Ann: E25 and General Motors Sign Offtake & Funding Agreements, page-61

Manganese ore sector itself is struggling. Check out OMH chart…

IMO many haven’t distinguished between E25s ore and HPMSM goals….it’s always been about the HPMSM for JB. The Ore business has been a side thing initiated for peanuts in order to keep dilution low till the HPMSM is up and running…has unfortunately cost them and SHs over the past year.

As much as he’s suffered with getting the ore business to nameplate, he’s kept ahead of the HPMSM market by some degree. The product he’s come up with has won over OEMs the like of GM…no mean feat.

Now that GM and fingers crossed Stellantis are on board plus one further OT, his vision for HPMSM looks to be coming together. I still believe we should begin to see the SP gain traction from this period onwards…there’s no other ASX company out there as far as I can see signing OTs for HPMSM?

It’s about low dilution for JB as this latest deal with GM reflects. $120 million Aussie and no shares issued is quite staggering. At days end following the deal, we still stand at 152m shares.

Imo he’s had tunnel vision on getting HPMSM to this stage for so long he’s pissed off SHs simply wanting to see nameplate. Definitely needs to better educate shareholders on each side of the business and increase engagement. There’s too little provided on the ore side even if it is a side business.

Anyways, that’s my rant. Still believe this selling is SIs selling before June 30 or pissed off for previous CR. A kick in the guts for now but will turn shortly and we should have a run in SP in line with these announcements.

Till next week GLTA suffering SHs.