Ann: Binding Offtake Agreement Signed with Volkswagen Group, page-59

I rate the symbolism of this binding offtake agreement more valuable than its future tonnage.

To finally have an iconic German brand, Volkswagen Group no less, associated with Vulcan will IMO assist greatly with community acceptance. I do wonder how much VUL backlash has come from simple parochialism. With direct German benefit from geothermal sourced lithium it may soften community resistance. Perhaps word association with this auto manufacturer during community engagement sessions may sway some citizens.

Even with final decisions made above the municipal level, an ESG focussed organisation like VUL would be committed to community consultation. The fact that they put it on hold for a while shows respect for the process. I would love to hear if this view has any merit from our German contributors here on HC.

Finally, this statement is the exciting one for me…. “Volkswagen Group and Vulcan have also agreed to a first right of refusal to invest in additional capacity in the Zero Carbon Lithium™ Project……”.

You would have to expect a positive response by the market tomorrow but for me the demonstration plant outcomes next year are what I’m waiting for.