Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
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They have the support from most of the local community
Agreed. Any negativity here will be from people who missed their entry!
Https://www.telegraph.co.uk/business/2024/04/30/lithium-miner-submits-plans-to-drill-in-durham/
Incredible value for those who readied the link, get in before the confirmation RNS from MAC
Think they will
The aim seems to be clean mining can't think of any reason they'll say no to that
It would be just common sense
Bwtfdik
Will they get permission? Personally I think no. We buy a lot of lithium from Australia so why build a new industry in the UK? The woke brigade will be out in force.....
You missed this bit:
The Worlds miners will be desperate to bid for this huge development with opening bids of 10 billion dollars likely
Ok I made that bit up. But if planning is granted and work starts how much is the 10 per cent stake worth?
A mining company has announced plans to extract 10,000 tonnes of lithium a year from rocks beneath a County Durham beauty spot after drilling found vast volumes of hot brines laden with the precious mineral.
Lithium is an essential component of the rechargeable batteries that power everything from mobile phones to electric vehicles – but the UK is currently entirely dependent on imports.
Weardale Lithium’s planned processing plant in the Co Durham valley would strip the lithium from water pumped from deep underground reservoirs, creating the UK’s first domestic supply of the mineral.
If the deposits prove commercially viable then the UK could reduce its current complete reliance on imports which mainly come from Australia and South America.
The area is the second part of the UK to yield commercially viable lithium deposits. Cornish Lithium is already seeking to exploit similar deposits in Cornwall. It too expects to produce about 10,000 tonnes a year.
Stewart Dickson, the chief executive of Weardale Lithium, said the company wanted to establish “a facility for domestic lithium production from naturally occurring geothermal groundwaters that would become a focal point for the UK lithium industry.”
Weardale Valley is a renowned beauty spot on the east side of the Pennines, about 19 miles long but with a long history of mining, mainly for lead, silver and fluorspar.
The hot lithium-rich brines were discovered after boreholes were drilled more than 3,500 feet into the rocks underlying Weardale.
Under the scheme, the heat from the water could be used to warm local homes and businesses with the water also processed to remove lithium, before being pumped back underground.
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By 2030, the UK is expected to require 80,000 tonnes of lithium carbonate a year for electric car batteries and renewable energy storage. It can be produced from mining and processing the lithium-rich rocks found in Australia, Brazil and Zimbabwe but this is energy-intensive and expensive.
Lithium often appears in brines and brine deposits – with vast deposits extracted this way in Chile, Argentina and Bolivia.
The mineral has long been used for making heat-resistant glass, lubricants and industrial steel production but demand now is driven by its use in rechargeable batteries for anything from mobile phones to electric cars.
Weardale Lithium said that, if approved by Durham County Council’s planning committee, its processing plant would be “one of the most advanced lithium extraction plants in Europe.”
Can you copy and paste article? It is subscription only
I still need 100% to breakeven from here but looking good!
And up we go?
MAC own 10% of Weardale 👌🏽
Whats the connection here
Https://www.telegraph.co.uk/business/2024/04/30/lithium-miner-submits-plans-to-drill-in-durham/
Hope long termers bought these at about a penny. I did...I wont sell any below 2p-.
Where is the RNS?
RNS out re DLE permission at Weardale. Nice rise in sp. Seriously undervalued.
Plans to build a giant lithium battery plant have collapsed after more than three years of uncertainty.
https://www.bbc.com/news/articles/cw4rx2zxy7wo
No posts this year. An 11 grand buy today.....not seen much buying for a while
Burgh Island and hotel featured on "Whitehouse and Mortimer gone fishing".
Looked very pleasant indeed.
Having risen by almost 20% this afternoon, hopefully proper recognition will now be given to the value of MAC’s holding. A bit of weekend press would help !
That means that MAC's 8.5% interest in Weardale is worth well in excess of MAC's current MCAP.
MAC is significantly undervalued.
Looks like funding for the DLE pilot plant is secured with no dilution, adding value to the 8.5% MAC holding.
Last funding round valued Weardale Lithium at 36m
The project is specifically concerned with novel methods for the production and refinement of lithium extracted from geothermal brine resources in the context of developing an integrated and robust route from 'borehole to battery', all within the North-East region. The funding will advance feasibility studies and scale-up activities to further a battery-supply chain industrial hub and include the evaluation of the potential for WL to supply lithium to TVL for refining.
https://www.lse.co.uk/rns/ALK/tvl-grant-funding-secured-o3ju5b1s67yrjp0.html
Yes. Low mkt cap and lots of interesting stakes too. You cannot go wrong buying these at a cheap price around 1.1 to 1.5p. Always a spike but the spread is too high in these thin August mkts.
This is a tiny company. Let’s hope Burgh Island hotel sells soon.
New battery factory to be built in the UK.... hopefully Weardale comes through.... this would be massive for MAC...