No chance. Clear GoG have no intention to sit before the election in 12 days. It's effectively a hung parliament. Let the polls decide.
My fear (theory) is that NDC will win convincingly and the agreement will again be scrutinised as they have been anti-ratification since the lease was approved by the minerals commission. They'll pick apart the tax laws and ask why a Hydroxide plant is not being built etc. This will obviously stretch well into the new year. I can see a lengthy delay and I feel Atlantic know this which is why they have raised $10m USD recently for "studies". Gives them the option to wait out any issues that arise which would also include the SYA/PLL merger. I have a strong feeling they won't proceed with funding as they have to focus on NAL synergies, can't afford to burn $120m USD in CAPEX after both merge co. have raised again. They wanted to fund the mine build with an offtake prepayment and then make no margin on-selling but have ownership in the project but with all the uncertainty surrounding I just can't see it eventuating. They have spent roughly $35m USD on Ewoyaa, is it worth throwing good money after bad money? NAL will decide the fate of merge co. not Ewoyaa.
Interesting that the Ewoyaa project took 1/62 slides in their investor presentation. Clearly low on the priority list, I can see an opportunity for MIIF / GoG to buy in for a larger portion of the mine (which is what they've wanted).
Very turbulent 6 months coming.
A11 Price at posting:
22.5¢ Sentiment: Sell Disclosure: Not Held
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