Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Great post Tedoby.
I remember doing calculations on Zulu 3 years ago
Looking realy good from here
GLA
Hammered11
I posted on Twitter earlier. Please feel free to retweet!
https://twitter.com/mrcod72/status/1364891676129517569
No Hammered11 I haven't.
Please post it on there if you want.
Tedoby,
Thanks for the reminder of the Zulu potential.
Something very big is happening behind the scenes, that's for sure.
Please GR, you've messed up so many times, you owe us this :)
Tedoby ,
welcome back
your knowledge will help all of us .
So one question , how much bigger will the epo zulu lithium deposit be compared to the worlds largest lithium mine.
Are we talking double or more ?
so the plan is to DFS Zulu and as prem start get he epo and extend DFS into new area around Zulu
Does anyone have links to maps that show the zones that Tedoby references . I think we need to visually understand the previous scoping drill points and size of Zulu and EPO.
amazing .
Tedoby, many thanks for your very detailed breakdown of Zulu, and we get half of what you talk about here this would be fantastic. Hopefully we can get someone in to rid us of George who can bring this to fruition in benefitting us long suffering share holders.
Have you posted this on twitter, as it would be interesting to see what the reaction would be?
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Just a reminder on Zulu whilst we await news.
I like to think of the drilling campaign on the current Licensed Area as having been carried out in three phases even though they are all connected and have not been separated by Prem in it's RNS's. It makes it less complicated and easier for me to understand. So using my own nomenclature then Phases 1,2 &3.
Phase 1 I regard as the work done to get to Prems PEA or Scoping Study as some prefer to call it. As all fairly well documented and recorded as it needed to be by BARA to comply with the requisite SAMREC code. The SS was derived from an analysis of the drill results if just 15% of what became called “the main strike”.
The SS told us that over 20mt’s of the Pegmatites identified on the main strike contained 1.06% Li2O in roughly one third Petalite and two third Spodumene proportions. It also gave us the grades for the two types which were particularly high in the Spodumene Pegmatite and told us the lithium had a particularly low iron content which made it a world class premium quality.
All fairly standard stuff but just to emphasise it was very minimalist as it only represented about 15% of the main strike.
The campaign continued along the main strike to its end. This is what I regard as Phase 2. At that point and from the logs Prem then gave us the overall estimated Pegmatite resource of up to 160mt's of grades around 1.o6% and we see that estimate being used quite often. Again all relatively straightforward and easy to follow.
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What seems to be less well known or perhaps understood however is that in Prems eagerness to delineate the total resource under its license Prem carried on drilling. This is what I call Phase 3.
One of the strikes discovered during this phase was simply an extension to the main strike . But there were three further strikes discovered and these were categorized as Step Out Zones which were entirely separate to the main strike.These were appropriately called SOZ's 01 to 03.
The Pegmatites in SOZ's 01 to 03 were shown to contain predominantly very high grade Li2O in Spodumene with very little Petalite and Lepidolite encountered. Highly encouraging as it affected the sites proportionality and potential and well as improving the average grade of 1.06%.
Assay results from ZDD-45 were particularly noteworthy if not world beating where a length of the core was found to contain a bonanza grade in excess of 4% Li2OGeorge Roach is quoted as saying in an RNS at the time “Not often is a grade of 4.24% Li2O seen in drill core” An understatement if ever there was one.
There would have been Tantalum present too in all the cores as it’s so prevalent. But to date it's overall extent is undisclosed and rarely mentioned despite it’s very high value. Except to say lately you may have heard it said that Prems engineer believes the Tantalum is present in such quantity that it’s of such value it’s likely to cover all the mines Cash Costs. If that’s right it deserves never to be taken lightly. Grades as high as 200ppm were identified in the SS.
The additional strikes identified in SOZ’s 01 to 03 along with the main strikes extension ran up to the boundaries of the current licensed area and by interpolation far beyond.
This as well as a “walkover survey” of the adjoining land by experts could well have encouraged Prem to apply for the EPO now awaited.
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In one of the Proactive interview you may recall GR also saying that he believed the additional EPO area was on strike as it was quite significant which I thought was quite an encouraging comment.
If you take the additional area of over 20,000 ha under application as having a similar density and grade of Li2O then Zulu if developed would almost certainly prove to be the largest hard rock lithium mine on earth. Not just that but one of the highest quality too. That's how big and valuable the lithium development at Zulu has the potential to be.
What the EPO area will do is give Prem more flexibility and options on how it develops the asset and obviously a more profitable mine not simply because of the potential in Au etc that’s likely but simply because of the economy of scale. It’s like to mean the difference between a mine producing Concencentrate and one producing Carbonate.
The price of Lithium Carbonate Equivalent is currently at a little over $11,000/t - an increase of over 40% in the two months this year having fallen from around $20’000/t at its height a few years ago. Many experts believe we will see a new high in the not too distant future as lithium and related commodities start on what's being called a new super-cycle.
Based on reasonable assumptions the Pegmatite with Prems current license area should be at least 250mt’s at an average grade of over 1.1%. That puts Li2O there at 2.50mt’s. The conversion from Li2O to LCE is 2.473 which produces 6.18mt’s of LCE. It follows that the in-ground value of lithium under current license at a price of $20k/t would be a staggering $123.600.000.000 or thereabouts. Not to forget the area of the EPO is around 57 times bigger!
There’s just a little more patience needed, that's all here! I firmly believe the Mining Affairs Committee has recommended and approved Prems EPO application. All that remains now is the President to sign it!
All IMHO .