In simplified terms, there are only really two things holding back Wolfsberg being mined again: 1) European mining rules and process; 2) funding.
Do you think funding would be so hard if only Europe didn't have the most difficult in the world of all mining red tapes? I don't think so. Europe complains about American IRA, late to respond with CRMA and even then simply announced not even yet law, and even with CRMA it remains bungled with so many environmental rules and hurdles - do you really think it could compete with Net Zero and IRA? Let's just say there's a reason why even European capital including from European OEMs are flooding North America right now, NOT EU itself. Why? Because of Europeans like yourself. Blame the company for all intents and purposes but if your mayor, for example, says no, no matter how much jobs are being lost moving to the US then you complain about not having enough jobs, it is not the company's fault that EU no longer has the expertise and talents.
Where is BMW money? Really!? You should know better that fund is specifically for the construction of the mine, why does CRML need it straight away? When the company can't get past European NIMBY attitude despite at Federal level, Austria is in language supportive of the mine construction. When the need comes to start spending on capex to build the mine then that's when you'll see BMW give it. Why don't you and your buddies at derstandard call BMW (again) and confirm that they indeed signed a binding long-term offtake agreement with EUR, now under CRML.
If Wolfsberg project was in any other jurisdiction, say Brazil, Australia, Canada it would have been in production long ago and ongoing zone 2 to extend mine of life by now.
Ask any fund manager, please, so it doesn't have to come from me. The number one reason why they wouldn't invest in Wolfsberg project. They'll tell you simply: "It's because it's in Europe." Let me translate that in Aussie, "Mine in Europe? You're joking mate."
Hence we're in Nasdaq.
EUR Price at posting:
6.1¢ Sentiment: Hold Disclosure: Held
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