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and at the same time buy kdnc out of the mexilit and megalit jv’s… or they and / or we farm in another jv partner who is looking to buy lohm for about $6,000/t… directly and / or via kdnc’s 30% jv’s… ;)
@TC, "now here’s another thought… what if msb… la ventana… is the surplus… not mexilit/megalit…
The Megalit concession is held under MSB until it gets 'Title approval'.
that’s correct daz… maybe a bargaining chip… as that would need to be moved over to megalit before any potential acquisition of msb by litio para mexico could go through…
10 concessions (fs page 22 table 4.3.1)…
3 owners… msb / mexilit / megalit…
8.819mt drilled out resource…
4.515mt drilled out reserves…
who owns what…
8.819mt drilled out resource (fs page 122 table 14.15.2)…
msb… 3.904mt (44.27%)…
mexilit (bcn)… 3.441mt (39.01%)…
mexilit (kdnc)… 1.475mt (16.72%)…
4.515mt drilled out reserves (fs page 130 table 15.4.2)…
msb… 1.718mt (38.05%)…
mexilit (bcn)… 1.9579mt (43.36%)…
mexilit (kdnc)… 0.8391mt (18.58%)…
what’s for sale…
All of it, clearly we would sell the job lot for the right price, and Ganfeng already put the feelers out for a "strategic stake", it would make sense for Mex gov to take 30% of it all, allowing us to sell out and Ganfeng to own 70% of it all.
Exclusive: Ganfeng eyes US OEMs for “strategic” stake in Mexican lithium project | Benchmark Mineral Intelligence
https://www.reddit.com/r/CadenceMinerals/comments/tz8dyd/exclusive_ganfeng_eyes_us_oems_for_strategic/
nearly… but i was thinking more along the lines of plan a…
bacanora sell msb (la ventana) to fund our ($2bn @$6,500/t lce) mexilit scoping study debt free… we sell our 30% mexilit jv to tesla… tesla get their lohm for $6,000/t… job done… 100tpa sonora lithium plant fills a huge gap in the lithium supply chain…
oops 100ktpa… ;)
@tomcat. I personally believe two 50ktpa operations in Sonora is quite likely, one in the North of the pit, mostly on the LV area, and one in the South of the pit, 100% on our JV area, the two meeting in the middle. The only real question I have at this stage is will we accept an offer before or after Ganfeng announce these plans in their updated DFS? I suspect they'll want us accepting an offer before then, but we may decline if not sufficiently attractive, happily waiting until the after the updated DFS is made public.
Pretty certain deals are in the air - IMHO it's only a matter of time before the market gets wind of them, through official channels or otherwise... ;-)
To be clear I'm talking 50ktpa Lithium Hydroxide Monohydrate (LiOH.H20) = 44ktpa LCE, which is the optimised, and efficiency savings I anticipate on the original 35ktpa LCE mining plan and plant designs, similar to what Ganfeng were able to achieve for Thacker Pass.
yep… with mexico coming in though… they may need 3 now…
doesn’t the fs fig 15.4.1 meet at piecework.quench.jams… with the plant at leisurely.photon.magnificent… fifo of convertible.fresh.vitality…
Anyone found the source/verified this article yet? It's a fairly reputable news outlet from what I can see, but I always prefer the horses mouth! :-)
https://www.reddit.com/r/CadenceMinerals/comments/wljuxm/mexico_energy_minister_reveals_name_of_state/
https://www.bnamericas.com/en/news/mexico-energy-minister-reveals-name-of-lithium-state-company
It's this quote that I'm looking to verify: “Mexico looks to buy out existing additional rights held by UK exploration giant Bacanora”.
Big news for us if true...
@observer842,
nothing concrete, although this implies take back (could of course be buy) still it suggests the Bacanora concessions are the focus:
https://eldiariodecoahuila.com.mx/2022/08/14/pugna-en-puerta-por-fiebre-de-litio/
Proven its wealth in minerals such as lithium, the Mexican government is getting ready to take back the concessions delivered by PAN and PRI administrations to private parties; Bacanora Lithium , located in Sonora , seems to be the most attractive project.
However, there is another area where lithium appears on the surface, and that federal officials refuse to see: the one located on the slopes of Cerro Prieto, in the Mexicali Valley.
#####
It would make sense with recent news and potential for the Mexican car industry through foreign investment.
Still a little more clarification would be welcome.
That’s promising, the only way they can take it back is to buy it. It would be a win win from all sides if they buy us out and satisfies their nationalist agenda and as a minority they can let Ganfeng do all of the hard bits while they build up their own capabilities.
That's not nationalisation though, that's buying into a private company lol, (may as well buy shares in Ganfeng).
IMO there's been a reason the government haven't been forthcoming in granting title rights for the Megalit concession, this could be it!
They will want near term production and the partnership with Ganfeng is the only way to achieve that.
P.s I didn’t say nationalisation
You used their 'nationalist agenda' which would imply taking back control or buying something outright from a private company.....'nationalisation'.
I just can't see a nationalist agenda being satisfied by Mexico becoming a minority JV partner to the Chinese.
Sure, I was meaning they will want to have a stake in the project as reported by BN Americas. They have already accepted they can’t nationalise any licenses that are granted if they are explicitly for lithium. There is nothing they can do about it without causing international disputes, buying a stake is a great way to look like he’s delivering on his promises (nationalist agenda) and taking no risk because they don’t have the expertise so can rely on Ganfeng.
This also allows them near term success rather than being several years out.
The 'rumour' was them buying out the existing additional rights. Suggests anything not in the 'old' mine plan. So San Gabriel, Buenavista or Megalit IMO.
Whilst I agree they may want to exploit Ganfengs expertise, (they may already have secured it by not challenging or taking back the current concessions) but the Mexican Govt is trying to get bilateral agreements with Bolivia and Chile regarding Lithium extraction and production.
Absolutely, but Ganfeng we’re also looking for “Strategic Investment” in Sonora let’s see how it plays out. Any of the possibilities seem positive overall for KDNC going forward.
Agreed, as long as they don't fall for the old Yangibana rope a dope ;-)
I'm seeing more and more talk of public-private partnerships for "Litio para Mexico"
Gonzalo Monroy, general director of the energy consultancy GMEC, maintains.
"We are very far from a commercial exploitation. The times here matter because those are the ones that are going to determine the commercial opportunity, are we really in time to develop this?", he raised.
For Monroy, the big problem with the use of lithium in Mexico is that the laws are designed to delay that progress. Our country has to develop technology for mining, a situation that will be difficult to achieve if the nation does not associate with private companies. In addition, its exploitation is extremely expensive: in Chile a single lithium mining project had a cost of 10 billion dollars.
https://www.lapoliticaonline.com/mexico/politica-mx/mexico-ante-la-oportunidad-de-perder-las-bondades-del-litio/
‘ Litio para Mexico"- lithium for Mexico
Wonder how Our Rem Mexico is doing?