Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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That’s peanuts for some people we know ;
Circa £100m would be "fair" for everything at this point based on recent Ganfeng transactions. See this post and the comments:
https://www.reddit.com/r/CadenceMinerals/comments/vpr5w7/due_diligence_lsekdnc_cadence_minerals_asset/
WOW! That’s huge news for us (if substantiated) if we’re selling to the Mexican gov! No wonder KM sounded happy about Sonora then, might explain why they may not need to raise funds for 49% of Amapa that would be a huge win win if it’s at least $30m. Fingers crossed!
At the very least if this article is accurate with Mexico wanting to buy rights then this implies the concessions have the rights to exploit lithium and that was the conditions under review!
looking extremely positive if this is the case, obviously worth waiting for further clarity - but if it is.........................
Odd?
August 11th
https://www.bnamericas.com/en/news/mexico-energy-minister-reveals-name-of-lithium-state-company
China’s Gangfeng has the rights to the country’s sole active lithium project, in Sonora state, with investors hoping it may become profitable in the next decade.
Mexico looks to buy out existing additional rights held by UK exploration giant Bacanora
#####
I'll take this s my notion of news, blimey could we be in the spotlight?
Still another article that doesn't mention the concessions reviews!
Seems we have the national lithium company name.
Lithium for Mexico
From this twitter post and considering who's account it is The head of the Ministry of Energy seems to have omitted the negative references to 'reviews'
https://energiaadebate.com/revela-nahle-nombre-de-empresa-mexicana-del-litio/?utm_source=rss&utm_medium=rss&utm_campaign=revela-nahle-nombre-de-empresa-mexicana-del-litio
As part of the reform to the Mining Law, the government headed by President Andrés Manuel López Obrador reserved the exploration and extraction of lithium as an exclusive activity of the Mexican State , with the exception of the concessions that were already granted to the private sector.
Among the current concessions , 10 stand out that were granted to the Bacanora Lithium company, in association with Gangfeng, which have an area of ??more than 100 thousand hectares in Sonora.
Preliminary information indicates that there are 8.8 million tons of equivalent lithium carbonate in this mine .
The initiative, which was approved on April 20 , also included a 90-day period for the creation of a national company dedicated exclusively to the exploitation of the mineral. This term expires on August 24.
C, unbelievable!
My wife and I have also just returned from AGM, unfortunately a little last due to train cancellation.
In answer to my questions Kiran stated
a] that finance for Amapa to take us 49% is expected to be 60/70% debt and balance in equity.
MRE and PFS were likely to be available "relatively soon".
b] There were no specific projects in mind which would require any immediate cap raise--we have just
authorised £1m nominal increase in share capital.
c] The shipping of the stockpile of ore from Santana will commence when there is a profit margin of at
least $20 per ton. Even though shipping rates have come down we are not there yet. We are not under
pressure to repay bank creditors for time being.
A great shame more shareholders were not present as Kiran and Andrew were very willing to remain after
meeting and discuss any aspect of the company with those that attended.
Been waiting since 2014 for any Sonora jv development and not holding my breath. The Sale of the @20% bcn for 7m was a disaster too. How did they survive the agm. Please give us shareholders something to be happy about
incredible considering our lithium assets and the unstoppable growth:
Tesla Semi launching this year, can't be sure this will qualify for the tax credits?
https://insideevs.com/news/603515/tesla-semi-deliveries-later-this-year/
interesting numbers and EV's are most definitely shifting to battery
https://insideevs.com/news/603297/china-plugin-car-sales-forecast-2022/
Thanks @Zoom56 for the AGM coverage.
Thanks @Zoom! I personally find it incredible that we aren't much, MUCH higher on the Sonora potential alone, and I bet the BoD are scratching their heads on that one too. It truly is an odd one I'm putting down to not enough Reach and Understanding from those who are Reached. I mean, all of us on here Understand what might be coming right? Right!? lol. OK, we might all Understand, but perhaps we don't Believe our BoD can deliver on this potential? There's the RUB! ;-)
I'm happy to be fully locked and loaded at this SP. :-))) For those wanting to do your own research, my analysis for those new to KDNC can be found at:
https://www.reddit.com/r/CadenceMinerals/comments/vpr5w7/due_diligence_lsekdnc_cadence_minerals_asset/
Very happy all resolutions passed. :-)))
@EVB no timeline given other than the stipulated A$4m to be spent on exploration costs in the next 3 yrs. However, I expect they may tempt would-be investors with a glimpse of the potential when they publish their ipo.
https://www.aquis.eu/aquis-stock-exchange/for-investors/announcements?view_news_id=3619833
So have we already started drilling it do you know?
@MBW - i meant 90%+ for items 1,2&3 and 83% and 87% if I recall correctly for items 4&5.
@EVB Kiran stressed his keenness in seeing the Evergreen drill results - Core now have 13.3Mt resource at measured and indicated. Will be amazing if they come close to those results :-))
Nice one Zoom, the market will catch on eventually! ;-)
I expect anything positive on Sonora will come as a real surprise to the upside for us.
I am very optimistic around Evergreen having seen Core's BP33 drill results, that could be massive for us too.
Zoom, much appreciated.atb
Just back from the agm hosted by KM & AS. All votes passed with 90%+ in favour of 1&2, 80%+ for other agenda items. No new news (as expected) but to expect Amapa MRE shortly and PFS soon after. Positive vibes (my take) on outcome of both MRE and PFS - Evergreen drill results keenly anticipated when they’re completed and results published. Amapa is the main focus and sticking to the original 5.8 mtpa keeps the ESG approval timelines as short as possible - any more adds 12mths + to the already 18mth approval time. The BoD are aware the mkt is on tenterhooks re Sonora( Kiran’s words). No news there but the politics has to play out. That’s about it … back to waiting a while longer. ;-)
My bad, ( trying to act sic now )
13:50 badly phrased,
Re education, mine, not to educate.
Not long after the agm, Mike maybe the following morning.
Afters Ban, Eric,
Eric has the moniker you were rudely given made you a hit with the ladies?
.....just waiting for the AGM RNS at the moment....
For the benefit of those new looking in - no change from last week. Follow the link for better formatting, corroborating links and much more.
https://www.reddit.com/r/CadenceMinerals/comments/wiwi98/weekly_discussion_thread_upcoming_news_icymi/
===[
I make the TL;DR on upcoming news as:
Amapa Iron Ore: First right of refusal to increase ownership stake from 27% towards 49% of a project that had discounted cash flow valuations of $1.2B Anglo & $1.66B Cliffs and an initial valuation when purchased by Anglo of $3.2B in 2008.
Anticipated order of events: MRE, PFS, 22%, IPO/DFS.
Shipment of stockpiles recommencing when conditions are favourable.
Sonora Lithium: In conversation with Ganfeng regarding KDNC's 30% JV's. Details on Ganfeng's optimisation and expansion ambitions and potential impact on KDNC of massively increased stage 1 plans to 50ktpa of Lithium hydroxide and beyond forthcoming, including strategic OEM investments, and consequences of recent nationalisation votes.
Anticipated order of events: Confirmation Lithium tenements are valid, publication of expanded DFS, new off take/investors.
Recent events highlight Ganfeng have the funds and are keen to do deals.
Evergreen Lithium: Initial public offering.
Yangibana Rare Earths: Finalisation of agreement to take A$9m in HAS shares in exchange for our joint venture areas.
EMH Lithium: DFS/partner/offtake/funding announcements for phase 1 of the project.
My Latest valuation estimates and Due Diligence by u/EV-BULL suggest the market is currently discounting Amapa and Sonora to near zero contribution to the NAV.
]===