DJG,
EMH and the Interim Government have now said as much as they can to try to satisfy a nervous market.
In his recent interview the minister reiterated that 'it is a purely political. Otherwise, it's simple. The one who conducts the survey, which is in this for three years, Geomet, now owned by an Australian company, is now valid of the Upper Law, the pre-emptive right to apply at five different levels for the determination of the mining space and then mining permits. The Memorandum has little to do with it',
He even states that now that the the MoU has been declared invalid (note not cancelled) we can now get on with it:
'I am convinced that we are once and for all with a declaration of invalidity in the case of the suspicious memorandum and began to deal with the extraction of strategic raw materials in the spirit of the government's program statement'
EMH have issued a statement that:
'All Company rights are derived from the current Czech legal system, notably the Geological and Mining Act, not the MoU. Any termination of the MoU would not in any way affect the exploration rights of the Company or the Company’s tenure over its exploration permits and the Company continues to progress the project with ongoing metallurgical testwork, discussions with offtakers and preparations for feasibility drilling underway.
The Company remains entirely focused on working with all stakeholders, including the Minister of Industry of Trade and the Government of the Czech Republic, to successfully develop the Cinovec Project as a first-in-kind project that will pave the way for a successful lithium mining and processing industry in the Czech Republic. We look forward to meeting with the Minister in the near term to further these discussions. '
The point is that both parties cannot say any more in the current political arena. Babis is trying to form a Government. Until that happens (or otherwise), there will not be any official announcement from either party
The Government won't give an update as Babis needs the support of the communists ( even if forming a coalition with the CSSD, which looks likely). And he doesn't want to lose face before the Government is formed.
EMH won't update on the issue as they don't want to 'rock the boat'. Instead they are carrying on with the DFS behind the scenes.
Instead we gleen information from various articles and interviews. This is what the market doesn't understand at the moment, but how many clues does it need? At least it is an opportunity to those that do!
Also regarding your point on large corporates dealing with us, I have been reliably informed that those Offtakers we are in discussions with are only concerned with the legal status of our licenses which remain unaffected.
They have obviously picked up on the clues and understand the situation more than the market currently does!
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