It's all down to timing.

Something major has to happen very soon. CLE has been stabilized for now. There is a rights issue underway and the raising is underwritten. We survive for now but we need big dollars to carry forward. There are a couple of points that bear considering. EUR is our largest shareholder. EUR also has a loan due next month. EUR can take part in the rights issue. EUR can do a deal to take script for the loan repayment.

Personally, I do not believe that EUR will take up the rights issue or exchange the loan for script. Basically, EUR is short of funds. They have to take the cash to be transparent. CLE is cleaning up house. CLE have to wash their dirty linen and hang it out. They have to pull the skeletons out of the closet and own up to having had them. So, we have to repay the loans. We also face the risk of EUR having to sell down their share holding. RM is doing the housekeeping. RM is giving the orders and TS has to perform.

Regardless, the future of CLE, EUR and CRML is imminent. I believe TS ran over a black cat and he picked it up and put it in a bag. Soon he has to let the cat out of the bag. It will either be alive and well, or be a rotting mess. TS has had that much bad luck lately that something has to go right sometime soon. With Glory, the original deal was a shocker, then covid sucked any life out of the deal. Wolfsburg was never a real goer, it is plan B. Ukraine lithium projects would have been plan A. Russia killed that plan and Wolfsburg was substituted. The SPAC deal was a stroke of genius but has suffered due to several factors out of TS control. These include the Ukraine war and the downturn in lithium. The redtape delays, the Glory troubles and the withdrawal of founding funds along with the long escrow period has not helped any.

CLE is looking great, provided the BOD can hold its position. EUR is precarious. It has to rely on something from CRML or CLE. Either or both of these need to step up in a major way. CLE has to get a JV partner very soon. This was originally scheduled for this quarter, it now pushed out 12 months. When asking about this at the AGM, we got fudgy answers. My belief is that they do have a potential JV partner but need to still jump through the hoops. Announce a good deal and the CLE share price has to jump, EUR can get a great payday and live another day.

CRML on the other hand has captured Tanbreez. Whilst it may have everyone running from Wolfsburg, Tanbreez has the potential to surprise. But this has to be fast-tracked. Major investment has to flow into CRML fast. That will get EUR cashed up quick which in turn have EUR take up the rights issue and maybe forego the repayment for script.

Time is main player here. Pressured time can be a friend, it can also be a very bad enemy. Will time be good to TS and give us all a payday? CLE should have its JV by July 2025. Can it be sooner?