I guess the most important lesson for me, and I guess for everyone on this forum is to
NEVER INVEST IN EUROPEAN PROJECTS - THEY WILL NEVER GET FUNDED!
ofcourse we knew this before investing but we were made to believe Europe will have no other option but to back the project...It just hasn't materialized.
There's no company without investors and funding.. and it looks like EUR and CRML will also end up like the hundreds of failed mining projects in Europe.
BMW and Obeikan both knew the risks. They probably knew this will never see the light of day... which is why they never committed a single dollar towards getting the mine to production. All of their commitments were with the caveat that the mine is in production. BMW committing to offtakes and Obeikan committing to fund a downstream hydroxide plant.
That was the cue for us retails to run for the exits. We missed it!
General Discussion, page-1098
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