Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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We used to have 3% interest in western lithium
interesting that this re-establishes the link between sonora and what we’re then wlc now lac… for anyone that remembers when it was us that had strategic investments in both… i can’t help thinking about tesla’s… not that you can go anywhere without seeing one these days… ;)
only teasing evan!!
I suspect it will be sooner.
"next 2 to 3 weeks, maybe sooner" ummm !! let me have a thunk about that one ,,
Its getting very exciting, which is first, Lithium news or Iron ore news.
We are going to get some big news in the next 2 to 3 weeks, maybe sooner.
https://news.metal.com/newscontent/101738763/Lithium-Prices-Likely-to-Hit-New-Highs-amid-Supply-Shortage-Post-the-CNY-Holiday/
On the demand side, the rush to install NEV batteries and the substantial expansion of the lithium battery sector at the end of the year led to a significant increase in the demand for upstream lithium salts, with a raw material supply deficit of up to 28%,
I'm sure Ganfeng are planning 5, 10, 20, 50 years ahead, with the prices we are seeing today the cost to buy the JV's shouldn't be an issue - 437% profits increase, I bet even Ganfeng weren't expecting that level.
Nice to see Sonora news just a day after BCN delisting, what will the next few days bring?
Yes it's an interesting deal, maybe it will encourage Ganfeng to buy our JV from us and mine in the areas not covered by royalties (if they lose the court case appeal)
Now I've had time to read thru properly: Sonoroy Holdings looks like its been set up by the COE estate and TRR; the estate will hold 50% thru Marmottes Capital Ltd and Trident the other 50%.
I don't know about Colin Orr Ewing, this is more like J R Ewing !
The good thing for Cadence is it shows there is third party interest in the resource.
The bad thing is that a Royalty is very different from a JV that could be many years off being mined and would/could be subject to toll treatment. If TRR are prepared to pay 25M US for 1.5% royalty can we infer a value of Cadence JV areas?.........tricky.......but this Trident buy in has to be a positive for KDNC.
Perhaps we are still under some sort of NDA .
https://youtu.be/DDGhlucZK4Q
Interview
@Barksy - Absolutely he should know. If Sonoroy are paying $ 52M then u would assume they knew what applied to the last square metre. If TRR have RNS'd those concessions and they're saying El Sauz is included then he should update us ?
remember ps words!! ganfen do not want to take over bcn!! what happened there then!!
who cares?? ,, Cadence will never see value for their first 'once in a lifetime' project ,, Ganfeng will see to that!!
I would think that Kiran would know what royalties apply to the concessions he/we are involved with !
@Mullins......intriguing !
So the royalty is being bought by 'Sonoroy Holdings' of which Trident owns 50% . If the court finds against COE estate then Tridents money is returned by the buyer (Sonoroy)........Sonoroy must be confident with the royalty claim unless they too have a get out clause.
TRR say the royalty is over La Ventana, Buenvista, El Sauz and San Gabriel. El Sauz is one of the JV concessions so Keirans 'understanding ' that there is no royalty claim over JV areas is contradicted.
Note that TRR do not mention Fleur, ElSauz1, or Megalit.
Cadence should RNS this I'd have thought; they're probably trying to work what's going on !
..... indeed one of the conditions might be that the royalty is formally declared legally free & clear of any on going or future challenge I guess ....
Look at the timing of the announcement though .... the day after BCN's delisting - is that an ouch I hear in the background?
Presumably the price has been discounted too, given the on-going litigation risk?
‘ The Royalty applies in proportion to Bacanora Minerals Limited (Canada) ownership of the concessions comprising the Sonora project, including to La Ventana (Concession No. 235611), Buenavista (Concession No. 235613), El Sauz (Concession No. 235614), and San Gabriel (Concession No. 235816), as well as a 5km area of interest.’
Lots of bits and bobs where we are involved;
Yes I guess in a way it’s slightly forces Ganfeng to get a move on with an offer and of course in the meantime the news of Sonora and who owns what reaches new bigger ears !
the announcement does say subject to 'conditions' & I wonder what they are, I guess there may still be some potential legal avenues on the legitimacy to clarify/mull over by so as usual not a nailed on guarantee that it will progress ....... but if it does I wonder if the plan would be to sit out & wait for the royalties to start flowing or whether the royalties might be offered for sale to GFL or whether GFL might make an approach to purchase .... as so often answers/events just prompt more questions & still the current mining plan has such a small amount of the JV1 area included ... how much to buy us out of the JV's in their entirety .... Hope we find out soon :-))
This deal serves to highlight how undervalued we are at present.
They normally do an interview after an RNS, I will keep an eye out for it. ATB
thanks… i’ll have to stick with the single now then… it is dry january after all… $45m…
i’m happy there’s still plenty bunce in that to cover anything you’d like to throw back ob…