Well, I finally had some time to look at the VMM announcement, and found a few more nuggets of info.
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For our capital situation, I was happy to see the Brazilian funding can be used for working capital.
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A decent cash injection into the company for working capital is vitally needed to keep the company moving, and have the gears of production turning, during the day to day running of the company.
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I have always been worried about our cash position, with good reason, but it finally seems we are getting out of this funk of continually scrounging for money.
We are not completely out of the woods yet, but it is is looking solid....a lot more than it has looked for a long, long time.
Factor in UK funding in the near future, and we are looking at cementing our future toward commercialisation.
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And this is just round 1 of the Brazilian funding.
A second round started in February, and by all accounts, we are on track to pick up funding from that package as well.
This may come as soon as next month.
And as per the announcement, we have qualified for this second funding package, specifically due to IXR's refining technology.
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I don't want to throw any specific figures around, but I will say it will definitely be in the tens of millions
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Hurry up UK...hurry up....nothing like competitive tension to hurry things up....
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With Viridis doing the heavy lifting in Brazil, and the Viridion JV being vertically integrated, we are on the ground floor with the Brazilian government, and will indeed be part of their grand plans, to grow Brazil into a Rare Earth super power.
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Make no mistake, this is exactly what the Brazilians are trying to do...and we will be a big part of that.
And from our announcement-
Viridion also holds exclusive rights in Brazil to monetise, implement and commercialise Ionic
Technologies’ magnet recycling. This grants Viridion rights to exclusively commercialise separation
technology for other REE producers, with an initial focus on partnering with existing Brazilian rare
earth projects before expanding the technology globally.
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Refining, refining, refining......this is the key. And when we are not operating our own refinery, we will be licensing ourtech to other REE producers in Brazil....exclusive rights...bloody beautiful...
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As For Our resident downrampers, who disrespected our REOs from Belfast heading down to Brazil...well....that was the validation and the catalyst, to propel us to receive tens of millions of dollars government money. Sorry to disappoint you lads....
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But more importantly, the relationship and the trust we are forging with the Brazilian government, well, that is priceless.
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This relationship and trust, will draw interest from the UK, it will draw interest from the US and it will draw interest from Japan/Korea and broader Asia.
This announcement has certainly made waves, and I hear the interest is pouring in....
So hold onto your hats ladies and gentleman, as we have said previously, the back half of 2025 should be one hell of a ride!
Good luck everyone...
(20min delay)