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Hi thelearner
You could be right reading that.
The amount of equipment going in I would have expected the road to be one of the first things to achieve.
The Decision to Mine appraisal by both company Boards looks a bit of a formality what's happening on the ground , there's no going back now their going for it.
There's only 1 Havieron:))
ATB:))
Hi Bamps
From the Juri JV RNS - so the $50m loan for "early works expenditure" does not cover Telfer mine modifications, or the hail road, it may read anything that comes after "decision to mine" which would include in my mind anyway, underground mining structure.
However - until a PFS is produced, I read that Greatlands share of all costs t PFS is still capped at $20m.
Keep posting here Bamps - you are some of the others are what makes looking here still worthwhile.
thelearner
In order to support the planned acceleration of the construction of a box-cut and decline and a faster rate and scope of planned spending on exploration activities, Greatland has agreed to fund 30% of Early Works and Growth Drilling Expenditure prior to completion of the farm-in :
o "Early Works Expenditure": all capital and operating expenditure incurred during the Farm-in Period for activities such as the construction of a box-cut and decline and associated early works including camp, access roads, bore fields, offices and related surface infrastructure, but does not include any expenditure incurred for modifications to the Telfer Gold Mine processing facility or for the construction of any haul road (which are subject to a Decision to Mine). The commencement of the construction of the box-cut and decline is subject to receipt of required approvals.
o "Growth Drilling Expenditure": all exploration expenditure in connection with growth drilling on that part of the JV Area being outside of the area of the Initial Inferred Mineral Resource which is expected to be delivered in December 2020.
o Greatland's obligation to contribute to Early Works Expenditure and Growth Drilling Expenditure, in aggregate and prior to the completion of the Pre-Feasibility Study, will be capped at the amount of the Facility A Commitment (US$20m) or such greater amount as provided by Newcrest.
Toledo. Firstly I'm not worried! And never stated I was. We know 50 million loan is all Hav related and we are 3 years away from revenue as such what are our current establishment costs per annum and what are our commitments on Scally and other Tenbements from thus we can deduce how far the 7 million goes and yes if we need to raise additional funds. But how much does our experts know on the fundamentals ? Any Facts would be appreciated. Glh
Tymers, drill plans for SWAG (which is the only planned drill campaign at Greatlands cost planned this year) I am assuming will be published when the RNS lands this week or next on the final batch of last years results. I expect that RNS will include the words fully funded for 2021 as £7m should be plenty for a simple exploratory campaign.
I think we can all stop worrying about an equity raise now if anyone has these concerns. £800M market cap business with cash flow and profit on the horizon will allow bank borrowing if it’s needed. I also think another JV would be available to us with Newcrest but the terms of that JV would be much better if we had found something meaningful.
The days of worrying about GGP having access to money are behind us now in my view.
Tymers- did it not occur to you that generally we wont have access to those sorts of figures?
And continually re-asking it while complaining that no one has answered could very much be considered a subtle deramp by a trader?
I asked many questions on GGP costs for 2021 and no one can confirm.
Taking away 50 million loan which has to be paid back! What are GGP's running costs to include Scally ongoing and how far does the 7 million last? Glh
I had an interesting discussion the other day whether the vertical shaft will be constructed from the bottom up or downwards.
I've only got experience of going down and the other chap of going up.
When rereading the mining docs application though it reads about sinking the shaft, so it looks like going downwards.
I believe it's the water extraction that has decided this, there are 3 aquifers to get through and need draining before recommencing the shaft.
One of the diagrams shows numerous drill holes sent down to test the water table. These will probably used to drain the aquifers as the shaft goes down.
If you draw water out of the shaft this will have the effect of drawing water towards the shaft. Better to pump from surrounding holes to draw water away from the shaft.
The box cut base is founded through the first aquifer and I think is 5m into it. The rock from the aquifer is being used for the roads, being saline I think is the reason for the roads looking whiteish.
The water from the top 2 aquifers is suitable for reverse osmosis to make it potable, but the lower one at the base of the Decline is highly saline and will be sent to the evaporation ponds
Hi Learner
As far as I was aware the loan covered Greatland's share of the Decline, exploration and infrastructure and surely the new road is part of the infrastructure .
There's a lot of infrastructure along the road including drainage, turning circles,passing bays, petrol interceptors.
Ggp surely will have 30% of the cost of all this.
ATB:))
I also think that we should be helping each other passing on what we have discovered and correcting any potential misconceptions on this board.
I have read recently GGP with the $50m loan are fully funded all the way to production.
Please carefully read the Juri JV RNS - this is not the case. The $50m loan - if it is all required - covers GGP share of costs for drilling to FS, FS Costs and costs of the exploration decline.
It does not cover any further project costs like the road to Telfer (if that's what the PFS/FS decides is how to transport the ore), the underground mining structure, any modifications required at Telfer or probably the initial stoping operation costs.
That's how I read it anyway - does it concern me - not in the slightest, but the time that funding is required, GGP will easily be able to raise that through a loan, or sale of the 5% at FMV - if this goes ahead.
Thats a lot of earth. Can't wait to see the pictures of Hav developing into a functional mine. Exciting times ahead! If we strike elsewhere, would Telfer be able to cope with the different minéralisations? Let's hope we have such a nice problem to think about in the coming years.
Should have said 40-50 road trains a day!
Looking at the Hannam note where they are saying 2m tons of High grade from late 2023, this they say is truckable.
2m tons divided by say 300 days a year allowing for breakdowns, servicing and time off is around 40-50 road trains varying from 125 tons to 160 tons.
I still believe some of the waste rock needs to be dealt with at Havieron.
I haven't seen any plans yet for additional waste rock tips apart from the Decline waste.
The mining licence trackway through Scallywag doesn't go as far as Blackbeard/ Kraken.
Is this due to the fact that they are waiting for exploration results so the trackway route can be finalised?