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Been here since October 2013. Waiting patiently to be rewarded.
True enough! It’s the waiting that kills the enthusiasm. Not long to wait now though for first target
Just think I could have sold at 15p in 2018 and not had to put up with your whining you little biatchhhhhhh ;-)
Osaka - I’ve just looked back and my first purchase was April 2014!!! 7 years. Armed robbery bird that is!!!
Shut up you rampant old poof
Osaka say - old Japanese proverb
'Money grows on the tree of persistence'
Think it's fair to say many of us have been ultra persistent over the years.
I happened to converse with Osaka a few months ago and he pointed to April being a key month then September. **** me if he’s right I owe him a massive bottle
He is sounding positive anyway “ the Minister for the environment and Climate Action, João Pedro Matos Fernandes, stressed again that it is very important for Portugal to have a lithium refinery and that everything will be done to make this investment a reality ”
https://eco.sapo.pt/2020/12/30/galp-esta-a-estudar-cadeia-de-valor-das-baterias-de-litio-admite-administrador/
Certainly the Energy Minister is behind the project. The Environment Minister may take a more cautious stance but we will see on April 2nd?
Sooooo the Portugese Gov is onboard?? ;)
Within the preceding article you will also see a link to this up-beat comment from the Energy Minister on the GALP deal with SAV:
“ To ECO / Capital Verde, the Secretary of State for Energy, João Galamba, said that "obviously it is positive" the recent news that Galp will acquire 10% of the Barroso lithium mine, in Boticas.
After Galp's presence on board the mega consortium for hydrogen in Sines has already been assured, together with EDP, REN and other companies, the Government is now satisfied with the ambition of the Portuguese oil company to invest in the supply chain. value of lithium batteries (from extraction to refining), other of the great flags of the Government with regard to energy transition.
To ECO / Capital Verde, the Secretary of State for Energy, João Galamba, said that “obviously it is positive” the recent news that Galp will acquire mining company Savannah Resources 10% of the Barroso mine, in Boticas, and keep 50% of its annual production of lithium, about 100 thousand tons.
“It is good to see Portuguese industrial companies betting on strategic value chains that the European Commission and other European countries also want to bet on. If Portugal and Spain want to maintain the relevance of the automotive industry in the Iberian Peninsula, projects of this nature, which look at the battery value chain in conjunction with the automotive industry, are essential to ensure the industrial relevance of Portugal and Spain in the future ” , stressed Galamba.
From the lithium mine to the batteries that power electric cars. “This is the Government's objective”, guarantees Galamba: “We do not have a project of a mining nature. We have an industrial objective. We want to have the extraction, the refining, the production of the cells and also, eventually, the manufacture of the batteries. Portugal can be at all times in this value chain ”, he guaranteed, stressing that it is in the refining and production of cells that the greatest added value is found.
The Secretary of State says that the Government is pleased with the involvement of Portuguese companies in flagship projects for the energy transition. “We are very pleased to see that large Portuguese companies decide to invest in this very important area for the future of Portugal and Europe. One of the European priorities is the idea of ??giving more resilience to strategic value chains, the area of ??lithium and batteries ”, he stressed.
It took a bit of finding IB, and the date is actually 2nd April! Looks like pants are already being kicked? Translated for your easy reference!
“ Directorate-General for Energy and Geology will carry out an environmental assessment in the eight areas that will be tendered for the exploitation of lithium. Deadline ends April 2.
The Secretary of State for Energy, João Galamba, issued an order for the Directorate-General for Energy and Geology (DGEG) to “immediately promote the necessary procedures to carry out an environmental assessment” in the eight areas that will be tendered for “prospecting and lithium research ”.
The order dates from November 2, 2020, but was published in “Diário da República” only this Monday. According to the document, "the procedure must be completed within five months from the date of this order", that is, by April 2 of this year.
For environmental assessment, DGEG may use the National Energy and Geology Laboratory and higher education institutions.
A month ago, on the 8th of January, the Resolution of the Assembly of the Republic was released that recommends the Government to “urgently carry out strategic environmental assessments in the regions where prospecting and research projects for lithium and associated mineral deposits are underway or planned, namely in the eight places covered by the public tender for the exploitation of lithium (Serra d'Arga; Barro / Alvão; Seixo / Vieira; Almendra; Barca d'Alva / Canhão; Guarda; Segura and Maçoeira) and in the three places with contracts already announced (Serra da Argemela, Montalegre, Covas do Barroso / Boticas) ”.
https://eco.sapo.pt/2021/02/08/governo-quer-avaliacao-ambiental-para-prospecao-de-litio-pronta-em-abril/
CM, hi. As you say, at some stage decisions actually have to be taken and simply cannot be kicked down the road. It has ever been thus but they certainly at the point where there is no more road and the rest of Europe and industry will simply source elsewhere.
Just wondering where the 12th April date comes from as decision day? Must have missed it. Thanks.
The takeaway for me is that the rest of Europe isn’t going to wait for Portugal’s government to decide whether it wants to be in the Li mining/ refining industry or not. Spain is moving ahead enabling deals with VW and a nascent Li battery supply chain. The plea from those in Portugal posted today who are also eager to make it happen in their country tells me that there is a worry that the Portuguese government may capitulate or stall due to the local/ environmental resistance.
The news from Spain could be considered helpful in that it illustrates that things are moving on regardless and Portugal needs to approve the environmental review to allow SAV/GALP to mine, refine and align with the VW EV supply chain. I believe the decision date is April 12 so hopefully this hurdle will be crossed and we can move forward.
SAV will not be supplying that battery factory....GALP won't either.....Cathode and anode suppliers supply cell makers, cell makers supply Battery factories unless the make their own cells in house. They might buy up the output to guarantee supply.
“ Volkswagen’s Chairman, Dr. Herbert Diess, backed the Spanish government’s bid to build a battery manufacturing facility near SEAT’s base in Martorell, Catalunya. “
Can SAV still supply them?.....
YES, 620 mile road trip mainly A class roads.
Refined in Portugal and transported a short distance to Spain.
Maybe a timely kick up the ass for Portugov?
...and it looks like Spain has seized the initiative!
https://www.google.co.uk/amp/s/www.greentechmedia.com/amp/article/spain-puts-european-recovery-funds-into-electric-car-push
“ Volkswagen’s Chairman, Dr. Herbert Diess, backed the Spanish government’s bid to build a battery manufacturing facility near SEAT’s base in Martorell, Catalunya. “
Can SAV still supply them?.....
“ Spain has lagged behind European peers such as France and Germany in terms of battery manufacturing plans but could steal a lead on the market thanks to the presence of lithium deposits on the border with Portugal.
Last month, a Spanish startup called Phi4Tech announced plans to build a lithium-ion battery factory in Badajoz, Extremadura. The batteries would be made with materials supplied by Lithium Iberia, which has a mining concession in Cañaveral, Cáceres.
Another mining firm, Infinity Lithium, is also looking to exploit the resource but is facing local community opposition, according to reports. ”
Maybe?
Sivad,
1. Carbonate is mostly made from Brine Li supply - Nothing to do with SAV
2. The surge in the short term for LFP batteries that use Carbonate is the reason it has run away a bit more than the other types
3. Hydroxide uses mainly Spodumene supply, which is what SAV will produce. Lagging Carbonate a bit due to 2. above. Even as Hydroxide starts to puch on spodumene is it's own market and prices will depend on the last of the reserve piles used up from last year and the output of the AUS miners in the short term....However the price that will matter is in 2023, by then the supply market will have settled into the new norm of EV expansion. Prices are predicted to be much healthier.
4. Current prices can increase sentiment in juniors as they await milestones but not the direct driver of price. Producers will respond faster to prices changes as it affects them directly.
SAV is clearly in pole position but to answer your question on CERA you will find Infinity Lithium (Spain ) involved. I don’t believe for a moment that the EU Recovery funding will end up in Portugal exclusively. I’d be surprised in fact if any of the European lithium players are left out. Building a strong lithium battery industry with multiple refiners and a raft of raw material suppliers including SAV will be a good thing for all involved.
To answer the question, we need to remind ourselves that ‘Savannah’s Mina do Barroso project was CHOSEN as the pilot mining project for evaluation to ACHIEVE the CERA standard.’ How many other Li miners in the EU were chosen ? If none, than surely SAV are THE CHOSEN ONES !
CERA is Certification of Raw Materials and was initiated by EIT RawMaterials. CERA is supported by the EC and aligned with the European Battery Alliance.
No wonder DA had a big smile on his face at a recent interview. Join the dots....
Sivad- the answer is that SAV is still a long way from generating cash and anything could have happened to the price of Lit, so in a sense it doesn't matter what the price currently is. Having said that this project in my view, to a large extent as a result of the participation of GALP, is much closer to fruition than it was 6 months ago, notwithstanding the important issue of financing is still outstanding. IT makes eminent sense for Europe to have its own Lit supplies and given the size of the motor industry on the iberian peninsula, it's not badly positioned although obviously transport to the rest of the EU is not that bad either. For all these reasons I remain a LTH.
Considering today's price of lit. carb. at Yuan 85000 per tonne, can anyone explain why no parallel increase in share price?
Thore Sekkenes (EBA Programme Director) placed SAV, EMH, INF & VUL within the most advanced 'implementation' category of his diagram, see Youtube: Mines and Money 24/12/20.
Each of those by their own merit could be used for research/data collection on "sustainable and social extraction activities in Europe in view of addressing the important social acceptance challenge." I personally think they will be looking at several projects e.g. is hard rock extraction (SAV) more or less socially acceptable than geothermal brine (VUL).
To the best of my knowledge programme alone places SAV in the forefront no matter the direction/aim of the research. Added to that SAV's future expansion potential could offer further opportunity for localised research i.e. social acceptance between different towns/regions/demographics of Portugal.