VUL megathread, page-5537

Great interview @ShareStock2021, very current, lots of hints and useful reconfirmations. Key takeaways for me, (all in my opinion/interpretation where applicable):

- “hopefully soon to be a much bigger” geothermal heating producer/energy supplier, so IMO more announcements on regional heat offtakes likely to come shortly (lithium2021’s basement underfloor heating is perhaps getting hooked up to the grid!)

- each offtake partner brings technical and political clout to the table, they’re not just a buyer.

- Stellantis as major shareholder and offtake partner, with their large Opel operation located nearby Vulcan, is strategically and politically extremely helpful.

- first five years of lithium production is fully sold out. These are binding purchase & supply agreements and this considerably aids the process of obtaining Bank financing for the buildout of the project.

- due to high demand and global shortage the production could be expanded even further if feasible.

- Italian geothermal partner Enel is probably the best partner possible for the exploration and development of the Italian arm, still in early stages.

- DFS “either late this year or early next year” was a very interesting comment and could be something to catch us all by surprise if it comes early. If they are deliberately under-promising now in preparation to over-deliver (the DFS arriving in Dec, for example), short sellers are going to get well burnt.

- 150 (highly skilled) employees now, with that number to double in the next few months (really puts into perspective the couple of downrampers here who really increasingly deserve to be ignored now). Clearly, all signals are that the the DFS is going to be very positive.

- Production 2025-2030 is going to put Vulcan in the most financially rewarding spot in terms of the continuing supply deficit and price premium.

A very positive & bullish interview imo.