Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
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"the Aussies haven't figured out how to get lithium from rocks."
Only because it hasn't been worth their while. Nobody was extracting Lithium from brine using DLE, but they are now. Necessity is the mother of invention. Now the value of the end product has soared every man and his dog are looking at ways to extract Lithium from various sources. I doubt Tesla bought 10,00 acres of Nevada without doing their homework on Lithium extraction from clay.
LAC is not a bad stock, reasonable people can disagree about whether there are better junior lithium miners. I bought BCN because of the Ganfeng involvement (and made a profit). There are those who claim that LAC doesn't know how to extract lithium from clay without Chinese technology controlled by Ganfeng, but I don't think it's that difficult. On the other hand, the Aussies haven't figured out how to get lithium from rocks.
Ganfeng own 19.9% of LAC so a major shareholder but not anywhere near enough to cause problems. Ganfeng own 46.7% of Cauchari-Olaroz but there are really good safeguards built into the JV agreement which would prevent Ganfeng from taking control or blocking any development unlike Sonora. LAC own 100% Thacker Pass in the USA. The US government will not allow Thacker Pass to become controlled by a Chinese company so Ganfeng are unlikely to be able to buy LAC on the cheap unlike Bacanora.
And of course LAC's major shareholder is Ganfeng. If you can't beat them, join them.
I sold out of Bacanora in August and invested in LAC, sold some LAC shares at a high and now hold £56,701 of LAC shares at a cost of £26,435. I feel sorry for all the investors who held on hoping for better things. The investors were totally screwed by the BOD who are employed to look after the investors interests.