Well you guys never seem to dissapoint me. No matter how good the news, you can all explain to us why the sky is falling.
So let's consider things:
1) All the hard to get equipment is onsite. Installation and run up is about all that is needed now. Cost overruns aren't any different than in many other projects. Bench mark inputs like steel tripled through covid. Energy inputs like diesel fuel have doubled. While unfortunate the shortfall is hardly surprising nor was it predictable.
2) Company is making revenue on recycling so that is much better than just spending.
3) The United States, and this is the BIG one, just banned foreign battery material in EV's when it comes to subsidies. Given the economcs of buying EV is poor without it, this will have a massive impact to the playing field. Especially if the governments finally get their act together and figure out how to recover the lost road tax from all these EV owners and other taxes and costs they are currently avoiding making those susbsidies more critical to consumers
4) under the new US rules Canadian resources (and we have the vast majority) are considered domestic production
5) Everyone is playing blind to the human cost of mining in Congo pretending that no artisan miner certifications are legit. Eventually that situation is going to be impossible to ignore and the uproar of the average person is going to make the sweat shops of the 80's and 90's textile industry seem like nothing. Governments are wise to be getting out in front of it.
Given that there are no meaningful options for refining yet, outside of China and Scandanavia, do you really think the government or private industry will allow this to not get built? Not finish the ONLY North American refinary?? Especially in the face of the hundreds of millions of dollars in business already lined up? Really?? Give your collective heads a shake.
But hey...if you really don't believe keep driving that price down. I more than doubled my position today and maybe I'll do it again.