Hi
@TechSpec00 disappointed at ASX as you can appreciate but more annoyed, such is the market, you never really know sentiment and confidence except day to day. Things could easily fall as easily as they rise. Yes I know, you told me so, I just had better faith I guess.
You're right and I know it, that's why I've defended you a few times now. Although I did say let's have this chat later, the market still has a lot of digesting to do but I guess we've been having that chat now (this week).
I pointed to the 500M CRML shares approved that can be issued, in time. Of course there's no limit really but this is what we have currently and therefore forecast. And I'm saying this to you out loud despite knowing you're very aware of it really for the broader audience.
Next couple of months will be worth the watch, nothing changes the fact this is a pioneering deal. No one really knows how to judge a SPAC merger with a mining company and uses tech as baseline, which we both know that's wrong as mining has economic studies while tech are finger in the air, how much are websites worth? Yet websites are deemed more valuable than a gold mine.
Noted and agree re 100M at $5, ducks are lined up for that issuance of shares - I point again at the expiry of 60 days grace period (for those who do not understand SPAC mergers the company is not allowed to issue new shares until after 60 days). Whether for $1, $3, $5, $10 or $20 would depend on Nasdaq market price. GEM's $125M is already locked per contract but obviously no need to draw down on that unless really required (obviously the higher the price per share the better) and there is every incentive to keep CRML share price between $15-$20.
So other than ability to sell shares for $5 a pop, what are the other activities to unlock value until then if to keep CRML price trading above $11.50? Updates DFS, securing land and funding for hydroxide plant with announcement together with BMW and Obeikan (if possible), Zone2 drillings to double JORC resource and LOM, CRMA and corresponding EIA completion (they haven't submitted data and I think they should asap request expedited later post CRMA), and EIB funding (although even VUL didn't get much love from ASX despite securing $825M - which we are constantly led to believe ASX market simply doesn't trust Europeans would allow mining).
People are quick to forget "the market" is always late to the fact. A reminder, everyone was aware of the GFC but the market was late to react. Literally the day before the crash everyone was reporting "all time high" despite months of warning, then the crash and everyone acted surprised. So excuse my cynicism when others utter "the market says..." when it's contrary to the fact.
Glad we've moved Wolfsberg project to Nasdaq. Here's hoping EUR can sell up all other assets to CRML too.
I'm well aware the risk of being bought out, and I'm glad Tony alluded to it. Perhaps then "the market" would understand, in cash, just how much EUR is really worth.
Ah well, let's see what the next few weeks brings. It's still exciting for me all in all, despite the disappointment of today.
(20min delay)