Firering Strategic Minerals: From explorer to producer. Watch the video here.
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https://polaris.brighterir.com/public/bacanora_lithium/news/rns/story/rg846zw
done deal now, will they buy the KDNC share next to get 100% of it all? Surely they will?!
"Ganfeng is reviewing a lithium plant production rate above the previously planned 17,500 tonnes per year." and "additional 500 hectares of land acquired at the eastern end of the plant site location to allow for future plant expansions" says yes, they will want KDNC's 30% share of the JV's and especially since we are led to believe they don't have the 3% royalty claim on them.
“The Company will further accelerate the construction of the Mexico Sonora lithium clay project, endeavouring to make it a leading project in the field of extraction of lithium from clay across the globe.”
https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0924/2021092400651.pdf
So how big would it need to be, to count as a "a leading clay project globally"? Surely way more than 35ktpa? Great news for KDNC.
I couldn't find a date on that "interim report" by Ganfeng, but the financials are for the period ending 30 June 2021. To be a leading project in clay extraction these days wouldn't take much, would it? Because it would be the only one in operation.
The date is in the file name - 24th September 2021
Comparing with Thacker Pass clay project which Ganfeng are involved with then Phase 1: 40ktpa/ Phase 2: 80ktpa.
Might explain those land purchases....
https://www.lithiumamericas.com/news/lithium-americas-expands-resource-at-thacker-pass-and-increases-phase-1-capacity-to-target-40000-tpa-lithium-carbonate
"Increased Phase 1 capacity of ongoing Feasibility Study to target 40,000 tpa lithium carbonate."
"Incorporating Phase 2 to target additional 40,000 tpa capacity. Feasibility Study is being designed to incorporate a potential Phase 2 expansion scenario to target total capacity of *80,000 tpa* to meet potential partner and customer demand."
Surely it must be as clear as day to all invested here/were invested here the reason why Ganfeng have forever been reviewing the mining plan and holding back announcing anything concrete until after they take control of BCN. Surely? For sure they are going bigger then 17.5ktpa, they've said as much, but how big? 40ktpa + 40ktpa looks likely to me. They even have the opportunity to start two operations simultaneously from the 100% North of the pit and the 70% (30% JV with KDNC) South of the pit, meeting in the 70% middle, if they have the resources and anticipate the demand. We'll just have to wait and see I guess, but I know what my money is on! ;-)
For the avoidance of doubt: I expect mining from the 30% KDNC JV to get started in earnest sooner than in the current plan of year 9, and that more than 72kt of LCE will be mined from these areas in total - significantly more, perhaps an order of magnitude more...
Actually it's year 11 in earnest...
So this is four-month-old wine in new bottles. And LAC is years away from production -- did they actually buy any land, or are these just mining claims that cost $250 per 20 acres? (Of course, with Covid raging in Sonora, I don't think Ganfeng will make any progress there soon, either.)
The nearby lithium project in Oregon, on state land, probably will start production sooner.
Yep it is totally over now, with a slight of hand, over 90% has been hit and everyone will now get 67.5p for their shares. Thanks for the input of everyone, even Bob! I will still be checking here from time to time and I hope in the fullness of time, some light is shone on what really went on behind the scenes here. Sure that I will see some of you good folk on other boards.
obs842 - This is one helping of wishful thinking ! I hope you are right from the PoV of being a KDNC shareholder, but given how Ganfeng work they will want this off KDNC for peanuts and will play hardball if they dont get it for peanuts, and given how KDNC work they will probably just cut their losses !