Stay calm, don't be over optimistic about $35, always keep in mind of the risk. there is quite a bit uncertainty still.
I strongly believe the funding is not a problem because political support + business viability as shown in DFS and BES. I also don't see any chance of failure of LEOP and CLOEP, it is just a matter of time.
Due to offtake price be fixed, the only also the biggest uncertainty is the lithium dilution/how the reservoir response when injection happens. Actually, I don't think anyone have clear answer about this because it under ground thousand meters deep. There will be 3 situations shown in DFS:
1,good luck. not much dilution in first 5 years, and slow dilution over the time. Vul will be a very lucky and great company.
2, acceptable dilution, as we assumed in DFS and BES, it take 30 year to dilution down to 100mg/L. Vul will be a rich company.
3, bad dilution. it only take around 10 years dilution down to 100mg/l. In this situation, there won't be much profit for Lithium business, And Vulcan will become a utility company (heat and energy) with some extra income from lithium and climate fund. . if situation 3 happens, the chance of big gain from Vulcan will sit on the global expansion and capitalization of Vulcan's DLE technology arm.
personally, I won't sell any until first ton production news in a couple months. the complete funding will not come soon easily, but some good updates may come anytime now , like strategic support from French export credit agency ,then Germany government etc.
I may hold until i see most of all good news and construction starts.
NOT a financial advice
always do your own research
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