Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Well at least uncle buck ,can't come on and say.this company will go bankrupt.
Saskatchewan Potash Mine Five years after committing $2.6 billion to sink a pair of kilometre-deep shafts at its Jansen mine project, BHP confirmed that drilling crews reached potash deposits 924 metres below ground late last month.
After 5 years they have reached 924 meters. And not fitted out yet.
Sirius production shaft is 1590 meters .
Well said, Dan! I’m a ‘Sirius migrant’(!) and agree completely with your literate discourse. Of course I’m not happy to have made a smallish loss on Sirius shares, but such are the risks in investing. Onwards and (hopefully) upwards.
Hi, I notice that a few contributors have migrated from the SXX board, and brought with them a few of the old shibboleths about the viability of the Woodsmith operation:
-That 'the aquifer' presents a critical risk factor in the sinking of the shafts. I'm not an expert in any of this, but I can Google with the best of them, and it seems that sinking shafts through an aquifer is something that the mining industry has encountered, and overcome, before. I volunteer https://www.imwa.info/docs/imwa_2009/IMWA2009_SpychakPregrouting.pdf and I'm sure many other resources are available.
-That polyhalite is very hard, and difficult to mine, breaking even the sharpest mining machinery. Again, I'm not an expert, but Wikipedia tells me that the hardness of polyhalite is 3.5 on Moh's scale of hardness, which is not very hard at all. Perhaps Polyminer2 could let us know if it exhibits a particular kind of hardness not recognised by Moh's scale.
-That it has less Potassium that MOP, and is therefore an inferior product which will fail to find a market. I think that Sirius' offtake agreements suggest otherwise, that it has other qualities of a synergistic blend of nutrients and low chloride (MOP is all chloride) also that, once the mine is built, the mineral will be cheap to extract and turn into a marketable product.
I have to ask why, if it is such a poor product, and so difficult to mine, that ICL Boulby are bothering to use up their precious drill bits on it; surely not just to present Sirius with samples for marketing purposes.
I must say I am confident that if AAL think that Woodsmith is a good idea, they will not be knocked off course by the usual misleaders and turners aside we have got used to reading on the Sirius board.
Oh, and I bought some AAL thre weeks ago at 2152, since which time it did rise several percent, before being hit by the hysterical reaction to the latest outbreak of Chinese Cold, in common with most other mining companies. I don't ascribe the initial rise particularly to the possible aquisition of SXX, but I look forward to the project contributing successfully to AAL's portfolio, and also delivering all the benefits to the local area that were promised under Sirius.
Out of SXX, watching AAL with interest
One of the world’s largest mining companies has struck potash in Saskatchewan.
Five years after committing $2.6 billion to sink a pair of kilometre-deep shafts at its Jansen mine project, BHP confirmed that drilling crews reached potash deposits 924 metres below ground late last month.
While the multibillion-dollar mine has yet to be sanctioned by the Anglo-Australian mining giant’s board, Giles Hellyer, the company’s vice president of potash operations, said reaching potash was a “significant milestone.”
“Shaft sinking is technical and complex,” Hellyer said in an emailed statement.
“The ongoing sinking and completion of the shafts over the next couple of years will help us reduce the development risk of this greenfield project and give us access to what we believe is one of the world’s best undeveloped potash resources.”
Read posts from polyminer2 over on sxx. He works at Boulby mining Poly. So hard it breaks the cutter teeth. He thinks there is little chance of achieving any significant volume.
ex-sxx .. the aquifer is not that risky. The sandstone is quite strong and the flooding will come from cracks in the sandstone. These can be grouted and this was done quite successfully with the Boulby mine.
The risk with Sirius is that the Polyhalite is low potassium so is a bulky commodity and will there really be a market for 10mt/y or ideally 20mt/y tons a year at a premium price?
There is a premium for the SOP over the MOP but there are a number of SOP projects, especially in the salt lakes of Australia.
If there is an enduring premium for SOP and especially for the POLY4 then SXX is cheap, if not, its going to be an expensive hole in the ground.
The market hasn't exactly marked AAL share price up since its bid.
Sold half of a long term holding at around £22 after a good run and nice divis. Looking to put it back in sub £20
as far as I know they are already through the aquifer. for what its worth I've just bought in, first tranche with AA.
Bellers. Im in here now I think we are dealing with a totally different beast here in comparison to SM. This mine will be built, make no mistake about it. GLA
I’m certainly watching the price. I’m also a bit hesitant about buying in because we were told by Sirius management that sinking the shaft through the aquifer was very risky and they wanted someone to take the risk. If Anglo buy Sirius and get through the aquifer without floods I’ll probably buy in. Watching brief.
Wonder how many Sirius people jumped over here after the takeover news and have seen even more losses