Financing Increased to $16 MillionDefinitely more interest moving-in especially with CYP to begin running the Lithium processing plant of the "claystone" feed material for 2 weeks on a 24/7 "Continuous" operating running time.
With Oil at 7 year highs (Brent Crude at $89) and moving towards $100/barrel, Lithium is likely considered a commodity of USA National Security, given the Russians moving a significant number of troops to the Ukraine border.
In view of the significant tight supply of Lithium for Lithium battery demand ($24 per pound Lithium Carbonate), as well as the increasing demand from end users of glass, ceramics and lubricants (glass manufacturing likely to be shut out of the Lithium supply process given that battery demand is so strong), it would be prudent for Government regulatory bodies to grant permission to Lithium developers to start producing Lithium product via expanded pilot scale operations. Albeit a smaller quantity produced at the pilot scale stage, nonetheless, it makes some degree of contribution to the Lithium supply process.
Not surprising to see an "Over-subscribed" Cypress financing.
Similarly, I would think another Lithium developer, Frontier Lithium is likely considering a $30 Million financing in the $3 range where there doesn't appear to be much resistance until $3.30 a share as management currently owns about 30% of the outstanding shares.