Fair sentiment.In my eyes however, we've not sold an...

Fair sentiment.

In my eyes however, we've not sold an asset... yet. Simply converted it into shares.

If to sell asset, in just one year's time from now EUR can decide to sell, for arguments sake 20M CRML shares $10/share and issue unfranked dividends, that would be approx AUD 20c per share. Assume you have 5M shares, that's AUD1M.

Not saying it will happen, just for arguments sake. It's entirely possible. And if that were the case, what's the market willing to pay for EUR shares for 20c unfranked dividends?

Many things can happen next quarter, let alone one year, so who knows. CRML could as easily tank to $1 as it could easily rise to $50 USD. Can ASX investors and traders really afford to ignore EUR's CRML shares, if it was to rise as well as equally if it was to fall?

By now I'm sure you're aware that our investment strategy with vesting period to 2H 2026 before re-evaluation, have many reasons behind it. For us, it's not as simply as what the share price is doing but a bigger, regional perspective including what can't be said because Ukraine is under martial law.

Here's hoping that when EUR does re-rate, the first days are clear signs for entry for everyone else. For us it wouldn't matter as that's the risk/reward we signed up for since 5c entry almost 2yrs ago. We have price targets so yes, in my eyes our parcel of shares are millions worth, when that would be in share price, that's something no one including me would really know.

Right now I'm excited about the hydroxide plant deal - they're not easy to negotiate, it's a test of Tony's skills frankly. Personally I'd use Qatar Govt showing interest as leverage in those dinner meetings... let's see if Tony brings it home.