Based on my research, I am guessing the potential Japanese partner for Kwinana refinery project could be through the holding company, Summit Southern Cross Power Holdings PTY,LTD which is based in Sydney where our mine is and this company is jointly owned by Sumitomo Australia and Sumitomo Corporation
Sumitomo owns 50 percent of the Kwinana power plant in Western Australia
Funding could possibly come from Sumitomo/Mitsui banking Corporation
In my humble opinion, it does make perfect sense for Sumitomo to have a piece of our company as it tries to boost its Nickel,Cobalt, aluminum cathode business that is used in lithium ion battery
I have a decent position with an entry point at 31 cents as I am expecting based on recent price action that we will hear soonish about partnership agreement ( equity or offtake) with Japanese entity as per previous company’s announcement
Technically, the chart looks great, but the question remains what would be the reasonable share price tag up on announcement, my guess around 80 cents
The potential explosion in electric car sales is evident by all record high in sales from recent Tesla announcement
we have to remind ourselves that Sumitomo supplies panasonic with Nickel, Cobalt, aluminum Cathode and Panasonic supplies Tesla with lithium ion batteries
I am expecting this moth more money coming from our government ( the installment from previously announced $15 m grant)
let see if my guess is right or not
This is my speculative thoughts and not an investment advice, so please do your own research
Cheers,Sydney
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