EUR IMPLIED SHAREPRICE VALUE IN CRML, page-17

A share is only worth what someone is prepared to buy it for. Currently the value is 6 cents. On paper it is worth 46 cents . EUR is an Australian company on the ASX and also on the German stock exchange. So in reality the share is only worth what an Australian is prepared to pay on the ASX (or a German on the Frankfurt exchange). And that is 6 cents.
The other reality is that the mainstream brokers, and mainstream media do not like TS. I have been told several times to get out and run. I cannot see any change in this sentiment soon.
EUR is lithium orientated and lithium is wallowing. So there is no hope in that direction until there is an uptick. Ireland needs $25M spent on it and if it is a viable resource then it worth the DFS and some action in the share price. But this could be 4 -5 years away. If the Ukraine war ended today, (unlikely before the end of 2025), it too would need $25M and 5 years.
CLE is most likely to have a deal done. At best that will be 50 cents, giving EUR a max of $37M. Peanuts compared to CRML.
The licenses in the NW are years from developing any potential.
The immediate real value of EUR is in the CRML shares. The challenge is to get Australian investors to invest in an ASX company that has a major holding in a new US company listed in the US. At present there is only arbitrage. That arbitrage only exists if there is demand for CRML and sufficient reasons to control CRML. Austria is not a reason to control CRML. If Wolfsberg ever gets into production, it will only a bangers and mash return. That leaves Tanbreez.

Thus EUR needs somebody that is prepared to take a majority stake to control EUR and thus control CRML. For Tanbreez. That needs Tanbreez to get a go ahead, and a definitive 100% takeoff agreement with US Government backing. I cannot see an Australian investor doing that, so we need a true arbitrage takeover. That will not be at 46 cents, it will be considerably less. This route does not help EUR, it kills EUR.

At present the CRML stake is still hairy fairy stuff. There may be some uptick once the shares come out of escrow. There is still the bad press and the anti-TS brokers downplaying every move. I see two things needing to happen and that is (1) the B options need to be taken off the table as soon as possible by deferring them as the A options were done, (2) some CRML shares be cashed in and a meaningful, I repeat a meaningful dividend paid to shareholders.
By meaningful, I mean at such a price that the A option holders will be tempted to convert. More importantly the general Australian investors will see the value in investing in EUR. And the anti-TS brokers may wipe the egg off their faces and the press may have report positively.