I agree @sqe that it's strange to not have a pilot plant. Going...

I agree @sqe that it's strange to not have a pilot plant. Going back to Hooper's report, it includes this simplistic 4 year old chart:


Also this uninspiring sentence describing work from 5 years ago, clearly not keeping up with the times:

Ongoing test work on (magnetic) zinnwaldite concentrates in 2016 successfully producedbattery-grade lithium carbonate using well-established sodium sulphate roast and leachingprocess with overall lithium recoveries of 77%.
https://www.europeanmet.com/wp-content/uploads/EMH-Feb-Report-2021-FD.pdf

Tellingly, after 14 pages covering the company, Hooper spends the next 7 pages on industry macros. Given that this report is 9 months old, without more recent coverage by their regular research houses Shard, Ireland or Patersons, it feels like EMH are hiding something. Have they realised their process isn't viable, given the EC's new battery laws and carbon pricing, so are switching to Plan B? Perhaps just sending their ore off to someone else?

I looked up their (anonymous in their email to you) "external consultant." It rang a bell this afternoon, but I couldn't place it. In August of last year Dusseldorf-based SMS Group and ASX listed Neometals formed a 50/50 JV, called Primobius GmbH to commercialise lithium-ion battery recycling technology. Then in November 2020, Primobius signed an MOU with Slovakian battery manufacturer InoBat to operate a recycling facility in Eastern Europe.

InoBat aims to accelerate the rapid implementation ofelectro-mobility solutions in Europe by developing afully integrated value chain, which will increase theglobal competitiveness of the European economy andprovide a long-term sustainable solution to theautomotive market. InoBat is building a ‘gigafactory’with 10 gw/hr capacity by 2024. It is anticipated thatthe company will produce 50,000 tons p.a. of newbatteries after its full commercial start (expected in2024).

https://www.sms-group.com/press-media/press-releases/press-detail/primobius-enters-into-mou-with-inobat-to-operate-a-commercial-lithium-ion-battery-recycling-facility-in-eastern-europe-1543

Ha. I just searched "InoBat offtake agreements" and an article from 20 November 2019 came up announcing Cez's intention to purchase 51% of Cinovec, plus this:

Cez intends to develop energy storage and battery manufacturing projects, and in July signed an initial deal with Slovak business accelerator InoBat to explore the development of energy storage projects in the Czech Republic and central Europe.

Cez's involvement in the battery industry is expected to assist in securing offtake agreements for the Cinovec project.
https://www.argusmedia.com/en/news/2019346-cez-looks-to-buy-european-lithium-stake

Flipping through EMH's light and fluffy 29 October 2021 quarterly just now, there's not a peep of any of this included. Gotta love the internet.