Member Info for ChameleonMan

If the deal had fallen through and we were going it alone, I hardly think we would be buying new assets in Botswana? This feels to me that the deal is done and we are looking at the next project.

Me too- another chunk at 6.35p- bargain!

An over-reaction in price drop and an over-reaction in negative opinion. Remember the SP has risen from 6.05 to 8.15 this month alone. A glance at the 3-month chart shows that 6.5p is just the bottom of the upward trading range with the next top forecast around 10p. This an opportunity, not a cause for complaint. Folks shouldn’t react like the hot-headed groom who stormed out of the honeymoon suite because he felt his young bride had spent too much money on lingerie! :)

If only the SP of lithium junior miners followed the rise- lithium up 2%, all miners down c. 3% today and have been weak of late.

Fair enough!

“ Proposed Acquisition

The Company has signed a binding term sheet for the acquisition of 75% of Alvis Crest (Proprietary) Limited ("Alvis") which holds two prospecting licenses in the Botswana Kalahari Copperbelt, adjacent to the world-class high grade copper-silver project Zone 5, owned by Khoemacau Copper Mining ("Licenses").



Alvis is a wholly-owned subsidiary of Kopore Metals Ltd ("Kopore"). Pursuant to the term sheet, and conditional on matters including due diligence, regulatory approvals and documentation, Arc will acquire 75% of the issued ordinary shares of Alvis, a company incorporated in Botswana for a consideration of £1.2m to be satisfied by the issuance of new ordinary shares of Arc, based on the 10-day VWAP prior to completion of a binding Sales and Purchase Agreement ("SPA"). Arc will have an option to acquire the remaining 25% of Alvis for US$5m (exercisable until Arc makes a final investment decision, which would be upon the completion of a bankable feasibility study in respect of the Licences). The acquisition of Alvis is conditional on the satisfactory completion of due diligence and the transaction completing, Arc is committed to spending US$200,000 per annum on the prospects and would be required to procure that Alvis pays a 1% net smelter royalty, capped at US$30m to Kopore. The royalty can be bought out at a cost of US$5m until Arc makes a final investment decision. Further updates will be provided in due course and the Directors believe that the conditions could be satisfied within the next few weeks.

Maybe I read further beyond the drilling? “

I thought £1.2m was used to acquire 75% of Alvis Crest from Kapore?

No contradiction in my mind and no dilution. We have not raised cash to keep the ship afloat which would be dilution. Rather we have raised finance to buy new assets which expands both sides of the balance sheet. Next step is the sale of assets beginning with a Z balanced by a shed load of cash!

... to load up at the placing price. Just had a 250,000 top up. Nothing in the RNS to worry about - quite the opposite as APR has posted.

So possibly two local outlets for SAV spodumene? Half to GALP and half to Lusorecursos?

And once those terms are agreed and in the public domain and once all dots are joined then we’ve got something that more risk-averse investors can pour money into!

Noticed that Mining Journal has picked up on the lack of detail provided by VW as to how they will be sourcing their lithium. Clarity on this will significantly improve the prospects of European lithium suppliers, particularly for the chosen ones. The continuing uncertainty provides a value-adding opportunity for those who are suitably positioned!

https://www.mining-journal.com/energy-minerals-news/news/1406664/vw-misses-trick-with-lack-of-lithium-detail

Very bullish article by Mining.com on the lithium market for seniors and juniors alike. Worth a look!
https://www.mining.com/investors-flock-back-to-lithium-as-battery-bust-turns-to-boom/

Question posed by Pro Active
https://www.google.co.uk/amp/s/www.proactiveinvestors.co.uk/companies/amp/news/944270

https://www.google.co.uk/amp/s/www.proactiveinvestors.co.uk/companies/amp/news/944270

This pertinent question is asked today by Pro Active.
“ Still, when all’s said and done, Volkswagen remains beholden to commodity markets and suppliers to deliver the relevant materials to get all these new cars built. How that will get done remains a key question. There’s one source of lithium at Cinovec in the Czech Republic, right on the company’s doorstep. Another lies not too far away, in Portugal, under the ownership of Savannah Resources (LON:SAV). It’s possible to that a new lithium district is being opened up in West of England by the likes of Cornish Lithium and British Lithium, both of which remain private for now.”
https://www.google.co.uk/amp/s/www.proactiveinvestors.co.uk/companies/amp/news/944270
Will VW make this clearer in coming months?

You can always rely on Portugal Resident to reflect “the word on the street” often with a touch of cynicism? Here they are commenting on the recent open letter appealing to Portugal’s PM to get things moving faster.
https://www.portugalresident.com/associations-desperate-for-green-light-to-mine-lithium-appeal-to-portuguese-government-for-quick-decisions/

I’m calling Oprah!

Neither, maybe it’s just my smutty mind? Shouldn’t post after the second G&T!