Media Watch - NVX related, page-12543

I wish I'd listened to this days ago. At the 42 minute mark they say Piedmont has walked away from their grant and applied for a loan because the capital they can obtain from a loan is much higher. The RK Equity/Rockstar boys are tight with Piedmont so we can rule out you can use a loan and grant on the same project. They are or were consultants and own a chunk of stock.

The video is a must watch. Their guest is John Miller a policy guy based in Washington from TD Cowen who knows his stuff. The 1st 15 minutes is straight politics concerning Biden/Trump but then they start discussing in greater detail than I've ever heard:

1/ qualification rules around the $7500 subsidy split between battery manufacturing and critical materials. With critical minerals he explained it's a propionate cost and said lithium might come from a non FTA costing 1x and it's processed onshore costing 2x, they can claim the 2x but not the entire 3x.

2/ Foreign Entity of Concern

3/ loans and grants - he said loans are better than grants because they're more flexible. The statutory requirements around grants are more rigid

4/ John said they have to get all the money out the door by Nov 2025 or it becomes invalid so he expects major announcements between now and then. They specifically asked him that question

John clarified a lot of points which I was unsure about