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Jemesa, that is maybe your own opinion and I am not saying I dont agree with everything you stated, but unfortunately and quite clearly the market does not share the same perspective. We need to have a balance between all elements you mention but with a particular focus on timely delivery of results. Unfortunately not something we can say has been a hallmark of this project so far.

Good to see the public hearing, but seems like they are cutting the timeline fine. I guess good news that the people running this process are the same people approving the JTF grant, so it would look a little dumb if they didnt approve by the end of June because of their own tardiness and then decided not to extend the JTF timeline, unless of course there was a geomet specific issue that caused the perceived late public hearing. In the grand scheme of things not a major issue but continues to highlight a lack of urgency and is hardly showcasing CZ/Europe as open for business at a time when the Chinese are eating their lunch.

Posco have considerable IP to bring to the table so will want to gain max leverage from that in terms of participating in the upside of what is a base case DFS. Just taking the tin alone into the flowsheet (or tailings treatment) will improve the opex and there are more improvements to be had. Pretty likely Posco would be able to use their experience during FEED. So I think option 3 for Posco is the least risk but they dont get to share in any of the upside they bring to the table. I think option 2 more likely.

Jemesa, interesting on the timing, it has certainly crossed my mind. FYI there are also 5m options at 25c expiring at the end of June. I presume these are Keith's.

I think we very clearly have a fork in the road ahead. FEED is our next major milestone post EIA approval and whilst Geomet will undoubtedly lean on contractors to complete FEED there is a distinct lack of experience in the JV currently around designing and building a lithium processing facility. especially on this scale. This is aside from the financing that will be required to complete this and other activities to reach FID.

Skelly, perhaps they wanted full control over the asset as they have a strategy to feed later trains of their processing facility in bitterfeld with the zinnwald concentrate, very unlikely that they would ever be able to take the cinovec concentrate out of CZ, the majority JV partner highly unlikely to agree to that.

Bizzler - the way the last RNS was written is that the cross border EIA process is separate to the czech process so no dependency on that being approved in order to release the JTF funds. On this basis, I would expect the cross border process to be managed in parallel to other activities post the CZ EIA approval at the end of June (fingers crossed of course)

30p wont get my vote and I know plenty others that make up a large % that wouldnt vote that through either.

Just on a like for like basis on resource valuation EMH is worth 33p when compared to AMG and is about 2 years further forward including having a DFS published. The cost of the DFS alone is worth something like 7p per share uplift. There are a load more positive differentiators for EMH vs ZNWD so I would have thought we wont even come to table for anything less than 50p. I think the AMG deal for ZNWD is a great reference point for EMH

On balance the comedy value is probably worth putting up with him/her (her would probably make more sense)

I'd like to think I have some conviction on my position with this one but the troll is something else.

Jesus wept, looking in here and seeing the troll still riding the absolute nuts off it . i take my hat off. You must be a great guy to be around in your free time

FYI correcting an error I made in a post earlier that the read across takes the EMH valuation to 33p (not just under 40p as i mentioned). I still maintain that EMH should be materially north of 33p given:

-PFS complete and advanced with permitting/EIA

-Lower capital intensity, larger scale project that is scalable

-EU and Czech government support, CRM strategic status with large capex grants

-DFS upside with tin and other processing improvements

Any new news (eg offtake, EIA Approval, further grants) would be further accretive to upside. DYOR.

Yes, their numbers are low but i make the raw read across on a EV/t LCE basis for our share of Cinovec just under 40p. However there is legitimate grounds for a significant uplift for EMH based on Cinovec being:

-DFS Completed, so more advanced

-Grants in place for Capex, hopefully more to come, so at this point lower capital intensity

-Resource includes tin not yet in the DFS

-Greater resource scale enables increased production

-Well advanced on permitting and EIA in 6 weeks(hopefully)

Overall great news for Cinovec and EMH. Validation of the Orebody and feasibility of a project on a much smaller share of the orebody. EMH SP should rise tomorrow. GLA

Dear all, I'm pleased to see the EIA process moving forward and looking increasingly likely that we will comply with JTF process that releases more grant funding. IMO, pretty sure this wont be the last free money for Cinovec we hear about this year.

It is also very encouraging to see lithium carbonate futures kicking on and above the DFS pricing. I hope that we see the momentum continue, $30k/t seems likely in the short term and UBS have very high price targets for this year.

There is still plenty do here, but the risk reward seems very solid at this level and I will topping up soon and judging by todays volume it looks like there plenty of other investors, getting stuck into EMH as well. GLA

HTTps://www.linkedin.com/posts/danielbene%C5%A1_ot%C3%A1zka-energetick%C3%A9-bezpe%C4%8Dnosti-je-glob%C3%A1ln%C3%AD-activity-7429524776135823360--tAW?utm_source=social_share_send&utm_medium=member_desktop_web&rcm=ACoAAAEM9YQB2i5IVNuoq4RRISH0IZNj3nQgDKA

Nice find @Greenmachine67

the Czech's and Korea are pretty tight, this is his 2nd meeting with a Korean minister in less than 3 months.

Pretty likely Cinovec on the agenda again IMO

https://x.com/sporazene2/status/1998404176439656926?s=20

LukasK - I agree co-operation with Korea is definitely a likely route. Posco would be an ideal partner into the Geomet JV, but one of the missing pieces of the jigsaw right now is a CAM offtaker. The only Korean CAM producer in Europe right now is Ecopro, they are firmly hydroxide chemistry. Hungary could be a desination for some of Cinovec lithium though as their are LFP chemistry batteries being produced there by CATL.

From what I can gather the deal with BASF deal with Vulcan was not as a lithium offtaker and not focussed around their CAM plant in Schwarzheide which is just up the road from Cinovec. Interestingly BASF has recently signed a global deal with CATL to supply CAM's, but their Schwarzheide plant is not set up for LFP, although expansion has been mooted but not committed

Jemesa - also of note is that Hyundai also has their only European Car plant in Czech. there are some EV's produced at that plant, but their batteries are NMC chemistry so will require hydroxide in the cathode.

Will be interesting to how the offtake plays out, i certainly had a korean connection as a likely offtaker, plus BASF who have the CAM plant a short distance away, but the only CAM plant for LFP batteries is CATL in Hungary. Certainly points to a new player (potentially Toyota that are going to making EV's in CZ with likely LFP battery chemistry), but there arent many CAM producers for LFP batteries in Europe today so would need expansion of existing facilities (eg BASF) or a completely new LFP CAM plant, but not sure how economic that is in Europe

3rd party validation via an offtake or someone coming into the JV is the external/industry validation that we need to push this over the top now IMO. Great news with the re-zoning yesterday, this points to the EIA approval being a formality IMO and likely to come well before the end June deadline for confirmation of the JTF funds. Looking increasing likely that we get FID this year and it was great to see Pavel Cyrani indicate that the location can attract adjacent industries (CAM Plant or Giga factory got to be the fav) GLA

Game on. EIA next.

Here is the livestream for our czech speakers..

https://www.publicwire.eu/regions/ustecky/stream/stream.php

Https://x.com/sporazene2/status/2019406608132878414?s=20

MOU in 30 days.