Northern Lithium is one of the leading mineral extraction companies in the UK aiming to deliver a sustainable domestic supply of battery grade lithium. Demand in the UK for lithium is rising fast, yet the country relies 100% on imports – Northern Lithium’s mission is to deliver a home-grown lithium supply, at scale, initially from the Northeast of England.
It’s got my interest, especially because it mentions that they’re working with Cornish Lithium which has always sounded like an interesting venture.
Unfortunately, here comes my usual rant about Crowdcube’s ridiculous new fees structure of fixed fee PLUS a percentage of any profits you make. I’m going to make it into some copypasta so I can just paste it next time instead of rewriting it all.
Behold the fairweather friend parasites at Molten Ventures backed Crowdcube who charge you a Success Tax when you’re winning, taking a cut of any profits you make on your very high risk crowdfunding investments but who just shrug and watch when you’re losing everything rather than share the loss with you in the form of rebates or refunds.
They’re having their cake and eating it.
I’ve got nothing against them charging a fee for their platform, whether to companies raising funds, to investors (ugh) or both (bleurgh), but them siphoning profits without taking on any of the risks from consumer investments makes them the stinkiest beast in the farmyard.
And for that reason, I won’t be investing.
There is enough lithium supply, no need for home grown lithium supply.
And what do you do with lithuim? export, you can’t be making batteries here.