Ann: Vulcan signs lithium supply agreement with Stellantis, page-31

GT3loui,
There was a slide in the latest presentation that detailed the thought process around buying the drilling equipment rather than engaging subcontractors. It stated:
"Drill rigs that can reach the deep geothermal reservoirs are in short supply in Germany. With Germany phasing out fossil fuels, rigs will likely be in short supply as there is a sharp increase in geothermal project development for heating".
"Vulcan has agreed to acquire two electric drill rigs, re-purposed from the oil and gas industry, which can reach the target depths required to reach the deep geothermal reservoir in the Upper Rhine Valley. Vulcan is developing its own in-house drilling unit, VERCANA, which will provide approximately 30 jobs locally. This will be a strategic asset, as decarbonisation efforts in Germany and Europe continue to accelerate , and demand for renewable heat increases."

Pretty smart in a strategic sense if you ask me! All of the noise from some posters questioning why you would spend so much money buying these drilling rigs is answered in two paragraphs.

Like you said, "the best way of doing things for the Company".