@tsibis The link below has some details on the CEZ transaction...

@tsibis The link below has some details on the CEZ transaction that might be worth re-reading, notable to me is the two checkpoints at which CEZ may (unlikely) pull out and ask for their money back (minus costs and a fee) which we no longer have at hand.

https://www.europeanmet.com/wp-content/uploads/20200327-AIM-Final-Agreement-with-CEZ.pdf

EMH received about €30M for the controlling 51% of Geomet in the transaction. For Europes largest lithium deposit.

And this was nearly FOUR years ago now!!
it was supposed to see us through to the production runway.
LOL

The monies received from CEZ to my understading have majority been spent on engaging SMS group and DRS Global for the FEED and DFS respectively.

Oh and our coffers have also gone on wages, third party payments and the like.

Keith has had a substantial increase in his renumeration over the years and the last annual report has him on ~$725,000.

Amzingly good wicket to be on IMO, given the glacial pace and constantly missed timelines. It’s comparable to dividend paying ASX300 stocks with market caps many multiples of ours.

At this point, EMH has enough money to keep the lights on until about mid2024. We had less than 3 quarters of funding left according to the last quarterly report.

Word on the street in West Perth is that we WILL NOT be seeing the DFS before Christmas. What a surprise

The responsibility sits 100% with KC on this.
There will be no accountability as per usual.

For this reason I’ll be voting against his re-election and hope others do the same which has been discussed already.

I am under no illusion that he will be overwhelmingly voted back in with the support of other directors and major SH’s but I’m keen to vote as I see things.

I remember being at the AGM last time he was up for re-election and pretty much none of what he said would arrive has actually been delivered.

Yet some people want to applaud not being diluted and happily accept the slippage, year after year.

Me? I’ve sold half my holdings over time thanks to the missed timelines and will probably exit completely early in 2024.

Hope to see some of you at the AGM (Dec 22 is a real F you to those who want to attend) but I’ve been to enough of them since 2017 to know it’ll be poorly numbered with almost nobody asking the hard questions or holding management to account.

Would rather be congratulating management on delivering a key milestone, let’s see …