I agree with you there @triage.
Samples being sent to be qualified months ago to various off takers (april quarterly)
July quarterly said they were discussing PSG price and terms with off takers.
Also been talk of the possibly of an equity stake by POSCO following the BAM feasibility study.
Entering into 2023 we still have no BAM study, no binding off takes or qualification results.
Look, you should raise money when you can, not when you need it. But why raise an additional $70m when you already had already $70m in the bank? And just prior to releasing a BAM study that would surely attract investment?
Doesn't sit well with me. Apparently it is too accelerate the project (conveniently RNU can't say how). The project hasn't moved apart from the PEPR being granted and a bit of drilling. For sure they are working on the study behind the scenes, but the communication and clarity is starting to fall well below the mark with vague timelines of FID 2023 and no updates on the release of the BAM study or iff takes. No wonder the SP has taken a hit.
RNU is notororious for starting the year off strong with numerous price sensitive announcements coming in the first quarter, lets see if it happens again 2023 like it did in 2021 and 2022 but not holding my breath and i for one would sooner be making the most of the dip in lithium companies rather than here for the time being..
Add to My Watchlist
What is My Watchlist?
