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Can anyone reassure me that we haven't strapped our saddle to the wrong horse?
I've just read the Next-chemX annual report and it's fairly bleak. No money, no production plant ready til q1 2025, high debt, no revenue, reliance on patience of shareholders and suppliers.
I've been in here about 2 years and hopeful the relationships in Bolivia can open doors, but Bolivia seem to want to move quicker than the boffins in Texas can comprehend.
Im resigned to more disappointment, because at least if there is anything good to come here I'll be happier.
I asked DH months ago if they had a contingency for Next-chemX not being the answer, he simply said "of course". But that could mean anything from "already got alternative suppliers" to "wind the company up".
Sounds like an extract from a clon annual report!
Haven't commented here for ages and, yes, the Next-Chem situation doesn't look as good as initially hoped for but the key here is whether CLON can get anything from the BOL authorities. I'm relatively optimistic that they will get something. If they do then financing will follow and the sp will rocket.
But don't you think that theyd only get something from Bolivia if they could prove the technology supplied is functional?
I asked DH about that report a couple of weeks ago, he said he wasnt phased by it and it wasnt unusual for a d and t company like nextchemx to have those sort of problems, if you read it through it also states that the technology is working and should easily be upscalable and they are already working on a pilot plant, Overall its all very positive . IMO
Leggylad - I don't think CLON would've got passed to go to the next stage if the BOL authorities had concerns about the technology.
I'd say that it is very significant that the share options were given last week... at a point when we're expecting negotiations to start/take place on licences. For me, this is a very good signal - my guess is that they're very much still in the mix.
I have fingers and toes crossed that you are right. Whatever way you look at it, the risk /reward at this price is extremely attractive.
It will be around a month I expect until any significant share price increase.
That article raises several concerns about how the Bolivian government are acting as they race to monetise their lithium assets. It concerns me moving forward. However, if the tech Next Chem X has is proven at substantial scale some of the problems can be mitigated. The political landscape and expertise within Bolivia still provide cause for concern. I hope they are turning a corner.
Https://www.ylb.gob.bo/resources/img/2024/20240414.pdf
Llipi (Potosí), April 14, 2024 (UCI-YLB).- With the signing of an inter-institutional agreement, the National Strategic Public Company of Bolivian Lithium Deposits (YLB) and the representatives of the community of Río Grande (Potosí) agreed to work together on water, the environment and the development of the lithium production chain, reported the president of the state-owned company. Karla Calderón. "It was an arduous work, with important advances, we responded to the list of demands of the community members, we laid the foundations of a relationship for the future, prioritizing a good coexistence with the community surrounding the project and contributing, in the best possible way, to the development of the company," he said. The agreement was signed on Saturday night, after 20 hours of dialogue, in a meeting with authorities from Rio Grande, headed by the Deputy Minister of Exploration and Exploitation of Water Resources, Raul Mayta, and the president of the state-owned company, along with her technical team. According to the signed document, the community of Rio Grande is committed to contributing to the development and implementation of the activities of the entire lithium production chain, in addition to agreeing on a "good relationship" with YLB, within the framework of the commitments assumed. The agreement establishes the rational and sustainable use of water resources for the industrialization of evaporitic resources; in addition to carrying out periodic water analyses, in coordination with the community's Water Committee. It also provides for joint cooperation in the management of studies in watersheds within and outside the jurisdiction of the Rio Grande to identify alternative sources of water supply for the community and YLB operations. YLB will also install drinking troughs for domestic livestock and wildlife in the area. The agreement includes training for community members in environmental monitoring, support in the area of health, promotion of tourism, among other points. "It is important to note that this is the beginning of a constant and permanent dialogue between the community and our YLB. We are the government of dialogue and today we are complying with facts," said Deputy Minister Mayta. The signed agreement puts an end to the mobilizations and pressure measures in the vicinity of the YLB Industrial Complex
It seems those issues are being resolved
……..or any significant fall and winding up of the company. ……let’s be objective and balanced.
My reply was to middleagedbloke.
He said it could be a month before a significant increase in sp. My response was on my reply to home.
If they are not chosen and technology does not work then so would fall.
DH must deliver.
Time is ticking…..
https://www.forbes.com/sites/energyinnovation/2024/04/14/2024-could-be-the-year-for-american-lithium/?sh=7809eb502dc6
I might be wrong, but I'm sure CLON talked about 'working with local communities' regards lithium in RNS's.
Yes, you are correct Rebel, DH has been working/talking to the local comunities and indigenous people for quite a few years now.
Yes that is common knowledge.
However as nice as it is it’s not the key factor to be awarded a deal,. The primary question is does the technology award and can Clon be trusted to actually deliver a real project?
A few more weeks and we will find out the answer.
@Pauly80
Getting the communities onboard matters, they will want to know how they are going to benefit from these projects? There will no doubt be social and environmental responsibilities as part of any agreement.
Important yes to important at a later date and currently not essential. What’s essential is that the technology works well. Then IF that is the case then they will look at other aspects like community involvement.