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Final vote passed last night on the SPAC deal, Nasdaq open Monday, out of suspension (pushed on to them by ASX) one Tuesday.
Huge arbitrage and a lot of US interest. Fingers crossed, hoping for a mega pay day.
Well it's been a long and winding road on this one, but the SPAC shuffle has been done, shorters out, packs re-shuffled, vote is Wednesday night and NASDAQ I think is Monday. Will probably stay suspended here as ASX wants the deal done before letting people trade again.
If you in, good luck.
Have been watching this closely for a couple of months and the extension of the Trading Halt is surely not a good sign.
I'm not sure if @Rudyboy is in a position to shed any light on the situation, but was wondering if anyone else has had EUR in their sights and if they have a crystal ball as to the future.
The vote to fold the SPAC (SIZZLE) and EUR will be held on the 23/1. Thereafter the company will be listed on NASDAQ. This could happen within days; the only thing that might slightly delay that is if for example a big investor came in pre-listing. This would need a report to the SEC only for info not review. This would add a few days.
There is good chance the bell will be rung on Nasdaq before 8th Feb....but just in case, they have asked for an extension which they need to vote on. If the bell is rung before 8/2, the vote is null and void as it will already be listed on NASDAQ.
Hope that helps.
Can smarter minds than mine shed any light on the significance (if any) of today's announcement
Macca,
EUR has a contract with BMW for all the Wolfsburg product, and it will not be sold as spodumene alpha, but processed to Lithium Hydroxide in the JV with Obeikan.
Current prices are severely depressed by the Chinese trying to keep new players from entering the market which they control. Tianqi Lithium here in Kwinana is hoping to get up to 50% of nameplate production (after years of trying), but everyone I talk to has no idea when it will be done. So new players are delayed like Tianqi and Albemarle and the Wesfarmers Covalent project has a big problem with their constructor.
So the real issue will be lack of supply of Hydroxide for EV batteries; the EV market is exploding, particularly in China.
Like someone said to me the other day, the price of steel is so depressed. Well with an Iron price of U$140 per tonne....how can a Chinese fabricator sell for so low.....easy...huge subsidies, but at Xi has found out, China needs to fire up their economy and that can only mean much higher prices. You can read the exact same into Lithium.
Personally, if a Lithium company has a clear route to a proven hydroxide end product, with the current share prices taking a beating, now is a great time to buy in a counter move. That goes for EUR and anyone else well down the path.
Thankyou @Rudyboy for the heads-up re. this small cap.
I see they went into a trading halt yesterday, pending an announcement today.
Although speculative, I was wondering if you had any thoughts about how the over supply of Lithium and the recent subsequent price slump will affect EUR going forward.
I noted that @PinchOfSalt had put in an order for EUR the other day.
I have been working quietly with EUR for about two years and although I am under an NDA, I can help with questions relating to the company that is in the public domain, which includes the BFS and its 902 pages.
Happy to answer any queries if anyone is interested, suffice to say I think 30c plus is a reasonable target over the next three months. The Nasdaq listing is now a done deal, the SIZZLE shareholder vote is just a 21 day delay. I think bell ringing around 24th to 26th of January.
Transaction value is 88c, assume half and take off the ASX "we don't value anything" principle and you can see how my number comes out.
I am a big supporter and holder in EUR but deliberately have kept that pretty quiet on here. I think the fireside chat that the Chairman Tony Sage has just done is well worth the listen, not necessarily just to see where they re up to, but it also covers a lot of ground on how any lithium play gets up.
Also a bit of discussion on the SPAC money and listing on Nasdaq. Happy to answer any questions after.