Na mate, Barrambie was supposed to be spun out, meaning shareholders would get free shares & a project to shares profits in. A flat out sale nets shareholders nothing, but gives the BOD & management more money to wipe their backsides with.
Spargos came out of left field & I think it was used to spur on new investor interest. But they didn't find any lithium & NMT doesn't want a nickel project. If they did, they wouldn't have dumped WIN shares.
Lithium chemicals in final stages? It's at the pilot plant stage. It was supposed to be finished in 2023. They need to build a commercial scale plant next. Where are the offtake customers? The feedstock to run through this imaginary plant? Financing? That project is years away & the lithium price has to recover first, other producers can't sell their products. How is NMT going to sell theirs?
VRP should be making NMT shareholders rich, not giving it away for another "cents on the dollar" sale, just to net some royalties.
MB will take their time.
This is what $200M dollars buys us? 2 dead projects, 2 projects on life support, spruiking some new R&D projects (which I assume will need funding) & the same old rubbish about MB & Stelco?
I'm hoping for more agressive austerity measures over the next 6 months. I think Spargos would be easier to off load than a titanium mine that's been on the books for 20 years, someone would have come knocking during that time.
NMT Price at posting:
11.0¢ Sentiment: Hold Disclosure: Held
