Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
In his defence, he's been more on the money with timescales than anyone else has.
I wasn't expecting 7 years ago to have to wait this long only to find out that mining is likely still a distant possibility, not a near term reality.
Character destroying more like. For Keith.
How can he continue to get it so wrong every time. Perhaps in future think of a sensible timescale, then double it, then double again, then add a year for good measure?
To do with the environmental assessment I think:
'The public, concerned authorities and affected territorial self-governing units can send theirs
statement on the notification according to § 14 paragraph 2 of the Act to the competent authority, which is the Ministry
of the environment, Department of Environmental Impact Assessment and Integrated Prevention, Vršovická
1442/65, 100 10 Prague 10 (ISDS: 9gsaax4), no later than 30 days from the date of publication of the information
about the announcement on the official notice board of the Ústí Region (i.e. until 8 November 2023).
In the statement, it is necessary to indicate whether, in your opinion, the Czech Republic should apply for
carrying out an interstate assessment of the effects of the project in question (whether it is a project which
may have a serious effect on the environment of the Czech Republic) and also the reasons for this procedure.
In the positive case, it is necessary to indicate what information and data are required in the others
to supplement or provide stages of the environmental impact assessment process. It is also convenient
provide information about the state of the environment in the area that will be affected by the plan, and what it is like
way it should be affected by the intention.'
Doesn't explain the missing test results/offtakes/financing, etc. etc.
From 2 years ago (investor presentation):
In progress:
- Progress strategic partner discussions – in active discussions with leading global (batteries/autos).
- Progress EIAs and permitting for mining and processing.
- Complete Flowsheet optimisation testwork in FECAB and LCP
- DFS and Front-End Engineering Design (FEED)
- FEED programme to produce marketing samples.
and from 6 years ago:
DRILL HIGH GRADE ZONES
PERMITTING –
PILOT PLANT MINING & TARGET
TESTWORK CONSTRUCTION EU GRANTS
MINE PLANNING
COMMENCE ENVIRONMENTAL WORK – EIA
STRATEGIC PARTNERS DISCUSSIONS
COMPLETE
DEFINITIVE FEASIBILITY STUDY 2018!
Hilarious slippage there. At this rate the world won't need lithium anymore by the time they pull their fingers out and mine any.
He does have a point though. Most of us who were invested near the start of this will remember well that we should (on original timescales) have been producing lithium by now.
Covid/Babis/war aside, there’s taking your time, and there’s dragging your heels. This has been feeling more like the latter, but as with others, I’m very much hoping this is another case of crying wolf (or whatever the opposite is).
Even more reasons to get a shift on...
https://www.theguardian.com/business/2023/sep/04/china-europe-electric-car-market-uk-sales-mg-tesla
Given that, along with many others invested here, i've been waiting patiently for something significantly positive to happen for the last 7 or so years, I'm equally disappointed at the timescales. That said, there is so much promised for Q4 of this year, and no further delay excuses that I can see (covid has happened, the war is, whilst terrible, ongoing), so I hope that we'll start to see some actual results, and some reflection of increased ambition for the project reflected in the market cap.
I think the minimal demand is a summer thing - having witnessed plenty of cycles, it always seems slower at this time of year.
Manipulation or not, once this starts to get a bit more momentum (albeit who knows when that might be), the volume ought to win over. No idea if we'll be waiting one month or six to see real progress, but hopefully somewhere in the middle
It's these ones:
28.10.22
'In consideration for the engagement, the Company will issue Luthardt Investment a total of 2 million unlisted options to acquire fully paid ordinary shares, exercisable at AU$0.80 on or before 30 December 2023, which shall vest in two equal tranches, subject to milestones tied to achievement of downstream partnerships and policy support for the project in Germany being met. The milestones are set out in full overleaf. The options are otherwise on standard terms and conditions. The Company is not required to seek shareholder approval for the options because they will be issued out of the Company's existing placement capacity under ASX Listing Rule 7.1.'
No point exercising options at the same as market price though I guess, irrespective of whether or not the conditions have been met (which they have not):
'Milestones
The options to be issued to Luthardt Investments are unquoted and are exercisable at AU$0.80 each on or before 30 December 2023, subject to the following vesting criteria:
(a) Tranche 1: on or before 31 December 2022, the Company receiving confirmation in writing in the form of a letter or other official correspondence from the federal government of Germany (or a department acting with delegated authority) or the Saxony regional government of Germany that it will formally support the Cinovec Project and the supply of lithium products from the Cinovec Project into Germany and use its best endeavours to assist the Cinovec Project in permitting and funding, apart from other factors.
(b) Tranche 2: on or before 30 June 2023, the Company receiving confirmation in the form of a letter or other official correspondence from the federal government of Germany (or a department acting with delegated authority) or the Saxony regional government of Germany that it will formally support an increased production plan for the Cinovec Project subject to supply security considerations for European manufacturers of Electric vehicles and batteries.'