Hi HP."Is CM lending money from the board?"I think there have...

Hi HP.

"Is CM lending money from the board?"

I think there have been some loans made to them in the past.

"Are CM still able to continue the JV with RIL and if not where does that leave RIL with the licence rights in the Nordics?".

Firstly, RIL would have to secure enough feedstock to justify a 10tpd plant to entertain the prospect of CM participating. So yeah, CM could, but I assume CM would have to list on the ASX before they could participate in any JV with RIL. As far as I know, if RIL finds enough feedstock in the Nordics & CM can't contribute, then RIL has the plant all to themselves. If CM can only tribute 25% of the costs involved then CM only gets a 25% stake in the plant while RIL gets 75%.

The fact CM is still an unlisted company could be one reason RIL is chasing feedstock in the UK first for a 10tpd plant, before any other region. But there could be many reasons, that partner there might have been ready to move before anyone else, I don't know.

CM was looking to divest their interests in tenements around the Nordic region some months ago, I haven't been keeping a close eye on them for some time as I think they're dead in the water. It's the job of RIL to find feedstock in the Nordics & CM can't do anything until they do.




All CM has is a 50:50 JV with RIL, that's it.

No Vanadium plant.
No tenements.

It's a sorry state of affairs over there, I believe long-time ex-HNR board member Markus Bachmann has left CM as well.