Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
That's the thing with panic buying - it's a self fulfilling prophecy. Regardless of whether people "need" fuel right now, people are gunna rush to get it out of fear of missing out. Look at the toilet paper fun early covid days - people weren't wiping their ass anymore than normal, but were terrified they might have to reach for the towel rail instead!
EV owners are laughing right now and people want to be in on the joke.
This fuel drama in the UK will have a similar effect on EV adoption that covid did on remote working - companies were reluctant to adopt a remote working posture which may have taken a decade or more to become the "norm", but were forced to almost overnight. All it needed was a catalyst (like this) to push people into something new.
There was a statement from EMH, I think when they announced the EMHXY listing, that it's either not possible or ill-advised to list on the Czech market as a pre-revenue organisation - We might be waiting a few years for that!
Lovely spread in the Sept 11 Telegraph magazine - Front page reads "What lies beneath - Is Cornwall set for a Modern-Day Gold Rush?" Followed by 6 pages of the history and future of Cornish mining. Very lithium-based, but great publicity for that is publicity for us I suppose!
One of my biggest concerns about investing in junior minors is the risk/impact of the local populations distaste of mining so close to home, but as we all know and can imagine, on quote reads from locals who say "We want this, we want the jobs"
Desperate to be a shareholder in Cornish Lithium as well as here - not sure if I'll have to wait for the IPO.
GLA
Just wanted to provide a source to your comments WRT the shareholder agreement: https://www.youtube.com/watch?v=AuBBecki3rI&t=117s (Talking about the agreement around 21:20 into the video). The actual quote:
"[...] very strong and protective shareholder's agreement that formed the basis of the transaction [...] Could CEZ end up with 100% of the project? That's possible, but it is something that is stipulated in that shareholder's agreement, it's very clearly set out, and that has nothing to do with our (EMH) market capitalisation or where our shares are trading."
Must've put a high price on that 49% we own otherwise we'd be bought out by now, in my opinion.
I wonder when this interview was recorded - Keith mentioned there that production to start in 2024 despite recent claims by CEZ.
Also, the noticeable omission of the pink sheets listing (EMHXY) would be odd if it was recorded in the last month or so.
For me, it's the lack of news from EMH's end. Not only that, but abandoning previously communicated timeline with no reason given isn't much good neither.
Keith himself did call this period of exploration "boring" which I totally get, but he did also commit to communicating the progress of the DFS at each stage which I would have expected by now.
Off-take announcements being kicked down the road like a can - First it was April we expected an announcement, then End of Q2, now it's anybody's guess. There was a time when almost each day someone on this board said "offtake imminent" and here we are...
Ultimately, other than the general lithium market, there's nothing to talk about here. Don't get me wrong, I'm not thinking of closing my position yet, but I'm certainly not adding to it neither.
Well, they've removed the slide in the investor presentation that provided a timeline for each of the investor value catalysts (e.g. offtake) so either there's complications of some nature with the project (operationally, politically etc.) and/or they're just not confident enough anymore to communicate a timeline - Why? No one knows because they're not communicating. Maybe they're just a little slow on making graphics.
I found a copy of the presentation (post-rebranding) that I downloaded before it being removed, so here's a reminder of what was the timeline back in June when it was published:
Lithium Hydroxide offtake agreements: Q2/Q3 2021
Commercial samples sent to customers: Q4 2021
DFS: Q1 2022
Construction: Q2 2023
Production start: Q1 2024
I feel CEZ is keeping EMH very much in the dark and having a lot of closed door discussions with customers e.g. VW/Skoda - EMH essentially being told "leave the big business to us, you just worry about getting it out the ground", but that's just the nature of the relationship. Psst, Keith - Blink twice if you're under duress!
Oh well, we're doomed to suffer more of Babis's political posturing for a few months yet.
What is your understanding of the relation between Keller and EMH? How close is he to the operations of the project.
I notice Armco Barriers are a major shareholder and he likes to tweet about the stock often.
Was just checking $EMH on Twitter a few minutes ago and came across a tweet from Howard Klein on August 1st on the interview with Keith.
I was looking at the replies to the tweet and saw someone asked for a price target and a certain Richard Keller replied saying "$10.00 Aud in next couple of months". Regardless of how unlikely that may be, I checked his Twitter profile to see if he had any investment-related qualifications in his bio and saw that he's the director of Armco Barriers Pty Ltd who, as it turns out, is the second largest shareholder of European Metals according to this from the EMH website:
"ARMCO Barriers Pty Ltd, Road & Construction Supplies of Australia Pty Ltd for the Keller Super Fund A/C and the Estate of Anna Keller have an aggregate interest in 16,566,000 ordinary shares (via CDIs). ARMCO Barriers Pty Ltd is interested in 13,633,000 CDIs, Road & Construction Supplies of Australia Pty Ltd as trustee for the Estate of Anna Keller is interested in 1,010,000 CDIs and a related party to these entities is interested in 1,923,000 CDIs"
I'm assuming Anna Keller is a relative.
In fact, it's not just this tweet. Going through his history the vast majority of them are promoting/ramping/whatever the company.
Just feels a little "off" is all.
Went down a bit of a rabbit-hole with regards to what's going on with the EMHXY listing and as to why we're not seeing a quoted price on Google Finance, Ft, CNBC etc. - According to OTCMarkets.com EMHXY is "unsolicited quotes only".
Here's a few links for further reading:
https://www.europeanmet.com/american-depositary-receipt-adr-program/
https://www.otcmarkets.com/stock/EMHXY/quote
https://www.sec.gov/fast-answers/answersunsolicitedquotationshtm.html
Fair points, Malik - I hadn't considered these and was admittedly looking at it as a "not with us? You're against us" perspective.
Still, ultimately, projections are that there's going to be nowhere enough lithium to go around so having fewer spades in the ground only makes the metal more valuable.