They are, or at least indicated not committed. It's funny you say this because just about every Austrian I spoke with who are against Wolfsberg project, are wanting the mine to start back up asap but against foreign ownership and wonder why Austrian Govt allowed it or won't buy it back, to which I reply with "why don't you buy shares yourself?" they don't seem to respond well to that - they want to own but not spend on capex. In short have their cake and eat it too.
Everyone's waiting for CRMA when it comes to Europe critical minerals and another Act to pass. Currently EU is anti-mining and there are many red tapes. CRMA once becomes law opens that door for EU capital to invest in mining. That's at least part of the story.
Also.. It's best to look at this like Europea law makers do and with a long-term view. Europe's target is not year 2027, it is 2030. Some year 2032-2035. It is a 10yr trajectory as it ultimately changes their world forever, so they are taking extra care not to undermine their own anti-mining laws while at the same time allowing more mining. It's oxymoronic. But understandable because they really have no choice with the world moving towards electric future.. Europe's main industry and powerhouses are, afterall, automotive industry so are stuck between a rock and a hard place. Further complicated, Europeans doesn't like foreign ownership of their stuff.
So it's not a matter of "if" but "when" Wolfsberg project enters production. We are not wrong on that, however it's really only now many investors may feel they would have gained more from investing elsewhere for shorter period vesting... and that's fine. I was quite open to say since day 1, 2yrs ago that our vesting period is to end of 2026 before re-evaluation. Not everyone has the patience though. Also the Nasdaq listing didn't provide big capital either so the rerate looks like a bust and feels like one big disappointment. So yes, quite oversold if you ask me... but who knows what the market thinks, no one really does.
Truth be told no one cares what happens to Tony and plenty of interest out there that can take Wolfsberg project away from him/EUR. The Chinese in particular, will swipe it under his feet if he's not careful or if not enough support from Western capital. He doesn't really have anyone to trust and I don't blame him, everyone's in it for themselves - some here would even admit they'd rather a quick buck, sell the asset to China at a profit now even if at cheap heavily discounted price than wait another couple of years for a chance of multi bags.
Why do I say that? Happens every time. Even to PLS! Before PLS became what it is today, we all just let it slide to bankruptcy (almost) just so we can acquire shares for cheap. It didn't matter they were at production already simply hindered by lithium price and didn't have offtake yet. Retail on this website was making fun of them, and the capital raise despite oversubscribed because of an ever decreasing share price (look into it around me dog 2019 you will see the same toxic posts and name calling on PLS threads as what you are seeing now on EUR). It pulled up ok and most don't care about share price (we acquired at 20c-25c), our care is on dividends much like every other ASX listed companies. That's what ASX is best for - dividends. But to acquire more shares for cheap, means making the company desperate for cash before investing in them.. usually.
Anyway, enough with my boring stories. Just thought I'd share with you as you're new here and I've had conversation with you on other thread.
I don't think you'd be disappointed following EUR. It's a great story, it has its ups and downs, already showing great network web of deals and more to come, even if the share price is disappointing. Follow it (the company) lots of lessons to learn, including fancy accounting to what this particular announcement we are posting under is all about.
PS. Just so I don't have to open up another post, @rama77 thanks for the kind words. Hope you got in time for DXB too when. I tagged you a few months ago. Sorry it looks like more waiting for us on EUR though, not sure how it will play out post 60days but I have faith in Tony. Don't forget incremental profit takes! And exit strategy a must. I have a soft spot for EUR as you know and my longer term view in helping Ukraine post the war, whenever that may be, so it's not an easy one to compare to others where it's pure profit. Cheers
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