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Seems to have galvanised our friends at Portugal Resident who are referencing a long diatribe on “sacrifice zones” from a UN Human Rights and the environment reporter. I read this in part last week but couldn’t bring myself to post a link as it as it was so dull.
https://www.portugalresident.com/public-pressure-wins-10-day-extension-on-bitterly-contested-lithium-mine-consultation/
A perfect compromise I would have thought? APA show themselves to be listening to local feelings and hopefully avoid another appeal to the Aarhus convention? SAV don’t have to wait any longer for a decision.
Unless the Iberian wolf has recently set up a den on our property, what can possibly go wrong?
IB you can register yourself with FT for limited access for free. Just need email and a password and enter your professional details. Read article straightaway!
Shareitup,
Re your comment “a bit disappointing the sp isn't moving forward as I had hoped”. It made me wonder how other UK-listed junior lithium miners have performed. A bit of a mixed bag it seems with SAV in the lower half as you will see from the table in here:
https://www.sharesmagazine.co.uk/article/our-top-ways-to-invest-in-lithium-miners-and-the-outlook-for-prices
The article is dated February and spodumene prices have continued to fall off a cliff since so it’s not surprising to me that the sector is suffering. SAV has made some progress since then so should be moving up the list to a more positive outlook.
That’s true. Like everything else it’s a waiting game.
Any idea what happened on the judicial action brought against SAV in July by the common lands community of Covas do Barroso alleging the illegal seizure of land?
https://www.portugalresident.com/lithium-wars-lawsuit-filed-against-british-company-for-illegal-seizure-of-common-land/
Sounds spot on thanks!
Not sure what “under penalty of tacit acceptance of the decision” means?
If every home runs on electricity and needs a “lithium battery wall” to store excess, it will probably be supplied from recycled automotive batteries which will create a virtuous circle and support the desire for every home to generate more via solar and drive an electric car. The cost per kWhr has gone up but is more predictable than petrol/diesel at the forecourt where we are being ripped off by the supermarkets in particular who are not passing on wholesale price reductions to the motorist.
Ps Surprised that the EU caved so quickly having convinced its entire car industry to reinvest heavily in ev production? Strength of the oil lobby?
…. while it lasts. The lack of a management commentary keeps it below the radar for now. Nothing worse than the arrival of the herd pumping it to oblivion, riding the genuine upswing from imminent good news.
Local government not happy with the timescale for consultation it seems? Asking for an extension. https://www.portugalresident.com/lithium-wars-anger-over-time-given-for-public-consultation-of-new-barroso-mine-project/
More species to add to the endangered list…. the river mussel, the red-crested jay….. the approved EIA?
No reason for us to fear a fundraise if required. Zinnwald raised last week at a 26% premium to SP. Note the SAV coverage too. https://www.voxmarkets.co.uk/articles/lithium-news-zinnwald-raises-18-75m-and-savannah-reports-barroso-progress-079e1b6/
The corporate video was much improved on the last one. Impressive graphics on the land use and renewal. Will have to see what the current public consultation brings up if anything.
I wonder if we have enough cash to see us through to mine approval in 2024? From the Half-year results “cash position of £9.4m (31 December 2021: £13.0m)”. We seem to have burnt about £3.6m in the first half of 2022 so will need to slow that down. Full year results due around 6th April so will know the cash position shortly.
The 6 months delay for Article 16 wasn’t budgeted for but the DFS was costed into the last cash raise I believe? Takes 12 months work from APA approval according to Dale. Not sure if we contract it out in whole or part? Overall it’s all cost and no income until 2025 at the earliest so cash management will be key.
…. and looking at the surge in the SP, so is optimism of a positive outcome by next Friday?0
The publication of the scoping study in “early H2” should provide a bit of excitement. Investors will be able to compare the revised value of the project (NPV) with the share price valuation and no doubt see that SAV is incorrectly priced. By that time the outcome of APA’s decision will be known, as will SAVs response to any conditions imposed, and it will be a matter of waiting until 2024 for the DFS and final environmental approval.
Anyone who has experience of corporate deals knows that the time taken tends to extend to the time available to complete. If Anglo weren’t going through with this they would have been long gone by now. NvS has stated on a number of occasions that he is not going to give a running commentary so I’m expecting radio silence until Friday week. The following Monday the only question will be whether the gains are 2x or 3x.
Nik Volker is the spokesman for communities affected. Loves his freedom of information requests! Has some useful stuff on prospective mining areas on his website. Pinch of salt taken!
https://miningwatch.pt/index-en.html
H
What do you make of this comment in the article? “As far as the timetables of operators and authorities in Portugal are concerned, the ambitions of the Critical Raw Materials Act are simply unrealistic,” Nik Völker, EU policy researcher at MiningWatch Portugal, told EURACTIV.
Good find! As I was saying the other day, VW has very ambitious global plans and won’t be waiting for the EU to find it lithium.
2026 according to Dale in the interview?