JSL phonecallHad an interesting phone call with JSL. First and foremost, my apologies to him (and the board). I have been showing some frustrations, just like the rest of the board.
I had sent him an email (that was not very nice), and got almost an instant reply to call him. So I did.
Had a brief 11 minute conversation. No, he did not tell me antyhing privildged. But here a couple of points:
--AGM is in middle of May
--they cannot broadcast it (as per their legal team's advice). Maybe it's better that way anyways, in case they say something that can be taken out to mean something different
--he has only taken off 3 days (since Christmas)
--he has been travelling and so has Dr. Haber, etc. Doing a lot of meetings, etc. etc.
--they are actively working towards a deal (share price decrease affects them even more than us, since they have millions of shares)
--morgan stanley report is complete BS (actually he did not use that language, I did). It's blown way overproportion, and they are now controlling what happens to the market
--many other lithium juniors are in the same boat as us...share price is affecting everybody
--although no offtake has taken place, they keep moving along in regards to permiting, etc. etc.
--delay in project financing WILL NOT affect the mine production start date (since they already built this in)
--they want the best deal for everybody and are looking at many different options with different percentages, cost sharing/profit sharing, etc. etc.
--they believe they will have no issues to get remaining funds in equity or financing (from the banks). But the offtake will be huge!!
Take it for what it's worth. I definitely plan on attending the AGM in May. I would like to meet management and will have a more lengthy list of questions for them.
One last thing to note. Management does read stockhouse and their emails (that they get from "contact us" - on the CRE website). So maybe instead of bashing, maybe we should be praising (or at least encouraging) management to act in our best interests. Remember Dr. Haber has been doing this a long long time and he was heavily involved in a MUCH bigger project. I'm sure he's learnt a few things along the way. Let's give them some time. I predict by summer time we will have an offtake. The only question is, will our share price be $0.75 at that time? Or will it be $1.50? Who care, CRE will be producing in Q3-2020, ust like their timeline says :)