Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Here is some informed comment on another favourite subject of yours.
Enjoy :)
https://youtu.be/6Tz1MiX1p5I
It begs the question as to what would the POG be if this sort of behaviour was illegal (which it is meant to be?)
https://www.youtube.com/watch?v=evWEuVR1XIs
quite sad
the gnome
We could do something exciting and invent a new demographic unit Russina...LOL
Sad to see Barry Humphreys pass along. Loved the satire, and now we need it more than ever (or do we have it more than ever?!). Could you imagine the send up of the US Presidential race (s)...or bunny hopping. Just so much material to hand, where is the new talent!!!
https://www.youtube.com/watch?v=mOduzg0hn-k
https://www.youtube.com/watch?v=lSdt1B_4Giw
cheers
the gnome
Hi Mr Gnome,
New investors are often puzzled why the share price seems to languish at lower than what might reasonably expected values and why the market seems unimpressed and lacking confidence in the company's, by comparison longer term investors are all too painfully aware of the reasons and how many times the guidance promises and promised updates on other projects have failed to rematerialise at the last minute!
As i have stated in the past we shareholders have been taken for granted and deceived by the previous management far too often , in fact deception and lies seems to have been the custom and practice of the previous management which is why we are where we are and that shouldn't be forgotten, I agree unforeseen occurrences can happen in mining, but the consequences bad mining practice at Sukari which has led to our present dilemma was warned about in 2015 and subsequently denied and ignored by the previous management!
So so now is not the time for sweeping under the carpet the years of deliberate bad mining practice and erratic performance until the promised results are delivered, until then people need to be on their guard!!
Ha HA , be careful Gnome you will be accused of being Russian or Chinese .
Not that you care .
For those that follow the plight of the US politics and the US$, there are some gigantic revelations being made in the US at the highest level. We all know about the lst President being up for concealing payouts to a former Play Bunny. We know Foxtel is paying up for numerous biassed reportings of the last presidential elections.
But the the most significant revelation is just dawning...An all-time media blackout is in effect. Weâre experiencing real-time Sovietization.
Now to the current President, and some interesting events...
It transpires that the infamous incident before the 2020 election in which 50 former intelligence officials signed an open letter declared a New York Post expose about Hunter Biden's laptop to have the âclassic earmarks of a Russian information operationâ was, allegedly at least, instigated at the behest of the Joe Biden campaign. This at least is the allegation in a letter to Secretary of State Anthony Blinken released by Jim Jordan, chair of the House Judiciary Committee, and Subcommittee on the Weaponization of Government.
In that letter, which is not easy to find, youâll see three snippets of dialogue from questioning of Morell, who appears to have organized the open letter. In the first snippet, he explains that the idea originated with a call from Blinken, then of the Biden campaign, and that absent that call, Morell wouldnât have done what he did:
In the second snippet Morell bluntly explains that he did it because âI wanted him to win,â him being Joe Biden:
By any marker, this is an enormous news story. If we go by the usual measuring stick of American scandal, the Watergate story, this potentially meets or exceed that, on almost every level. Does it reach into the current White House? Check. Was it a craven attempt to subvert the electoral process? Check again. Did a presidential candidate engineer a massive public deception? Yes, resoundingly. Did it involve intelligence agencies? Yes, and these werenât amateurs like Nixonâs plumbers. These were 50 of the most powerful people in the intelligence world â including five former heads or acting heads of the Agency in Morell, John Brennan, Leon Panetta, Michael Hayden, and John McLughlin â conspiring to meddle in domestic politics on a grand scale. ...
What can one say? The political processes are about as robust as their financial processes.
https://www.racket.news/p/news-blackout-in-effect?utm_source=profile&utm_medium=reader2
https://www.youtube.com/watch?v=nSXs_IkyGf4
Off topic perhaps, but there is a social license that is deteriating very rapidly in the US
enjoy the rest of the weekend,
the gnome
Dasut
I would think there must have been some robust investigation as to the commercial viability of a significant cutback, to look at the commercial and technical case for trying to increase the open pit production to meet forward projections. No back of the envelope thumb suck. Given the impact of the exercise, not to mention cost and time frame, I would have thought it good business practise to share this with the owners (shareholders) of the company. The counter argument could have been that the figures might have been of such concern to analysts and investors that they put the SP in a falling spiral situation...?
I think you touched on an issue for me in that the previous mine plan did not have eough optionality built into it, to cover for such a situation let alone the wall failure. Having options to cover such events is fundamental to a successful mine plan and successful mine project. So I come back to the previous Mine Management and their amateurism.
A Tier one orebody can forgive a lot of Mine Mangement mediocrity, and it look slike Sukari has allowed this.
I am always very circumspect when I see a Geologist running a Mining Operations, .. it nearly always end in tears, as they have different experiences, education and mindsets, some unsuited for runing a comlpex mining operation. The last CEO was a Geo, and all I can say is thank goodness he has done...
The endless looking back is not really getting us too far ahead, and I suggest people look at what the future holds rather getting bogged the past
best
the gnome
Spoonington I understand your pain and you put your case very eloquently and I think you should ask Horgan to provide us with an executive summary with numbers covering the decision for the waste contract.
Personally I think the need for a concerted effort to open up the mine with a major cut back was being analyzed before the west wall instability. Like you I have never seen a dedicated waste contract but given the circumstances I struggle to see an alternative solution.
Horgan could better spend his time talking up the exploitation potential of the 160km2 and the new concession.
hi Dasut,
I was seriously considered considering going to the FCA concerning the Josef El Raghy sale of 20 million of his shares in 2017 which seems suspicious when considering he had privileged access to information regarding the future grade problems that Sukari would suffer in 2018.
Like many other share holders I feel that we have been deceived because it is not easy for ordinary people to understand the geological and analysts reports, that said though ordinary investors should able to rely on the company being honest about future production predictions, possible problems etc.
I did try to find out from Centamin at the time the reason why the CEO was disposing of so many shares, 20 million all at the same time, I was told that they werenât sure, but likely he was probably just diversifying his portfolio, or that he wanted to use the money to set up a new mining venture, what a crock!
In the 2018 Q1 Andrew Pardey was still predicting that 580.000 oz were possible for that year, yet three weeks later Centamin issued an RNS warning that production guidance was going to around 505.000 due to poorer than expected transitional ore grades, difficult geological strata and problems with plant, which it is now apparent was the sole but inadequately maintained LHDR on which the understated, but so very essential underground contribution to overall production relied!
In 2015 the glossing over of inherent open pit grade problems was denied by Andrew Pardey who claimed Kees Dekker was wrong, but when Kees asked Andrew Pardey to provide the full production stats so as to avoid Kees having to make roundabout calculations, the correspondence ceased!
As you point out they should have tackled the problems far earlier, Kees Dekker mining analyst believed their forecast open pit grade could never materialise as they seemed to consistently overestimate it, or underestimate the dilution!
I am aware that I am nowhere near as knowledgeable on mining as you, or other former mining professionals on here, however I do resent being lied to and recognise "Bullsh(it' it is painfully apparent we were given plenty of that by the previous management!
Hi Mr Bond,
Mr Tibbles was a very clever cat who knew what he liked, snoozing on the back seat of one of the top end saloons in the showroom after he had finished greeting early morning service customers or carried out a patrol of his empire to ensure it was rodent and strange cat free, after which he would enjoy a snack of finely sliced smoked salmon or tuna chunks, although he was also partial to the grilled diced chicken thigh's which a neighbour brought into the garage every Monday morning, as well as the cat nip and other treats left by a number of the customers who still still fondly remember the way he used to meet and greet them in the reception and used car showroom!
Best
Tibbs
From an accounting point of view when the expenditure is classified as non-sustaining capex it is not included in the calculation of AISC, it is definitely still a cost but if you are using AISC as a metric in your investment analysis you need to take into account that the waste movement expenditure is largely being excluded from AISC so you should not expect the finalisation of the program to have any significant immediate effect on AISC.
My problem with the waste movement program is not the program itself, shifting waste is a part of mining, it is the way it has been conducted. It is often more efficient to incorporate waste movement as part of ongoing mining operations rather than a separate stand alone project. Whilst this is not always the case, I would expect detailed analysis work to be done in order to arrive at the decision to instigate such a program, why have we not been made privy to at the very least a summary of this analysis.
The lack of information leads to the problem that we are all essentially guessing at the moment, whether it be your opinion, my opinion, Kees Deckerâs or anyone elseâs, none of us have sufficient information to make a properly informed analysis - with the waste movement program cost being measured in the 100âs of millions I find this level of disclosure to be unacceptable.
I reduced my CEY holding back to my core long term holding earlier this week, much as this pains me I am no longer prepared to take speculative risk on the current management team.
Dasut ,couldnt agree more.
No other economical option, for the future.
Spoonington I am not an accountant but whatever is said it is still a cost and it is a bit of both yes pre strip but pre strip after the fact.
Could it have been done differently maybe but to do it differently my thoughts are it needed to have started 2/3 years earlier so that when they got themselves in a tight hole and had nowhere to go when the west wall was unstable, they would then have other areas to mine and it would have had little or no impact.
Is this hindsight maybe but I would suggest management took their eye off the ball, because it is important that mines have flexibility?
Given that they didn't start 2/3 years earlier to open up the additional areas then yes I feel a contract to fast track waste removal is the way to go. What would be the alternative continue the way they were going and with the existing fleet this would mean a reduced number of trucks, loaders and support equipment available to mine ore and the need to mine ore at a lower grade with the reduced number of machines.
The other alternative is to buy a new fleet of equipment and undertake the waste movement in house and this wasn't deemed viable as writing down the full value of the fleet over four years wasn't cost effective.
In my opinion yes I think the anticipated benefits are reasonable and if the mine is going to achieve 500,000 ounces pa it is important to have the flexibility of a number of areas to mine and it sounds as though those benefits are now coming to fruition.
Do I wish the contract wasn't necessary most definitely.
Just in case no one knows Mr Tibbles was a favorite cat, long gone.
Of the poster.
Thanks Mr Tibbles here s a bowl of milk.
For some reason I no longer get notified direct of Live from the vault.
Andrew is of the same opinion as I.
Chileâs President Gabriel Boric said on Thursday he would nationalize the countryâs lithium industry, the worldâs second largest producer of the metal essential in electric vehicle batteries, to boost its economy and protect its environment.
The shock move in the country with the worldâs largest lithium reserves would in time transfer control of Chileâs vast lithium operations from industry giants SQM
and Albemarle to a separate state-owned company.
https://www.cnbc.com/2023/04/21/chile-plans-to-nationalize-its-vast-lithium-industry.html
---------------------------------------->>>>
Now imagine GOLD shooting up to $ 2800 ++
Don't think poor countries wouldn't nationalize their gold in situ at some strategic dollar value for the sake of 'national security'
Major structural changes within the options market, exposing COMEX machinations that were forcing gold to fall into the predetermined price range for decades.
https://www.youtube.com/watch?v=6vfrPo_E99Y
Just had a mail into my inbox at 1615 from Hargreaves Lansdown with ideas to benefit from rising gold. They recommend 2 shares: Barrick and Centamin. Text ref Centamin as follows:
Centamin is another gold miner, but with a much more concentrated portfolio than a global giant like Barrick, it offers something different.
Operations focus on the Sukari mine in Egypt, with another couple of sites at varying stages of development. A concentrated portfolio adds risk. We'd argue the added risk paves the way for greater upside potential. Nonetheless, if anything happens to the site in Egypt, there's little in the way of backup.
Production at the Sukari mine has been in decline for several years. But 2022 marked an end to that trend, production's expected to return to around 500,000 ounces from 2024, slightly ahead of some estimates. Reserves have been improving and an updated expansion plan is expected in the second half.
Diversification away from the Sukari mine is underway, with progress being made at the Doropo project in CĂ´te d'Ivoire. The latest project study is due for completion in the first half of this year, which could act as a near-term catalyst. The business is on strong foundations, with cash on the balance sheet and zero debt. But as with all mining projects, risks are high.
Like Barrick, costs have been on the rise, putting pressure on margins. The effects are being reduced to some extent by a $150m cost-saving programme due to be delivered by the end of the year. Progress so far has been encouraging, with $116m in savings delivered as at the end of the last financial year.
Its concentrated portfolio makes Centamin a higher-risk option than some of its larger peers. Thatâs reflected in a less demanding valuation, which we see as offering upside. Though, thereâs no guarantee.
Slightest news good or bad is an opportunity, remember it is all about keeping the dollar strong, fully endorsed by the FED.
The dollar as world trading currency is at stake,and with BRICS nations it is getting much harder to keep confidence in the $.
What can you all expect, its a Friday, panic selling as usual on figures that look decidedly dodgy.
Its said on Yahoo fiance ,"The puzzled look on the hosts of the yahoo fiance,dicussing the contadictory data is priceless"
Give it a few days then these same traders will see another chance at buying ,then again selling , wash and repeat as it is fondly known..
USD is getting stronger.
Keeping my CEY ISA positions on hold. Holding enough cash to buy back all of my 2022 Centamin positions.
In case you wondered why gold just got whacked- although wait to see how the liver and shakers interpret it âŚ
Hi Dasut,
Yes exactly as you say!
Tibbs