Ideally that would have not been needed to happen and we would have been duly-informed by CEZ/EMH/Geomet, however, looking at the announcement records and news feeds they are prioritising keeping the shareholders in the dark. I am still not at all convinced that CEZ will not just buy the wrotting bones of Geomet from EMH when it stifles/beats it down enough, despite all the talk about the shareholders agreement.
The news will look something like:
"CEZ put a record takeover bid to gain full project ownership of the Cinovec project from the minority holder Australian miner European Metals Holdings (49%). CEZ will pay 230% of the current share price to the eligible shareholders, the last traded share price of of European Metals Holdings (EMH) was reported as AUD $0.175 on 23 May 2024. This announcement has been endorsed for the release by the EMH BOD".
Hopefully not, but I still see no point as to why CEZ would retain EMH as a partner. Clearly keeping EMH's SHs happy is not a priority to CEZ, and the only job that EMH had (DFS delivery) in the current project development process has been a failure (2x delay notices amounting to impact of ~6-8 months to the project schedule, millions $ in cost overruns of the Consultant Team (DRA) and millions $ in cost overruns of the Owners Team (Geomet). Anyhow lets see what happens in the next 4-6 months, at this rate the (Xmas?) miracle of DFS is unlikely to actually be finished before the end of the Q2 2024.
EMH Price at posting:
43.5¢ Sentiment: Hold Disclosure: Held
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