BMW OT agreement was good news.. but it still didn’t answer the key question the market has always had.
The JV with Obeikan was good news.. but it still didn’t answer the key question the market has always had.
Will EUR be able to drum up the necessary interest to take the mine to production? Tony & Co. believed the offtake with BMW will help attract investments globally.
When that didn’t happen, Tony decided to list on the NASDAQ as an attempt to raise the required funding. This was great news because companies don’t list on the NASDAQ unless they know for certain that they will raise the necessary funds.
So, when EUR announced Wolfsberg will be divested into CRML and listed on NASDAQ, we all assumed that it will deliver what the market has long waited for - FUNDING!
That was the final piece of the development Jigsaw. Raise funds, develop the mine.. develop the Hydroxide plant.. mine the ore.. ship to Saudi Arabia for processing.. BMW purchases the end product.. everyone makes money.. everyone is happy!
Except the listing failed to attract ANY interest.
NOT ONE SINGLE INVESTMENT.
That’s the reason why I believe this project is dead. Unless maybe miraculously Tony & Co. find a US$200M investment from somewhere!
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