Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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This website shows ELEP listed on Feb 17th (Friday)
See https://www.webull.com/quote/nasdaq-elep
https://twitter.com/TereaAfrica007/status/1625812698880479232?t=_ejAJ8BwwMTNfNNENCIcWQ&s=19
RRR very recently won the appeal over the $2m fine that VUP filed
VUP now have nowhere else to go
Helpful what I meant is if some newbie comes on here and sees those large amounts just quoted it might encourage him to invest here. Anyway 50.1% in our pocket. Do you really think AB will get that? I just hope you are right.
Robins, I don't know what it is but you seem able to get the wrong end of the stick on absolutely everything.
I didn't say we would get $420mil, anywhere. $420mil is the figure in the public domain as the amount paid by Glencore to Gecamines for Musonoi and the two other licences.
We have proved in law in DRC at multiple stages that the JV was owner of those licences not VUP. VUP's case was that they sold the licences back to Gecamines in exchange for $20mil; that $5mil had been paid by Gecamines to VUP and $15mil was still to be paid; VUP sued Glencore and Gecamines jointly in the DRC court system for the $15mil; we intervened in the case and proved that the JV owned the licences and that 50.1% of the $20mil was due to RRR. That is what all this palaver has been about.
After we have the 50.1% in our back pocket we need to decide what to do about Glencore. If Glencore tortiously interfered in our contracts with VUP and Gecamines (ie., the basis of the VUP case in the DRC courts against Gecamines and Glencore) then if we can prove that, our minimum position should be $420mil-$20mil)x50.1%. Our maximum position is 50.1% of all future cashflows plus costs and other losses. Most likely the claim will be split into two parts; the 50.1% of the $400mil and then the consequential losses.
A bit to be done yet. It could either go all the way to a hearing or Glencore could look to settle fairly quickly.
DYOR
Well Helpful I get a bit skeptical when people quote $420m because its like WE might get something near to that. Lets see what we get from DRC and I hope they are not laughing at a posh talking English man trying to get money from them.
Yep Tragic was one of those that said DRC was worth nothing and it was just a scam. Well that scam turned out to be worth $420mil to Glencore.
We are where we are because someone tried to rob us in Kenya and someone did rob us in DRC.
DYOR
TBH I cannot remember but not worried about a Mr.Magic.
I like the price range here and the assets are very good for the size of the company.
Think we are hopefully at a turning point with sizable funds incoming and production of Lithium together with a JORC gold asset in Kenya that has value to someone to develop and an IPO in the US whether last week, today, tomorrow etc will be listed and will be 1/3rd of the current market cap of the company. In my mind that is crazy. GL
Liquid I am glad that you have faith in AB. I hope you are right as I might get some of my previous losses back. Do you remember a character called Mr. Magic who frequently posted here and had his doubts regarding AB?
Interesting comment:
Sometimes things don't happen on time and it turns out that it is a good thing and not a bad thing.
1. It was him
2. He doesn't need to be there in person for it to be signed.
*but NOT several thousand dollars a tonne more...
Everything comes to he who waits. We are doing very well even though it might seem otherwise. Sometimes things don't happen on time and it turns out that it is a good thing and not a bad thing.
I didn't put any numbers in the public domain, I commented on numbers that AB put in the public domain.
He said that the local price for 2% lithium ore was $300/$350 a tonne and in the export market in South Africa that the price for 4.5% ore was $7k a tonne. I don't know what the current prices are.
We have two licences; Tin Hill and Beatrice with a number of licence applications in process. ALR was modelling 5k tonnes per month at 2% lithium. The cost per tonne won't be much; $30/$50 region.
To beneficiate to 4.5% grade we need to put in floatation tanks. So the costs will be a bit more but several dollars per tonne more. So we need to get to producing 4.5% grade asap. Then we need a drill programme on each asset.
My preference is to just dig it out and sell it. Any price we would get offered to sell ALR would be at a massive discount to DCF.
Beatrice is likely to be similar to Tin Hill.
We are very likely to have tantalum at both in addition to lithium but I don't know that we do.
Fingers crossed.
DYOR
AB looking at an old document and saying later (if it was him) that if the boat slowed he would be back over there. Makes me think it is all out of his control or he has little say in whether we get any DRC money. Does he ever achieve?
https://twitter.com/TereaAfrica007/status/1625484320994480129?s=20&t=l6fmxSseQMClJEU5ht35jQ
We do need a Lithium update as this should be going into production this month and that will generate revenues and cashflow. Think Helpful put some numbers around this sometime ago - maybe needs looking at again if you can remind us Helpful.
This update will really excite the market along with the DRC money which Andrew stated publicly to a photo he shared ' That is me in the DRC lawyers office. Looking at old doc, not signing new one. Nobody is talking compromise. That is not required'.
'I have spent over 3 of the last 9 months in Kinshasa for this purpose alone. And Kin is not one of Africa;s top 10 tourist destinations'.
Elephant Oil will list when it lists.
It is obviously in the final throws of listing and isn't dependant on anything Andrew Bell does or doesn't do. What we know is the approx. value it will be to RRR (£2m approx.) and will grow as time goes along.
Any delay in listing isn't negative in the jurisdiction they are and the neighbours they have regardless on what people write here.
Think the webull date of Friday is more likely to be correct..https://www.webull.com/quote/nasdaq-elep
Still says IPO is tomorrow
IMO any delays are the result of clearing the offering with the regulatory bodies (NASDAQ), who the new share holders are and where their investment money came from. The US has strict anti money laundering laws., to such a degree in some cases they ask for foreign tax returns to ensure that the source of funds has been declared and the appropriate income taxes have been paid.
I am not saying that it is what happening here just that smaller offerings such as ELEP which has business outside the USA will be reviewed
hope it happens. the IPO has had many dates which have changed. Some how I don't think they are doing them selves any good by further delays.
good luck
ELEP
Exchange NASDAQ
Shares (millions): 1.8
Price range $4.15 - $5.15
Est. $ Volume $8.5 mil
Manager / Joint Managers Spartan Capital Securities
CO-Managers
Expected To Trade: 2/15/2023
Day: Week of
see https://www.iposcoop.com/ipo/elephant-oil-corp/
Lets hope so. If the man called Andrew Bell on the other channel actually is AB, why would he say things like " if the boat slows" . Could be construed as negative.
Looks more like a bed and isa to me...positive if so.
2 Large sells unfortunately.