Hi
@rama77 nothing new to report on merger, SZZL's special meeting/vote is to extend deadline by another 6 months (usual timeframe not more or less), Director election and adjournment proposal on 7th August 2023. It takes time for prospectus to be announced, post via mail then hold meeting - SEC requirements. It's all basic formalities of a Nasdaq/publicly-listed company. This meeting is important if to keep Carolyn (contractually/legally speaking). It's proposed specifically for 7th August due to 8th August deadline of merger... see it more as additional work, progress otherwise remain the same... same old SEC timezone.
It is possible for another prospectus to be announced before 7th August for the merger vote and the meeting will be held post 7th August meeting.. because of time required per SEC requirements, it's a bit of a grind. If to speculate.
What I can say is that it's important to note that SZZL is not going anywhere (usually SPACs fold) so it's a good sign but extensions do allow holders to redeem should they wish. It's costing SZZL sponsors hundreds of thousands per month of lateness, so there's pressure to "consummate" but it's really all about satisfying the SEC staff. The pressure is on PIPE - more investors the better (confidence). The other pressure is to tidy up all connected assets and paper work - a mistake on half yearly or annual report for example, the SEC goes through them with a fine-toothed comb now.
GEM is a good sign, more than just the USD125M it means Brussels is aware. They have political influence/connections in EU. It's often what's not said that has more weight than what's announced. It's worth looking up other startups GEM has given similar deals to, to learn more about their kind of financing.
There's accumulation going on with EUR... maybe it's Evo Cap - they hold a substantial amount of EUR shares/options (not related to the buy back).
From my perspective, I think Tony needs to get SZZL help work on attracting more investors to CRML's IPO and grow their kitty/what they are bringing to the merger as it begs the question why not merge with a better SPAC (everyone knows many have this couple of months have become desperate to find target companies with easily diligenced assets). I think Tony personally should work on, and it looks like he is, showing the Saudis EUR has ability and connections with construction and how to operate a lithium chemical plant. Afterall, it is this hydroxide plant that would technically "buy" spodumene from Wolfsberg project. I remain of the view that, in time, Saudis will directly invest. Japanese entities too (but that's a conversation for next year if those small talks between Saudis and Japs entities grows and materiali$e).
Dietrich needs to get cracking on EU banks and provide an update to shareholders this quarter. No matter the merger situation, EU banks financing can start construction on the mine. We need many things built.
Dietrich/Tony should also have drilling started on Lachtal and announce it. Zone 2 as well if possible. Otherwise the grounds will turn to slush if too close to winter.
I'd be surprised if there wasn't an announcement next week/end of month (July).
EUR is a safer investment than VUL in my opinion. But I want both companies to succeed.
