Firstly I think you do understand that EMH is just the minority holders and only the ones that are managing the Cinovec project, so any decisions have to be approved by CEZ. Once this is understood I think all your questions will be answered in regards to offtakes.
Secondly CEZ will need quite a bit of lithium for it's own projects and a possible JV with VW. So first CEZ has to make its calculations and tell everyone how much this amount is and whatever is left will be possibly negotiated with some other interesting parties.
Thirdly this is still a project that if everything will come our way without any delays, we are expected to produce around 2014. For the long term holders this is fine, for the impatient ones is quite a long time to wait. With the four quarterlies a year, some appendixes and maybe one substantial announcement, the share price will be very fluid and most probably will drag us downwards. If you believe in the project you have to see it as a good chance to top up.
Forth, let's see what will the DFS be all about, what prices for the lithium and Tin will be applied and how much we can scale up production.
Fifth, resources upgrade will help the SP rise back to the 1.70 levels. It is a very important step and will give us an idea of the real enormity of Cinovec.
Sixth, Pilot plant. If the process won't be tested through a pilot plant I don't see how we will advance to build a whole factory if you know what I mean.
Seventh point, environmental study, another important step in order to get the final mining permit.
Eight, the final mining permit.
Nine, the bankable study and get all the funds necessary to build everything with the least possible dilution for shareholders.
Ten, political situation and assurances that we don't get screwed again from any prime minister or president of the Czech republic.
You see there are quite a few things to go through until the first euro or dollar gets into our bank account.
So sit back, relax, have all your medical checkups once a year if you are over 50 and you want to see this to fruition, and cheers.
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