Ann: EMN Corporate Presentation May 2022, page-8

I think building a high purity metal processing factory takes a while, especially if you are sitting in a populated area of EU jurisdiction - this is not central Australia They need to provide the pilot results and secure finance, before they start. Moreover, they have a Chinese manufacturer, which brings a little uncertainty in timing due to Covid situation. I think they go with a pretty realistic scenario.

Overall, it looks like they are going to move during the next two quarters - very much worth waiting IMO. Averaged up significantly at 0.34, 0.305 and 0.28, ready to gobble up more if this crazy market chooses to push it even lower.