This is a great stock to own. What is not clear to me is the...

This is a great stock to own. What is not clear to me is the extent European recession will have on stocks like NMT and any info from the better informed here will be appreciated. On one hand there is a clear push for battery powered transport (just one aspect) needing recycling options. But the conditions currently in Europe are quite harsh for a pre-revenue company to establish itself. Debt is becoming very expensive. Euro is crashing with respect to Dollar. Germany is sure to enter recession this quarter. There has been Covid, a war and now drought affecting all of Europe. There was not enough water in the Rhine river for industrial transport. The cost of power in Europe just went up five fold. No industry can ever profit if the cost of wholesale electricity rockets to a 1000 Eur from 200 Eur per MWh. Come winter it looks like there will be rationing of electricity away from Industries to household just for heating. German residents are already paying 30% more for their share of electricity. The push to 100% EVs will invariably take place but not the priority right now and the markets are considering this. It is a tragedy that Germany is resorting to using Coal for Thermal power. They are desperate now for new LNG supplies. It is clear that they were overambitious with the renewable energy transition without having any kind of back up. Buying half the LNG needs from Russia cannot be a back up plan. So the renewables are not an option at the moment (the ideal renewable installation capacity should be 6 times the average of what is required and Germany is nowhere near there yet). European Central Bank has not yet increased interest rates (may be wrong, have to check) but if they take cue from the American Fed, they will. How will this affect companies which want to borrow money from the banks? This is a high quality stock to own, the management have done everything right but the macroeconomic headwinds are not in their favor. Things are not rosy in North America either. Looks like it will be quite some time before these are sorted out. Under these circumstances delays are normal and to be honest the management deserves respect for sticking to their plan despite adverse conditions. My somewhat negative sentiment is not about NMT as a company but just how the macro affects it and the same applies to every single stock having a base in Europe.

Disclosure: I am currently out of NMT entirely due to personal reasons. It was a painful decision. Will be buying back slowly and possibly should hurry if the waves described in the chart thread hold.