Reading all the discussions, there are truth to it. The question...

Reading all the discussions, there are truth to it. The question is, is there appetite for EUR shares at market? The answer is, it depends how CRML performs at Nasdaq. So let me break it down a tiny bit further.

Upon listing at Nasdaq, institutional investors will acquire. That's not a matter of "if" as some has rightly pointed out, many such as mining ETFs, "green" companies etc will need to add CRML in their portfolio. This in addition to fund managers looking to include the sector serving the European market in the future.

Just as this happens in the U.S., similarly it will happen with EUR. Superannuation funds, banks etc must at bare minimum provide price guidance on EUR post Nasdaq listing if not invest as well.

What appears to confuse investors here is how this all makes sense. I feel it is because you are looking at this from an early company perspective. So try not to look at it when in the past the company was mostly targeting retail investors. It's well past that. Post DFS, it's now the big funds turn. This is why Nasdaq is important because, amongst other reasons such as the market we are serving is not what a usual Aussie mine would serve (Asia) the billion dollar capital required for such things can't come from retail any more, and was not forthcoming from Australian capital. Instead the Saudis, BMW and SZZL want the cake.

If EUR shareholders are happy to sell at less than 30c per share despite CRML trading at, say $11 per share, for arguments sake then that's perfectly normal. But I really doubt anyone in their right mind, except perhaps desperation, to sell at 30c if they can sell at 80c. Plenty would be happy to snapped it off your hands if you're willing to sell at 30c despite CRML trading at $11 or more, including myself.

Nasdaq will value Wolfsberg project very highly, as fund managers especially on Nasdaq don't care much about share price today but how much they can sell the shares in the future. Who cares if it tanks 50 or 80% over year when it ends up the same $20 per share price at the end of their vesting period in 5yrs, is the thinking.

Similarly, how ASX follows, not always but almost always, the US market, it does the same on micro level - individual stocks. Foreign banks investing on ASX would have less work to do and can more easily value EUR based on CRML and acquire/have a position. Fund managers these days are lazy especially Aussies or those operating/investing on Aussie markets. They would rather Google search than go on extended travels to diligence multiple assets that their clients may be interested investing in. Forgetting, or perhaps not enough experience, mining assets are physical unlike tech assets, every dollar to see physical assets overseas are worth the spend. So NASDAQ's plethora of companies who must not fully diligence the assets and therefore market value of stock, ASX funds will have easy access to and price EUR as such.

Australia is a follower of US sentiment and confidence. Probably don't like admitting it but it's fact. Tony was wise to find capital elsewhere and not Australia, which BMW, Obeikan and SZZL investors have binding commitments- they are not stupid to value EUR assets the way they did.

Further, Wolfsberg project may be the star of the EUR show but let's not forget the other assets. They are lOM extenders. Future forecasts, are not something Nasdaq ignores unlike here on ASX.

I hope this gives a little more insight into how these usually play out. Tony made the right judgment and decision, the funds to unlock these mines' value is best obtained from the Atlantic... and THAT was one of my major reasons when I started investing (with a long term view also that the price over the years during the vesting period means f* all if at the time I plan to sell would end up at my forecast or close to it anyway no matter what happens inside those years, which is really impossible to predict in the first place).