Wouldn't be so sure about that. The EU (and US/Canada) sourcing...

Wouldn't be so sure about that. The EU (and US/Canada) sourcing requirements will make it such that OEMs will be "forced" into purchasing EMN's material. These rules will also create a different market (and therefore price) for premium ESG and EU/US-compliant material vs China. In relation to the IRA EV tax credit, reaching the price floor required for the EMN project to be economically viable (c. 1700 to 2000+ $/t HPMSM) only takes c.10$ out of the 3000$ to 7500$ subsidy per vehicle (i.e. no brainer for OEMs to be compliant). Above all, Orion's (private) substantial capital contribution is a testament to "smart" money's understanding of these key underlying dynamics that will make it such that this project can likely see the day (which leaves management as the main driver of success at this point, in which I have full confidence - Matt is an absolute killer IMO). Not even mentioning the policy and financing support network brought by the Minerals Security Partnership (MSP). DYOR