From Hydra Capital Partners Critical Elements Lithium Corp (CRE.V, last at $1.65)
Critical is an enigma, and not in a good way. Despite having all key permits, in one of the best jurisdictions for mining, with good ESG chops, CRE still languishes on the shelf of projects that “should be” getting financed and put into production. I like the project and the valuation, but time is ticking here and I hope that my faith in management’s ability to bring project financing across the line is not misplaced. Lithium is relatively easy to find, but having a project this advanced with strong economics is far more rare. I still own it, but less than I once did. I fear that CRE may have missed a prime window of market interest, but the value is compelling enough that I’m not giving up on it.