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Yes, Leo's Goulamina is a large deposit. Although they need multi-stage flotation whereas Ewoyaa is DMS only (no flotation needed). And Ewoyaa is on the coast whereas Goulamina is about 500km inland and in Mali. Goulamina looks a decent project but I much prefer Ewoyaa.

Come on ALL! Time for an update.

Https://hotcopper.com.au/threads/ann-leo-lithium-secures-a-106m-strategic-placement-with-ganfeng.7403398/

Ganfeng buying a 9.9% stake of Leo Lithium for A$106m, announced overnight in Oz. Leo Lithium's project is in Mali. Interesting to see the Chinese look at West Africa after what the Chileans are planning for their lithium assets.

Also, Ganfeng and Leo Lithium plan to investigate a 'joint downstream conversion facility in Europe or region within a reasonable distance to West Africa.'

Come on ALL. Time for some news!

haggismchaggis1,
This is another valid point. Some investors don't like to invest until the results of a DFS are published. Maybe MIIF are following this approach? Maybe the sequence of events will be DFS, MIIF and mining license?

I'm not entirely convinced that BO made a large fortune. According to this article (below), they use a market neutral strategy when targeting companies. If they went short Piedmont, then perhaps they went long a basket of US (to avoid currency exposure) lithium producers? Since 3 March 2023, Piedmont is -14% roughly, but Albemarle, for example, is -21%.

https://sfl.global/en/news_post/blue-orca-raises-25-million-for-global-activism-investments/

Anyway, fingers crossed that we see MIIF investment, Mining Ministry approval for Ewoyaa and a DFS soon. It could be like a Haaland hat-trick! Swift and a wonder to watch....

Hi haggismchaggis1,

Thanks for your thoughts. You may be right on this and there does seem to be returning bullish sentiment towards lithium stocks.

I do find the Ghana / IMF Loan news interesting though. I've been wondering the reason for the slow MIIF negotiations. It seems in both parties interests to get on with things and if MIIF aren't going to strike a deal after a 40% price drop then I'm guessing there's something else holding things up. I just wonder if MIIF are holding back until the IMF loan is in hand. Geopolitics at play. If this gets resolved, as the Bloomberg article suggests, then maybe the MIIF investment follows swiftly after. Just guesswork on my part.

Thanks for posting the chart. There is a decent correlation between the stocks.

I wonder if this news (see link) had anything to do with Friday's move. I can't read the whole story as I don't have access but looks like there could be some movement towards sign-off of the IMF loan to Ghana. Maybe everyone has been waiting on this?

https://www.bloomberg.com/news/articles/2023-04-14/imf-director-says-ghana-has-taken-enough-pain-to-unlock-aid?leadSource=uverify%20wall

If this is more likely to go through, hopefully chocks away!

Hi swest42,
Friday's move was a big relief. I'm also in big on this share and the last few weeks have been testing, to say the least.
I'm not sure what triggered the move up yesterday, when it should have bounced back a lot quicker, in my opinion. Maybe it broke a resistance level? Maybe shorts covering and leaving with tyre tracks across their backs! Maybe due to news of spod prices going up again? Or maybe news coming soon? Whatever, triggered it. It's a very welcome start to its journey to achieving full value. Onwards and upwards!

New Atlantic presentation released.

Page 14 highlights next steps. Point 4 "New acquisitions". Groan!.....I'm starting to wonder if this stock is for me anymore...

https://finance.yahoo.com/news/rio-battles-high-bidding-carmakers-111028314.html

After Rio cut their dividend y'day, maybe that gives them more M&A firepower...

Things just got even more interesting:

https://www.reuters.com/world/americas/mexicos-lopez-obrador-orders-ministry-step-up-lithium-nationalization-2023-02-19/

I'm looking forward to Monday morning.

If Tesla are in fact looking at buying a lithium miner, that'll change things significantly. GM's deal with Lithium Americas might have forced the issue.

Also, I'm looking forward to seeing if Pilbara put out an announcement pre-market.

Thanks for pointing this out GK. This is what I found when I googled the story:

https://tinyurl.com/4puz83bu

This is interesting news:

https://tinyurl.com/ta9fyae6

Exactly! What about the rest? Looks like this is what SOME of the cash was spent on:

https://tinyurl.com/3txm5ar3

bankrupty,
I share your disappointment. News announcement 2 November 2021 said Ricca "will have a closing cash balance of A$14.2m before costs" after the demerger and the Cannacord offer. The latest presentation says Ricca have A$2.9m left at 31 Dec 2022. Anyone else wondering what it's been spent on?....

https://www.afr.com/markets/equity-markets/is-chris-ellison-s-minres-buying-patriot-battery-metals-20230205-p5chyi

Some possible M&A activity in the sector. It'll be interesting to see if this materialises. Things seem to be heating up with the recent GM deal.

PLL are earning into 50% of the Ewoyaa Project at the ASSET level in exchange for helping to build the plant. Separately, PLL have agreed to take 50% of the production from Ewoyaa at MARKET prices.

The production costs per tonne of spod. con. as per the PFS are US$278/t cash costs and US$460/T All in Sustaining Costs.

PLL and ALL will probably form what's known as a joint venture, since both parties will likely own 50% each of the project at the ASSET level.

What KP is talking about is the low cost of production at Ewoyaa, which he will be happy with since PLL will own 50% of the Asset through the JV. PLL have then agreed to buy 50% of the product at market prices (currently over US$8,000 in the spot market). PLL will then probably stick this through their Lithium Hydroxide plant planned for Tennessee to eventually sell this Spodumene Concentrate as Lithium Hydroxide which is currently selling at about US$75k/tonne.

This is different to the deal with Sayona. Who for some reason decided to sell their Spod Con. at US$900/T rather than MARKET prices.

Vincent (RIP) wisely decided NOT to do this.

A disappointing reaction to the resource increase, so far. As the RNS says, the resource increase "will provide the opportunity to evaluate extended mine life and increased throughput to enhance project economics." If throughput is increased to 3 million tonnes of ore (up from 2 million tonnes of ore). This is what happens to ANNUAL revenue forecasts at spot prices:
https://tinyurl.com/2p87zcyn

Sprott have launched a Lithium Miners ETF this week.
Atlantic are included:
https://tinyurl.com/36d2vjyy

Goolang,
Interesting comment by KP. Thanks for highlighting it.
Hypothetically, if I owned 10% of a company and wanted to own the other 90% I would probably avoid doing interviews highlighting the company was undervalued.
Conversely, if I owned 10% of a company and did NOT plan to buy any more but was doing an interview. I might talk up my 10% holding.
I'd have been worried if KP said Atlantic was undervalued! LOL!