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clock Created with Sketch. 18/05/23
18:55
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Originally posted by dbfromgb:
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options to be issued to Luthardt Investments are unquoted and are exercisable at AU$0.80 each on or before 30 December 2023, subject to the following vesting criteria: (a) Tranche 1: on or before 31 December 2022, the Company receiving confirmation in writing in the form of a letter or other official correspondence from the federal government of Germany (or a department acting with delegated authority) or the Saxony regional government of Germany that it will formally support the Cinovec Project and the supply of lithium products from the Cinovec Project into Germany and use its best endeavours to assist the Cinovec Project in permitting and funding, apart from other factors. (b) Tranche 2: on or before 30 June 2023, the Company receiving confirmation in the form of a letter or other official correspondence from the federal government of Germany (or a department acting with delegated authority) or the Saxony regional government of Germany that it will formally support an increased production plan for the Cinovec Project subject to supply security considerations for European manufacturers of Electric vehicles and batteries.I am trying to understand the significance of the recent announcement and its linkage with the Luthard Investment objectives announced in October (which now appear to have been met). If I recollect correctly it is a legal (cross border) requirement for the EIA that both countries are supportive? As we have not seen the memorandum presumably we do not know if it allows for increased capacity. But an important (and perhaps EIA critical) milestone has been met.
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if I remember correctly thoughts were that this understanding was a legally critical part of the EIA process covering cross border environmental issues, and hence the Luthard involvement? No mention of mine production capacity but may be covered by the memorandum. Anyway a key (and possibly legally critical) milestone appears to have been met.
(20min delay)