Am not across this story the way I have been in the past, but if my memory serves me correctly, it is FID in the 1st Qtr 2020.
So if that is still the case then we would also be expecting some other news re finance, FEED, offtakes and more, before the end of the current Qtr.
I'm perfectly happy to be corrected if I have this wrong.
Something else that would do the SP no harm at all, would be an announcement regarding one or more of the CLQ water plants - which all have one thing in common - they are taking a hell of a long time to get going. Surely an announcement cannot be too far away now............In the meantime 2 other water techs: PET and FLC have left CLQ in the dust......so far, and they are able to do business in China.
View attachment 1762757This is a 15 month chart, the purple downtrend line began at the high of $1.78 on 3/11/17, so CLQ is clear of that wickedly descending............most of this years trading is confined within the parallel red channel - 39c down to 28.5c.
Trading has broken out of the channel above and below, but only briefly, with $80m at bank CLQ can't really go much lower than where has been already. Having said that, the financial markets are pretty tetchy right at the minute. The bots and their insto masters are fully in control and there is very little of what I would call conviction buying.
FWIW, I am still a believer because there has now been so much capital invested in the EV revolution - there is no turning back on that. The auto manufacturers are committed (globally) and have invested huge chunks of money to transition from ICE - there is also significant investment going into ADAS as well.
In the meantime though, just recently German manufacturing has been putting out their worst figures since the GFC.
However, I have become quite concerned about research I have come across regarding money markets in general and in particular the European Gov't Bond Market, which will have significant effect on the European banks. The low interest rate thing will eventually blow up and it won't be pretty.
Sounds pretty gloomy, and it is a complex conversation, so I just hope CLQ get the funding organized by early next year at latest and then get on with Sunrise, obviously that can't come soon enough for me.
Footnote. As some of you know I have been here for a while, for those that don't - mid 2014..... so, it has been an interesting ride, and yes, the sooner the FID, the better.
Go CLQ.
