When Marco Romero stepped down as a CEO, I contacted the company and asked why is he travelling around the world and specifically asked, if they were looking for another suitable ore resources. The answer was a bit evasive, saying he stays as an advisor with broad competences and finding new resources may or may not be one of the goals. One of the main points here is: shipping the ore from EU to CA has no viable economics and ESG. The FS is done for a factory in EU. Now we see the company securing land close to port and signing contracts to do DD. You dont need a port to ship the product, you need it to bring in the ore. The way I read this: they already have a good candidate ore resource(s)secured. And they intend to commence operations on both continents, using their advantage in know-how and use their experience with EU project to derisk the project in America… In other words, this has been envisioned a long time ago and the realization phase is beginning. Huge confidence on the side of EMN… All IMHO…
EMN Price at posting:
36.5¢ Sentiment: Buy Disclosure: Held
