Member Info for AIMtodeath

Cancel all mining in Portugal, 4785 people are against it.

Too right their lovely view is not going to look as good anymore, but anyone buying in last 5 years should have been notified by their lawyer of an impending mining operation....... but the government have allowed people to prospect, they have already given a licence for 7mt on an EIA, the country needs assets, it needs jobs, it needs income.

I was in the military, the airfield I flew from, some idiot bought a house at the end of the runway and when they moved in complained about the flying!

Well Portuguese mining minister wasting his time with those tenders then.

EVERY mine is disliked by some people. More importantly the local Mayor does support it.

Or UNcorking maybe.... I don't glitter that much ;)

It was in a Portuguese news article. Think it was posted here. It also talked about SAV upping the project in another stage to include a possible chemical conversion factory.

Given a lot of people a buy in price they otherwise would not have seen. Gift horse and mouth come to mind. Just as a great 4months if news coming to support any position taken now.

and another just down the road from us

https://www.marketwatch.com/press-release/medgold-options-boticas-project-to-koza-ltd-and-koza-to-invest-15m-in-medgold-2015-03-16

And another miner...

https://www.compelo.com/energy/projects/neves-corvo-mine-castro-verde/

That sounds more like a project of national brown envelopes..... I should imagine however it invested more than $100m and will provide jobs and economic financials to the area too.

Oh and Rio Tinto can no longer pull out and just pay costs etc, at 35% they'd have to buy out the 35% stake at market price..... It's a milestone in that alone.

Moz PFS is for just 452mt of a 4.4bill resource (target 7-8) because it's high grade and a nuts 2:451 strip ratio, ie it's like going to the beach and just scooping it up. Scoping study took us to 20% of the resource with Rio Tinto, PFS takes us to 35%, DFS will be 51%. So our stake increases 75% on PFS is a good way to look at it. This PFS was put on slow burner because it's such a long life project that is the grey man, it's boring, stable and turns a profit for 30years(resource total 100yrs+ easy). Dependable. People will always need white paint! It's entering an industry that is declining in terms of tier 1 producers as emerging markets continue to expand, so it can only get better, however Portugal is in the now and well you back the race horse not the shire horse in a race, so Portugal has been taking the lime light and will be more profitable short term, but Moz 30yr will underwrite the company's long term future with a big asset and cash flow to build from, if other shorter projects come and go. However it is not staggering the return but PFS should improve on scoping due to price improvements since scoping that were expected but I'd still expect mid to upper 20s IRR for worst case long term low pricing and $250-300m NPV, $4BILL+ LOM revenue. Rio Tinto is 100% offtaker already.

They did take a 3 week break at Xmas for drilling and 2 weeks as a company. Much was hoped that a new JORC would follow the last drilling update pre xmas. Not been one since start of Sept and that last RNS was pretty much the end of the main drilling campaign needed for DFS. It depends if they want to try and squeeze more Pinnheiro drills into the JORC for DFS purposes or even the new drilling on Aldeia (they hope will look like Grandao!). Regardless they need a new JORC for inclusion in DFS, the main reason for all the infill drilling on the 3 main targets of late. But DFS needs to plan for areas to mine and waiting for those drill results I think will be too late for the planned pits in DFS. Back to previous JORCs they did follow 10-14 days (without holidays) behind the last drill RNS that dropped before them. So hence are they going to do one now and another just before DFS?? Can't see anything bad to come from a JORC other than tonnage will not go up much as most of the drilling was infill and for test/metalurgical purposes, but that means there will be movement to Measured that the drilling was actually intended for. Drill results were generally on power with intital drilling on the targets so should maintain decent conversion to measured, no dead spots appeared. Been good to see deeper targets on Grandao increase in Li% offsetting extra cost to go deeper and raise the overall % of mine.
Monday is the Project of National Interest meeting....if its good, I am sure we will hear quickly. New mining Minister raring to get Portugal on the mining map in Europe and keen to kick start the Lithium boom there with the tenders ready, what better than to champion the first project to be ready in Europe if they can get some rocket boosters behind it and beat the rest of Europe to the white stuff. SAV has been employing Portuguese companies and partnering with others on development of Li etc so showing good integration, elevating the project elevates all those involved status. SAV can be a good front man for them.
Oman drill results from drills that finished end of Q4 and possible JORC for one site if they prove successful. With Xmas those tests of the drills will have been put on hold.
Moz PFS will probably be end of Q1 but Moz gov might just surprise us with a licence, anytime....

The seller will run out soon and then there is no overhang to inhibit the rises and then they will hold for once!

Don't you have to be good at something to be called a pro?

Nah he can't bring value to a company...

"Archer’s track record is an impressive one. During the 1980s and 90s he built Savage Resources from an initial US$1mln of investment into a US$500mln business, and he repeated the trick again with Hillgrove Resources, which he took from a shell company to one with a US$200mln market capitalisation. "

https://techcrunch.com/2019/01/15/gbatteries-let-you-charge-your-car-as-quickly-as-visiting-the-pump/

Now don't be greedy IB... ;)

....really must be something in the water or there is an echo in here...

Keep drinking that water then....

Everyone one here would take a 30p offer to sell, 7p not so much.

This is a huge step forward in the project development, just not a giant leap. A few more steps still to be made and not as easy as it was hoped.

RNS could be written such that Power China is seen to have a fairly less responsible role, but like a duck on water the legs could be going great guns under the water making this deal happen but GCM have to remain to be seen as the leaders of the project...... A front man of sorts, but not the string puller anymore.

deal is someone to pay for the feasibility study.....end of. As a result of having a company of this stature in a JV 'may' help to grease the wheels of licence approval and getting support for financing..... not guaranteed but more likely than yesterday.
It fair to say most thought Power China was actually going to finance the whole thing and GCM would just join the ride.