My thinking out loud. EUR is not a miner. By default and...

My thinking out loud. EUR is not a miner. By default and association CRML is not a miner. Neither are set up to be a miner. At this level you need a workforce of at least 200 and the ability to get more good people as you ramp up each mine. EUR and CRML are a 5 man show. Pretty well the same 5. And none of them have mined in the past (maybe they have, I don't know)

EUR's MO is to get a project and put it in a pretty dress, put a bit of lippy on it and sell it to a miner quickly for a reasonable quid. Not a Motza, just a quick reasonable figure. Walk away with a fist full of dollars and maybe a trail.

Tanbreez is flavour of the month. A bit messy because EUR owns 7.5%. This can be sold off. It is shovel ready. A miner would do a deal. CRML sells as does EUR. But that gets messy, governments don't like changing bikes mid-ride. Better a miner to take-over CRML. The easiest way is buy out EUR's share.

That gets messy as well because then they have too a big majority and may have to buy everyone out. Become private and lose the listing. Also a lot of upfront dollars that have to come out of existing revenue.

Better to buy a good majority of CRML(say 40-50% $US100M plus) and buyout EUR share and EUR with script (takeover). All EUR shareholders get paid out in CRML script, the white knight miner gets Tanbreez, Wolfsberg, Ukraine and Ireland as well as 50% of the processing in Saudi. And maintains the listing. Tanbreez is only 12 months from digging as is Wolfsberg and Ukraine will be fast-tracked once there is peace. CLE can be bartered out of the deal or sold down.

EUR shareholders avoid a tax problem, get a good return and have the liquidity to exit or stay for the ride.

This is the only logical solution and future that I can see now and I am setting up for this scenario.