Ann: $1.5 billion Binding Offtake Agreement signed, page-96

The spec sector is a wonderous place.
Whilst I place NRZ in the “heavily undervalued” group … I have seen companies pump well over $500M MC, on little more than a commodity’s hype…. With little cash… no actual proven resource.

With the binding offtake, management should be incredibly busy on the road right now. Institutional buying over the coming weeks would be enough to start pushing the price north….. but this is up to the team to be out there, telling the story.

If they go the Korean 70/30 route, they shouldn’t have too much trouble raising the 30% now.
I would assume, if required, they could do another binding offtake comfortably.

Im still happy to wait, I’m confident my patience will be rewarded. My options are getting closer to the 12 month CGT discount and I don’t think the securing of finance will be far off now.

I think management may have had an inflated perception of how well the HOA last year would have been received by funds … i made it clear that HOAs, MOUs etc are mostly seen as useless by investors…. Which is fair.
Now they have a binding offtake, so the game has changed.
They’ve also met alot of the environmental/carbon neutral requirements that many funds likely have for investments … I don’t think all of those updates were coincidental.




Cheyne.