Some headwinds today with the AFR article on Inflation Reduction...

Some headwinds today with the AFR article on Inflation Reduction Act excluding anyone with Chinese ownership of 25% or more.

https://www.copyright link/companies/mining/chinese-ties-exclude-australian-lithium-miners-from-us-cash-20231202-p5eoj0

Ms King, who visited Washington in October, said the government continued to work with the US to “ensure Australian companies benefit from the IRA”. Both Greenbushes and the Kwinana assets would be ineligible for US subsidies under the draft’s suggestion that a 25 per cent “equity interest” from a Chinese company would make an entity “subject to the direction” of China.

That coupled with a lot of others concerns is why the stock is being shorted (and share price down), including:

1) IGO have no control over production from Greenbushes - decrease in production due to nominations from Tianqi is a major concern for IGO and major shareholders who expect certainty from one of the lowest cost producers.

2) What is happening with the Kwinana Lithium plant

3) Lithium price decrease

4) Nickel price decrease (and what this means for Cosmo in particular).