AGM REPORT
Hi guys,
what a great experience it was.We were about 15 to 18 people in the room, including Cre management and Computershare employees. I met two other's stockhouse members, 110158 and another guy I didn't heard his name. I couldn't take notes on everything, I'm not good enough to traduce and write live!
First he asked what is the % of probability that an offtake agreement could happen before the end of 2014. Mr Lavallée answered that if an offtake agreement was their #1 priority, they could sign one tomorrow morning at 99%. But Mr. Meilleur explained : when an offtake agreement occur, there is obligations from the two parts: the client have to buy an amount of product and Cre woult have to supply that amount of lithium with the purity in the contract. In the pasts months, Cre was not able to know the precise amouth of lithium and the puritiy they could guarantee.If they sign an offtake agreement and they aren't able to produce the lithium, they would have to pay a penalty. They don't want to add costs in the position they are. To start production, they want to secure a contract to minimize the risks, assuring a profitability as soon as possible. This take more time than expected, but they are in the good way.
Somewhere in the conversation, they talked of a CAPEX of about 268 millions $.
I will put others questions in other posts because I have problems with my computer.