Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Hmmm yes indeed & how times & exit strategies can change along with dwindling assets & optimism.... depending on the reasons for it keeping the bulk I might also be tempted to sell a few hundred k shares if/as/when/maybe/ever/never we get to 15p now as well I could always buy them back cheaper & keep the change if they follow the usual pattern of raising on the back of any rise
Core Lithium's (ASX: CXO) decision to close its Grants mine in the Northern Territory has stoked concerns of more mine closures amid a major downturn in battery metal prices.
An article by the AFR called out those that are most at risk of closure this year, including:
First Quantum Minerals and POSCO's Ravensthorpe nickel and cobalt mine
Arcadium Lithium's Mt Cattlin lithium mine
Consolidated Minerals' Woodie Woodie manganese mine
Mineral Resources' Bald Hill lithium mine
Andrew Forrests' Wyloo Metals
Glencore's Mt Isa zinc, lead, silver and copper project.
But the reality is that the sector has been in deep pain for quite some time, especially for small-to-mid-cap stocks. It just took Core Lithium's fall to grab everyone's attention. In this piece, we'll recap some of the major mine closures, project standstills and strategic reviews from the past 12-24 months (that have probably flown under the radar).
.... completely agree although I'd have hoped for a sale prior to the licence schedule personally..... although selling off assets for what we paid for them hasn't necessarily been a strong point of ours historically has it!! ....
.... aaaw what a load of wish wash ...
Hitting targets? I can't remember a timeline target being met .. Amapa back into production when ??? our OZ assets SP's are pretty much in the gutter.
MEZZ loan isn't being repaid in shares (so far) it's being repaid in cash by the sake of EMH (also on it's knees) primarily as our EMH holding was ringfenced specifically for it & talking about share assets being worth £4-5 million as if that was a good thing!!!
One thing is for sure though Amapa will hopefully be my ticket outta here providing that doesn't get messed up as well & sooner rather than later would be my preference.
.....if by any chance we still hold this might improve they're incredibly poor SP 🤔
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02762458-6A1189585
Morns MB ... at least this snippet's talking about reducing rather than replacing entirely as many do 😂 ... all about the Fe for now for me though.... EMH & all our other OZ holdings are in the shredder currently nothing else to Ra Ra & wave me pom poms about for ... still KM & the BoD are still getting rewarded handsomely even if we're not eh so that's good at least ... we're like the cow that just keeps getting milked without needing feeding 🤣
Hogmanay was great thanks nothing like standing on the balcony overlooking Tob bay at midnight in the rain with a nice whisky watching the fireworks explode at eye level ✴️
LoL .... gosh not even I'd thought it could be that bad 😂 ... the thought of our BoD thinking any EG1 scenario through more than as an interested shareholder sends shudders down my spine with our past history 🤔
Anyway I should add that my KDNC glass is also always half full .... Just not sure what that is floating around in it sometimes 🤣
...that was back in May ...this is today!!
Summary
• The strategic review to preserve business value in light of weak market conditions is continuing.
• Processing operations will continue from existing stockpiles and mining in the Grants open pit will be temporarily suspended.
• The BP33 mine study will continue and early works will remain paused until market conditions improve.
• Discretionary spending including studies, exploration and corporate costs will be reduced. As previously announced, Core Lithium (ASX:CXO) (Core or the Company) is completing a review of its business activities in the light of the significant decline in spodumene concentrate pricing.
The price of spodumene concentrate has declined more than 85% in the last 12 months, including by 50% since the end of October 2023.
The strategic review1 has examined how the Company is best able to reduce costs and schedule growth projects to preserve business value and optionality. The review has identified a range of actions which will commence immediately. The Company will continue to closely monitor market conditions to ensure mining can recommence should market conditions improve.
... 😂 ... so Core & specifically BP33 that was being spouted here as EG1's guiding light is now pretty much just another marker on the map of inactivity ... although the rationale might explain why EG1 have done stuff all more than spout on about reviews, pouring over historic data, mapping & simple sampling ...
@ TC interesting sum ..... Especially if we can get a buyer up front prepared to raise an LC for the full agreed 'sale' value of the stockpile with the headroom to go to a discount house to realise sufficient to pay the banks 'in one swoop' & leave sufficient for the DFS ... who needs a JV partner!!
Pure conjecture of course but an interesting sum 🤔
Ooh touchy touchy ... but then if you feel the need to be so defensive perhaps there is also something felt necessary to defend 😂
Who (apart from you) said anything about anything being intentional?
Your post simply states (without caveat) that you have some confidence etc etc without qualifying that paying the banks in one swoop wasn't yet a certainty but a wish & subject to ongoing negotiation & an agreement that is yet to be made .... you aren't misleading anyone with knowledge as to exactly where everything KDNC current sits however anyone else reading your post, perhaps with a first time interest in KDNC could easily surmise from what you've posted that the payment of the bank creditors in one swoop was just a formality in due course ..... which if the ongoing negotiations provide the outcome hoped for they might well become (let's be positive LoL) but the fact is they are not yet....
Never mentioned anything intentional about your post & it is just as easy to unintentionally mislead as it is to be unintentionally misled....
Laterz