RE:RE:RE:Focus on: RECEIVE & ANALYZE We already have similar news back in August 2022:
"A substantial number of non-disclosure agreements with potential strategic partners are now in place, illustrative of the competitive tension in the lithium market. These parties are currently in the process of reviewing the Corporation's extensive data set in the data room."
Now February 1st they say:
Critical Elements has commenced a formal process to receive and analyze multiple expressions of interest in participating in the financing and development of the project received to date"
I'm sorry but for me, these languages are the same - both are a prerequisite in order to gain access to review the "data room"! It does not say that offers are received, all it says is that they commenced now (January) the same review that was supposedly ongoing since the summer of last year. Expression of Intrest is not that you are providing a bid, just indicating that you will after certain conditions are met.
Will refer you to Habber's October interview where he said that the discussions were ongoing and they will announce financing news almost 'instantaneously' as he put it..
Well this NR basically puts off everything further away in my opinion.
Noted previously my timelines and here in the NR they say:
- Detailed engineering is expected to follow value engineering and take 12 to 14 months
- I read the FEED and value eng. Are scheduled for the end of February 2023.
- “….site preparation may commence with detailed engineering being approximately 60% to 75% completed..”
So site work will start in October as noted in their revised presentation and if project financing and specific construction permits are in place. I personally do not expect any news Q1, probably the end of Q2.
My issue is not that I can’t wait 6 more months, but rather that with the recession fear-mongering around, LITH may collapse pretty quickly and we be deprived of significant gains. Yes, I prefer fairy tales and rose glasses and sell with 5x return during pump and dump, don’t really care if the mine will happen next 2 or 5 years. It’s a venture exchange.. go announce ASX on US listing, and see how this will explode, but these are wet dreams only of course.
Regardless, not much we can do, besides complain and get frustrated about it ..