag just got bigger and it reverts to the auditors have seen EMH has the ability to pay meaning Deloittes have seen some sort of financing facility or offtake

Thanks 🙏- Deloitte confirmed EMH had ability to pay. EMH used a loan that it had made to Geomet that was not needed to cover its share of 13m - auditors were happy.

Dilution argument is confirmed dead.

Auditors don’t say there’s ability to pay if they haven’t seen the funds and so this was never anything more than uninformed fear mongering.

EMH cleared to FID.

Thank you - this audit report was signed on 31 March - do we know when it was made available for public release?

If I’m right, this Deloitte report is a huge signal to finance people that the auditors have seen finance capabilities of EMH meaning that they will connect the dots. Therefore, we should expect a RNS very soon to ensure market compliance with this signal.

Agree with this point, and I have seen 30% growth mostly through investments in basic industries that have national and regional level protection behind them. Rare earth/critical minerals all seem like good propositions right about now. hVIVO for me was also a recommendation from someone I trust but not a serious investment, just one that I expect to see double in the short term.

Looks like a masterclass in controlling the narrative and the decks are clear. All that matters now is what tomorrow will show for the order book, the yield, and the how this unified brand is creating more profit. It looks like everyone today is betting one way.

The audit has confirmed EMH's ability to fund a cash call and that's a green flag not a red one - it's an indication that EMH has shown the auditor something that hasn't yet been announced to the market - it means the money is already visible or secured via a bank or partner.

Doing my best not to respond to trolls, so just adding a postcript to those who are not keeping up:

1. As we know for Geomet the existing shareholders means CEZ and EMH - 51 and 49% respectively.

2. The Geomet auditor report reveals an internal project-level cash call, not a public placing on the stock market.

3. Because the project’s balance sheet is now clean and the EU Raw Materials Mechanism is operational, EMH can meet its 49% share of this €13m through non-dilutive channels like project-level debt or offtake pre-payments.

4. The 1 May deadline is 2 weeks away, and there is no proposed placing RNS indicating that this is a professional industrial funding move, not a retail dilution event.

With the EU holding one of the toddlers hands and CEZ holding the other (the adoptive parents) the mother (EMH) can wave goodbye knowing her baby is in safe hands. Other toddlers may continue throwing their toys out of prams.

Not sure, but the timing hasn't been right up to now - whereas with the recent developments the €13m for Geomet can be met without diluting EMH shareholders via project-level financing. Recently CEZ has cleared the existing debt to ensure a clean balance sheet (no dilution for EMH required), and Geomet is positioned to secure these funds through 3 channels all of which don't require dilution by EMH:

First, the newly launched EU Raw Materials Mechanism connects Geomet directly with major industrial buyers (such as automotive OEMs). These buyers can provide up-front cash payments to secure their future lithium supply - not hard to see how a meager 13m would be a "down payment" rather than an equity raise.

Secondly - with a debt-free balance sheet and a Strategic Project status from the EU, Geomet can now access low-interest industrial loans from institutions like the European Investment Bank (EIB). This debt sits within the project company (Geomet) and does not require EMH to issue new shares to the public.

Thirdly CEZ has the capital strength to provide the necessary funds as a loan directly to the joint venture. This allows the project to move forward immediately while keeping the EMH share structure intact.

No need to seek any more capital raises from EMH. Geomet is ready to take its first baby steps, and stand on its own two feet, with the EU holding one hand and CEZ holding the other.

Poor chap … when the day brought news of the EU Mechanism with its sovereign backed safety net and Matchmaking with financial institutions, and the Rolls-Royce SMR partnership.

The eu mechanism is all about bankability and revenue stability. In May we may start to see what the floor is for EU /ESG lithium stockpiling, but more importantly financiers will.

The RR partnership is all about lowering long-term OpEx and ensures the project remains the most cost-competitive and ESG-compliant producer in Europe.

Perhaps the muppet will be hitting the buy button tomorrow?

Green machine - The base in the DFS was $18,500/t. At that price, the project had a Post-Tax NPV of roughly $1.9 Billion… if the EU sets the floor at 25k NPV is north of $3bn.

I’ve belatedly realised there’s no point discussing anything with someone who doesn’t understand what NPV means, thinks geomet will pay retail electricity rates, has no idea how much a chicken costs in waitrose, contradicts herself in 2 posts side by side, and cannot understand the concept of nearly half a billion in grant funding. Further doesn’t realise tungsten and tin aren’t in the DFS, doesn’t factor in 27 years of profits that will ramp up production for ESG approved lithium, and is stuck in the 20th century with rudimentary comprehension capacity.

It’s likely that a CEZ buyout would be determined by the lithium price floor that the EU puts under the commodity from the EU - at 20k we’re looking at £1-1.50 fair buyout and at 25k per tonne who knows - £2.50-3?

100% - and the EU will be very keen for a poster child to demonstrate private investment in this sector works

Thanks, as they say, it's hard to win an argument against a clever person, but impossible against a stupid person.

The EU has its faults but central planning and the type of economic incentives set out in this report are a game changer. I suspect strongly that proving private investment in what are now national security/infrastructure projects is a top priority. We're part of that.

You don't understand the DFS, you don't understand the EU, and you don't understand the current geopolitical context.

The puts a carbon tax on on cheap and dirty imports. This is the new world we are living in. Chinese EVs don't get an advantage any more.

Every EV sold in the EU now requires a Digital Battery Passport. If the lithium isn't ESG-compliant (like Cínovec), the EV is illegal to register or sell in Europe, regardless of how cheap it is. At this point you need to close your mouth because you look a little dim.

Now realise after the Russian gas crisis, and Trump's Suez moment in Iran - the EU and its consumers know "cheap import" is a trap if the supplier can turn off the tap.

In today's world (ex Mrs Coughlan) we are paying for National Security, this is no longer a simple commodity purchase.

Before you say anything else that reveals how little you know - the EU’s $50Bn plan includes "Usage Grants" for carmakers. The state therefore effectively pays the "Premium" to the miner so the car company gets the lithium at a competitive rate, keeping the industry alive.

This is how the smart planners in the EU compete in today's world in a project and context that you clearly don't understand as you spray nothing but BS across these chats.

I apologise to anyone who rightly points out that you are no more than a troll and engaging you with serious points is akin to casting pearls before swine. To make up for this, this is the last time I will engage directly with you.

Not disagreeing but surely the key moment in the next month or so will be the EU publishes the procurement tenders for lithium prices from ESG approved sources to start the stockpile. It’s designed to prevent undercutting from China and puts a floor under the price. It’s a king move by the EU because they can’t control national government’s slow permitting but by putting in a price say $25k a tonne they can show the CZ govt what it will gain. It’s a form of market manipulation that will reward EMH, and its shareholders. Further if the eu wants to show private investors that investing in critical mineral projects within the EU pays dividends then I’m super supportive 😀

Wow. Without repeating all the macro bull sentiment this provides for cinovec - it looks to me like serious investors are likely to note the price floor the EU’s $3bn lithium stockpiling programme will put under the commodity. The DFS now looks conservative to say the least.

Fair point.

I am sure if the kick was as weak as your point my balls wouldn't feel a thing.

If you've run out of anything constructive to say, it's usually better not to say anything at all - "Better to remain silent and be thought a fool than to speak and to remove all doubt"

Some people on this thread are finding it hard to keep up. But hopefully they will understand that this report shows the massive structural pivot toward electrification in CZ.

It documents that two of the three major domestic carmakers are already assembling battery packs— and the third is following suit by doing this in 2027—CZ has given the signal that even the doubters and the slow should be able to follow that CZ's entire economic framework is now geared toward a circular battery economy.

For cinovec this report is a formal state endorsement of its status as Europe’s second-largest lithium deposit. The report cites the integration of raw material extraction into the domestic value chain as a priority for energy security - and shows how CZ academia is already aligned with R&D synergy for Cinovec.

The permitting is now a matter of national security for CZ automotive and BESS industries.

EMH is now a partner in a state-guaranteed industrial roll-out.

Again, thank you for sharing - another great find.

This Special Report explains a lot - and shows the tailwinds behind cinovec are huge - it's building European infrastructure. The project is no longer only critical but it is officially Strategic. Lithium and Tungsten are the goals - and this puts cinovec into elite status, Under the CRMA (which this report audits) these metals are subject to strict domestic benchmarks meaning 10% of consumption must be extracted and 40% processed within the EU by 2030.

This report also explains the complete silence from EMH and good old Keith it's loyal servant and he's watching the strategic realignment happening in real time and knows he cannot break wind without permission right now.

For the usual bores this report provides predictable and justified criticism of the EU bureaucray of fragmented funding and bureaucratic bottlenecks that currently plague projects.

But looked at another way the report shows the way for Geomet and CEZ on behalf of the state to ensure that EIA is bulletproof. Behind the scenes Keith is holding his breath and watching the state level coordination that previously he could only dream of, as this is now on the fast track to get around the bureaucracy that this report has acknowledged. In other words this report provides added justification for CEZ/CZ to move this along fast.

There's no hype here (in fact there is total stonewall silence). The $2bn NPV (note NET) technical DFS has matched the science, and so numbers or resource questions are no longer relevant - all that is relevant now is permitting to unlock the €396 million EU grant. Cinovec is not a matter of national strategic importance and price for both CZ and the EU - and frankly a matter of survival.

We're in the national interest situation that enables national projects to be green lit to ensure the Czech state isn't seen as the weak link in the EU's supply chain.

For us this is a strong signal that the permitting process will likely be handled with the same urgency as a national security project.

Great share - thank you!