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HTTps://news.metal.com/newscontent/103121013/China-proposes-export-ban-on-battery-and-lithium-processing-technology-%E2%80%94-here-are-the-specifics

Charming as ever Skally. I think the next update from Cadence will show them as close to or out of EMH.

My statement that it was likely that cadence sold out is a belief not a lie. For it to be a lie I would have to know they haven’t sold, and I don’t.

For avoidance of doubt my belief that they have sold out completely is based on their rate of selling down their EMH holding from Dec 23 to June 24 together with the deeply discounted fundraisings cadence have undertaken since June 24 to fund their ongoing activities.

They were down to about 2.4m shares in June and looking at our share price it is likely they have sold more since then IMO. I could well be wrong but given they raised cash at a 42% discount to their own share price a few weeks I would be surprised.

Time will tell if I am right or wrong..

@greenmachine decent list and I think we should know direction of travel for the rest of this year come February 1st if/when the Czech regulation is passed for Cinovec. On this basis, the risk/reward looking attractive now given cadence likely sold out completely and with low liquidity/low share count we know from past experience this moves quickly on anything like reasonable volume.

HTTps://x.com/sporazene2/status/1871511533433573690?s=61

People can judge for themselves if the recent moves by the CZ government, if confirmed on February 1st are material progress.

Skelly 85. You are right, up until this point there has been a lot of talk, far more than tangible action. The potential designation of Cinovec as strategically important on February 1st will be a tangible step IMO and likely to be the first of many in the lead up to the DFS release. 2025 is an election year in CZ.

LusasK thanks for sharing the link. Going through their faq’s I would say this February 1st milestone is pretty important for us as it relates to accelerated permitting. The way they have written the commentary, they are taking about throwing the towel in on the permitting if the PM signs the regulation on Feb 1.

Given that the CZ government have made clear their intention to recognise the project as strategic from February 1st, this signals two things from my POV

1 - there is sufficient support locally for Cínovec to move forward based on the new location of the processing site at Prunerov. Within the detailed documentation we also see reference to accelerated permitting which is good news

2- the chances of Cinovec being recognised as strategic in q1 as part of the CRM act have increased.

Looking back there is no doubt that local opposition to the Dukla site was one of the main causes of the delays and without doubt the CEO has handled communication poorly on this and other topics, including offtake.

The questions in my mind, are we seeing signs of life? Is the project still moving forward? Based on the last two new releases I have concluded “yes”

given repeated commitments by the CEO for the DFS (now on increased annual production) by mid year and other news in the pipeline to support that, the risk reward looks pretty decent.

I am also seeing the massive risks on the EU automotive sector finally pushing the EU and their member states into action to prop up the sector. This could be via the EIB or one off packages from the member states, it seems pretty clear to me that the prunerov site could attract massive investment in not just lithium

One thing is for sure at a market cap of £15m this is price to go bust.

What a load of old rubbish - there is one non exec on the board from KDNC, AFAIK non of the other execs or non execs are connected to KDNC. so the statement the the leadership of KDNC is the leadership of EMH is just more FUD. Come on Skelly you have lots of other easy stuff to pick on without making it up

Dont be fooled by the BS coming from Skelly et al - all stakeholders in Europe are calling for more progress; it is not just EMH that are suffering from the lack of progress.

This from the CEO of Finish Minerals Group just today:

Important morning today at the 8th annual European Battery Alliance high-Ievel meeting. I am honoured to represent industry views together with Peter Carlsson, Josep Maria Recasens and Benoit Lemaignan. Finnish goverment was presented by minister Arto Satonen. Thank you Maroš Šefčovič, Diego Pavia and Ilka von Dalwigk for arranging the event and your continuous support for the industry.

Key content of FMG’s message for member states and for the comission was:

1. We need to create level playing field for European industries

• Level playing field means the same requirements that the EU puts on

European industries need to be extended to materials and products that

are imported into EU.

• If we don’t have level playing field it means that the EU subsidizes third

countries to beat EU, while at the same time exporting environmental

problems.

• It is also important to note that within the EU Single Market, the current

state subsidy competition creates an uneven playing field inside of

Europe: it creates a very difficult situation for smaller EU member states

like Finland, that otherwise would be an ideal place for battery industry

investments and could this way fully utilize their raw material resources.

2. We need to introduce Green Premium Mechanisms.

• Sustainability offers competitive advantage for European producers.

However, sustainability has its cost, and it is not easy to compete against

producers who can press down prices with products that have much

lower environmental and social standards than we do in Europe.

• This means that sustainability needs to be rewarded and policies for this

need to be developed. I am afraid that otherwise most of the consumers

will choose the cheapest product.

3. We need to improve financing instruments

• Strategic Raw Materials need to be included into the sustainable

investment taxonomy.

• The role of the European Investment Bank should be increased. The EIB

could act as an anchor investor, making a commitment to mining and

battery value chain projects already in the beginning of financing

discussions and this way support engagement of commercial banks.

• Key requirement for financing is permitting. We need to make sure that

permitting is predictable and fast and this way supports financing.

4. Critical Raw Materials Act is a good start but we are not ready 2030. Development of mining project takes easily

10-20 years. We need to have targets for year 2035 and 2040 and already

now recognise mining projects aiming to operate that time and reward

these assets with strategic project stamp to facilitate their apace

development.

The BoD are already significant shareholders in EMH and there can be a variety of reasons why they arent buying at a given point in time, including being in the closed period and their own personal financial circumstances which none of us are privy to. so this question should be addressed to them and not put on a public forum - just another pathetic attempt at spreading FUD

Great to see EMH shareholder the EBRD at the first CRM board meeting hosted by the EU. It would be a major surprise if Cinovec wasnt recognised as a Strategic Project in the first batch which is slated for December this year.

Decent volume today and it looks like this will continue into the big reveal in April. It must have the shorters like Skelly thinking twice about closing out.

@scot126. Appreciate you responding on this. The upcoming webinar as advertised, presumably to coincide with the agm is going to be another great opportunity to get answers some of the questions on these topics. I am looking forward to hear again from the team and welcome their approach to keeping shareholders updated

Going to be interesting to hear about the assumptions they are making in those vendor financing discussions as it relates to the likely contingencies in the IER for Aphun. My assumption is that vendor financing unlikely to be concluded until the IER is finalised.

Positive update https://twitter.com/P_Fiala/status/1720438231022309860

Potentially some more publicity from the people that matter next week. Daniel Beres, Ursula VDL and Petr Fiala all in CZ for the green deal summit. I would be very surprised if we dont hear more about Cinovec in the keynotes. hTTps://www.greendealsummit.cz/

Seems that our head of project marketing is not letting it go...hTTps://twitter.com/P_Fiala/status/1705101374109745299

Until the re-zoning of the corridor that runs from the mine site to the processing plant is complete there will be no permit, as confirmed by Pavel Cyrani. The current deadline for this is December 2024. let hope the prime minister getting involved can speed this up. I dont believe I can post a document here but I shared a translated local government document which details all of this to the telegram group

Good to see CEZ upping profile with the PM visit/endorsement and the CEZ Cinovec specific website, per the link from rpks.

Permitting process and timeline the biggest risk still though and I dont expect much on this till the end of the year.