Here's a screenshot. As I keep reminding everyone, the...

Here's a screenshot. As I keep reminding everyone, the market value of EUR should be seen from market capitalisation of CRML not share price. Currently EUR owns over 80% with pro forma enterprise value of 750M but the moment the lockout period ends and CRML is able to issue and sell shares, it would mean dilution. EUR may end up with 50% ownership but at 1.5B market cap, still remains 750M of value (for arguments sake). This is what I think the general retail market doesn't fully grasp, which you have touched on with your posts, rightly, but lacking info such as this decision of 500M shares. Your analysis is not wrong per se but not fully right... and there is the aspect of market uncertainties, confidence and sentiment, no one can predict.

Vesting period should remain to end of 2026, as I've made aware this is our vesting period, before we can realistically re-assess unlocked value by then and therefore share price.

Ultimately and for transparency, I am looking for $2B+ valuation of EUR as part of our exit strategy, as this itself is roughly Tony's strategy towards acquisition. It's not a matter of "if" but "when".

Better to discuss forward-looking, once market settles both CRML and EUR market capitalisation within normal volatility. ASX in particular, investors don't have experience how to value SPAC merger and on mining pubco, so would look at how the U.S. market values CRML (this doesn't happen overnight). I expect a surge in trading until the market finds balance. I wouldn't have a clue at where and when that will be, no one would, and that for me is part of the excitement because it's new. It would be interesting to find out and it would base other companies positions/decisions if looking to raise capital from US market.

Sidenote: BMO Global Metals, Mining and Critical Minerals conference just finished, 25-28 Feb. Same conference Tony has been attending to get a Nasdaq listing. I'm told it's busier than ever. Participants are inundated by investors interest. I suspect, this is one of the reasons why fast track of CRML Nasdaq IPO. I'm keen to discuss further with you and everyone... but once we have general understanding of broader market sentiment and confidence. Cheers