CRMA is a huge deal. It is designed much like the IRA in the...

CRMA is a huge deal. It is designed much like the IRA in the U.S. and will open up capital investment into mining, as is often uttered "de-risk" with an all encompassing law that trumps EU countries own anti-mining laws and NIMBY attitudes. As a way to describe the events that will now follow - if Serbia was part of EU, no one would be able to stop Rio Tinto from developing lithium mine there no matter local opposition.

CRML aside, EUR also has Greenland rare earth project and recently acquired (in mining time so it's "recent" ) other Austrian permits for lithium exploration. CRMA means, not only zone 2 but the others can start drilling program as soon as 2H 2024 without the hassles and reason of delays caused before. The previous perceptions "good luck getting a mine up and running in Europe" that "impossible" and "your investment is best elsewhere" sentiment, it may take time but that's fully stopped and will do a U-turn.

Europe however is slow, so who knows. Everything is new. Creating new supply chains takes time, then to add Europe's slowness. CRMA was supposed to become law in Dec 2023 (for example) it's 3 months late... and many are still unhappy with end result and want changes to it.

CRML's board of directors except Carolyn don't have CRML shares, at least not yet. Their shares are EUR shares, which own just over 80%. So their interest is the appreciation in value of EUR, not necessarily CRML albeit via CRML progress.

It's probably also worth mentioning it's entirely possible to increase EUR's CRML shareholding via CRML's acquisition of other EUR assets... but I doubt EUR would ever let go of assets in Ukraine.

Here's hoping the likes of AusSuper and Macquarie see the value of adding EUR into their portfolios for exposure into EU's emerging critical metals supply chain via CRMA law.

In my opinion, it's really only come down to funding now, which I hope we get an even better deal than per announced term sheet with the Saudis' Industrial Development Fund, and I hope we get to see the Kingdom's Ministers part of the announcement when it does. It would put EIB to shame. Cheers