A lot of concern around financials not being up front however do...

A lot of concern around financials not being up front however do remember this is a new global energy and supply paradigm we are transitioning to, i.e., a non-China mine to magnet supply chain being built to address a massive global supply shortfall in REE . The lack of detail available atm around VML's financials must be viewed within that context. A good guide (for myself anyway) is LKAB (the Swedish Govt owned large cap industrial entity with about 4,500 employees) recently announcing their NEW investment in REEtec, along with Norwegian state-owned Nysnø Klimainvesteringer, Mercuria and TechMet also becoming new shareholders of REEtec. In their press release on 8th November 2022 announcing their investment, LKAB specifically state that:
- Raw material to supply the first factory will come from Vital Metals in Canada and there is an agreement with Vital Metals that will allow for a tripling in volumes
- REEtec has sold 80 percent of the planned production via, among other agreements, a five-year contract with a global supplier to the vehicle industry, Schaeffler Group.

Does anyone think that these huge corporations don’t know what they are doing, that they are pinning their entire investments on a lame duck that can’t deliver and they have sold their planned production knowing they can’t deliver it? These agreements and investments are being managed at governmental and large/mega cap company levels between Canada and Europe and it’s obvious they know a lot more that we do and what they know drives their investment and public narrative.

Here is a link to the LKAB announcement:
https://lkab.com/en/press/lkab-becomes-largest-owner-in-reetec-as-builds-a-strong-nordic-industry-for-rare-earth-elements/