RE:What is going on?I have been watching this last couple of months with a great deal of interest. Technically I have not heard / seen anything other than what has been communicated on this platform and others. The biggest thing I noted was that the volumes that are causing the price volitility have been relatively minor. Sellers of little faith or potentially cash constrained by the downturn. I have not seen a trend or a wave of increasing volumes yet that should reflect the expected spike when the commissioning phase finishes and the multiples start to hopefully swing positive.
I will speculate a little and point out this tidbit. I worked with the feds my entire life and often operating at the minister and international level for years before I retired. I read a couple of Fed briefs indicating there is a very significant amount of talk ongoing about Canada's potential impact and position the future supply chain for rare earths and specifically EV battery materials. The discussions are at the absolute highest levels. Both the US an CAN have directly referred to ELBM by name in previous statements as examples of moves being made by industry to help accelerate the North American response. Both countries have announced plans to support refiners and miners. ELBM is both in both countries. With Quebec recently announcing that they are also courting Electra to potentially clone their park at an established east coast PQ port, it would appear their lobbying efforts are starting to pay off. This coupled with their now being listed on the NASDAQ should set the stage for the expected pop once the phase 1 faciliites upgrade completes and investors gain some faith in the new projected revenue numbers in 2023.
My experience tells me when the Gov calls your company to engage in discussions about the future it usually looks brighter for a while. So from a timing perspective I 100% believe, based on my past job, there is a lot of backroom noise inside the Beaurocratic / Industry stakeholders about how to best use the "Approved" and announced Can/US funds to improve the North American Supply chain. Remember the money is tied to fiscal budgets and is way more difficult to commit and spend than people realize. ELBM is very well positioned to really move the yardsticks in a tangible way quickly which is exactly the type of deal the Politicians like to make. FYI, Ministers and their staff are terrible at keeping secrets. The bigger the secret the more they want to tell people who shouldn't know.
I honestly believe we should start to see this rising pattern continue as we approach the end of Q4. Results from the on the Black Mass Recycle and Nickle lines will trigger wobbles but overall I'm hoping for a steady climb to a 3 X rise for us early explorers who dable in Ventures for fun and profit.
In the mean time I bought more shares during the dip and plan to continue to hold a long position with a bullish view for now.
Not sure I trust Mel to continue on as long term CEO once they start normal operations of the whole park. I believe he is a "build it" leader vs a profitable Operations type. A good steady handed operations person is important part and ELBM seems to be recruiting some good new blood for these spots.
Hope this helps.