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@mrcautious -- So Perry asks me for an example, I give it to him, you report it. That's fine, I don't want anyone else jacking up the price right now.
@stevegrass -- You can find the links easily with a search of Google News (Spanish - Mexico)
https://manufactura.mx/industrias/2020/01/28/industria-del-litio-en-mexico-en-riesgo-por-inseguridad
https://contraparte.mx/nacionales/47273-el-senador-armenta-propondr%C3%A1-la-creaci%C3%B3n-del-instituto-nacional-del-litio.html
Here’s a good one from March:
https://www.milenio.com/politica/mexico-analiza-nacionalizar-litio-informa-amlo
[Translated] President Andrés Manuel López Obrador reported that the Ministry of Economy is conducting an analysis to nationalize lithium in Mexico . In the morning conference at the National Palace, he made it clear that his government is not thinking of "expropriating for the sake of expropriation", but rather that there are already companies that are taking advantage of this resource .
Some of the articles Bob mentions can't be found via searching, and he never puts links up so if he is making it up it will be braking fca rules on conduct, especially as bcn is in a sensitive takeover period, I would imagine.
Seems no facts behind his posts.
Feck me ! For a guy who hates BCN you have a lot of posts here ! And now you are promoting other stocks ! Ordinarily I would nt mind the odd post saying 'have a look at ' but given your agenda I reported this activity ....
@perry100 Please explain the benefits of an offtake agreement at a time of supply shortages and rising prices. What did BCN give up in return for the promises to buy what they eventually might have available to sell? Was the price fixed at a set amount, or at a discount from current market?
Yes, I took the opportunity yesterday to put some money into SQM. Potential investors in Mexico should get to know national Senator Alejandro Armenta Mier, from President Lopez Obrador’s governing party, who wants to nationalize the lithium industry as Mexico did with the oil industry in the lifetime of older Mexican political leaders. He told his fellow legislators last month that “lithium is essential for Mexico to achieve its Energy Sovereignty.”
Armenta Mier has criticized the lack of attention paid to lithium by his country. “Today there is no government institution that can tell you the characteristics of the rock, the clay of the subsoil, the surface or the depth where the lithium is found,” he says. And he adds that “if we want to know something about lithium we have to ask the Chinese, we have to ask the Canadians, the Koreans. Because there is no institute that is investigating the most important input in the world in the energy transition.”
A major barrier to mining in Mexico is the lack of security, according to an article in the Mexico City newspaper El Sol from January 2020.
“The insecurity that plagues Mexico could become one of the main obstacles to developing the local lithium extraction and production industry after the discovery of an important deposit in the north of the country, according to a mining sector specialist.”
The article quotes Sergio Almazán, who from 2004 to 2019 directed the Mining Chamber of Mexico (Camimex). "The outlook is looking good for Mexico (but) security, as in all industry, not only in mining, is a problem that we have to solve in the country," said Almazán, "Mining investors are always looking for the best characteristics to invest in (and) undoubtedly one of the issues they observe is the issue of security," he added.
It reports “Mining, which contributes 3.8% to local GDP, has suffered the attacks of crime. Two months ago, a truck carrying gold bars from a Fresnillo mining unit was attacked by an armed commando.
“The lithium deposit, which is estimated to start producing in 2021, is located just over 100 kilometers from the place where in November of last year three women and six children from a Mexican-American Mormon community were shot by alleged members of organized crime. A comment from Bacanora Lithium and Ganfeng could not be immediately obtained.”
https://www.mining-technology.com/features/top-ten-biggest-lithium-mines
Lets not forget what we have here.
Probably the best thing Secker did was to build the pilot plant. The product is proven at battery grade
If enough people take a long term view then the lowball offer can be knocked back. We can all play our part
Probably a good sign that the mystery new posters appearing, someone's worried about PI votes ?
Please don’t engage with Bob. He’s leading people into discussions we don’t need to have at the moment and it’s a distraction. He cleverly weaves a few facts into his nonsense to make it seem like he wants to engage in a sensible argument but it’s just a ploy to draw people into pointless arguments. Better to just ignore and think about why he suddenly appeared at this time. However well thought replies to his messages are you will never bring him round and he will just come up with some other line to try to raise doubts.
Hi Perry!
And for that matter, Bob might want to think about recent anti-mining developments developments in Chile. SQM's share price dropped 10% yesterday after the results of the elections to the new Constitutional Convention were announced. It's looks more than possible that Constitutional Reform will either ban or sharply increase taxes on lithium brine mining there.
Bob, perry100 just took the words right out of my mouth there. Are you saying that Ganfeng have got this hopelessly wrong in choosing BCN then?
Morning Bob. It would be good to see the list you are working from that leads you to believe that there will be 'a couple dozen other miners' with mines due to start producing in the next couple of years. That was not my impression. Are they all mines which are fully funded to production with offtake agreements in place for all of their production as is the case with Bacanora? Again, probably worth passing your research on to Ganfeng so they can re-evaluate their intention to buy the whole company.
@thefrogster Because sometimes people need to be reminded that BCN does not have a kilo of lithum to sell at the moment and won't for another two years -- at which time a couple dozen other miners will also be entering the marketplace with tons of the same commodity. Why are you so enamored with just one of many mine sites? Is it because there aren't that many available for investment in the British market? I have many from which to choose, mostly with primary listings in Canada or Australia but also available in the US OTC market.
Bob, why are you posting this drivel?
I bought BCN at the same price as Ganfeng did in February. Sorry you didn't. Meanwhile, Ganfeng is making big moves in Argentina today also. You can look it up.
It's amazing that one of the largest lithium producers in the world has been working closely with Bacanora for many months and now wants to buy Bacanora outright, isn't it? Perhaps Ganfeng have done less research into the viability of the project than you Bob? You should send some of your research through to them to help stop them making a huge mistake.
It wasn’t anything I said, it was a quote from a Reuters story about a Mexican government mining official disputing in a message to the Senate last October the extent and accessibility of the Sonora deposits. You’ll just have to look it up yourself – a lot more shows up with a Google News search if you use the Spanish (Mexico) version.
I am always amused by those who see some significance in a 200-year (or is it 350?) supply. There is a near-term shortage and a long-term surplus of lithium. You can buy a 200-year supply of face masks these days, but don’t count on their value to increase. The mines that have the best infrastructure will survive. That is not in a remote part of Mexico. (There are 31 concessions scattered around the country, if you’re looking for a better one.)
Remember that lithium can be recycled. The EV’s with lithium batteries today will be mined for the lithium in new EV’s in 10 or 15 years. Go invest your money in recycling plants. And check out zero-carbon lithium using thermal-power processing.
When you can’t understand why people aren’t buying what you are trying to sell at an inflated price – consider that they may know something you don’t.
Great to refresh people on the actual quality and quantity of the Sonora mine, has bobs misleading post gone?
Can't see it anywhere.
For the benefit of those who are unfamiliar with the GIGANTIC lithium reserves at Sonora and may be influenced by a certain troll a glance at Bacanora's web site will help. See tables 2-4
https://www.bacanoralithium.com/projects/sonora-lithium/
PS It's also the cheapest to extract