Thank you Fingers. Do note though that realistically it takes minimum six months to negotiate and draft these types of contracts. I'm being optimistic to believe the October 2022 deadline (2 months duration) from Anthony, who has a habit of consistently missing deadlines (he's a sales guy so I suppose it suits his chairmanship). Note I used his first name. Although I'm more assured this time around as Mr. Wanke mentioned BMW is keen to ink a deal quickly, and the customer is always right. But it still takes time as other than schedule and cost, the contract must address effort, duration, dependencies, risks and terms such as is it for 3,4,or5 etc duration and is it reviewed renewable for 1,2or3 years... etc. Further to the recent market pivot from fixed price to now T&M. It's not easy but certainly not the first or the last. Made even more complicated by the hydroxide plant, and potential BMW investment, should they decide to partake in the funding round, similar to Stellantis equity investment with VUL (which would be a welcomed turn of events and I'd be more than happy for offtake contract delay if this was the case - or fully amazed and in awe if a deal is done inclusive of this by end of October).
Optimistic but a good dose of realistic expectations.
Lastly, I'm not one to invest and sit idly by should risk materialise and become issues. And I'm 100% neither are other investors I know who also invested in European Lithium.
I'm a patient person. You really have to be in the mining industry, it's not a get rich quick scheme - digging TONNES of rocks and dirt off the ground doesn't happen overnight. But patience is often than not, rewarded handsomely!
PS. As a Livent shareholder, I was well aware of BMW movements in North America since June/July 2020. Ganfeng people were a bit aggressive as I recall and played dirty. It was quite an awakening for BMW.
Expand
(20min delay)