I got that impression as well, but I had to remind myself that he was also very optimistic about securing a partner in H2 2024—and that never materialised. So, any confidence in his latest prediction doesn’t hold much weight for me.
There’s nothing fraudulent about him sharing what he believes might happen, but the reality is that he doesn’t know, and neither do we. The only people who do know are the board members of the potential strategic partner, who may well be getting cold feet over the ever escalating tariffs from the USA, particularly if they're part of the integrated supply chain on the border.
CE's job is to present the situation in the best possible light, so he’s never going to admit he’s unsure, lacking confidence, or that things aren’t going well. Even the worst lithium companies out there constantly claim they’re close to landing a partner—it’s just part of the game to keep shareholders engaged. That doesn’t make it intentionally dishonest, but as investors, we need to take it with a grain of salt.
A better indicator is what the board does, not what they say. None of them are buying at multi-year lows, which isn’t a good sign. CE was buying on-market right in the middle of the Renard negotiations, so if he’s not buying now—or at least participating in the SPP to restore some investor confidence—that speaks volumes about where things really stand.
WR1 Price at posting:
27.0¢ Sentiment: Hold Disclosure: Held
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