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Maybe those who promised “transformational news” holding up the results could apologise first? Also those who promised that Oman would be sensational? Oh and those who said that revenues from Moz would fund the MdB development?
We are all guilty of wishful thinking as well as impatience and despair so let’s just call it quits shall we and move on from here?

Matthew King must surely be running out of different ways of admitting that we do not yet have an offtake agreement?

Sept 2018:

“We believe that the MdB Project's spodumene lithium concentrate will be highly sought after by end-users and look forward to progressing discussions currently being undertaken with potential offtake partners as part of our commercialisation process.”

April 2019:

“Discussions initiated with potential offtake and strategic partners and providers of project finance”

Sept 2019:
“Commercial interest in the Project growing with discussions advanced with diverse groups of finance providers and potential strategic / offtake partners “

March 2020:
“Advanced negotiations around the project's future commercialisation and financing including engagement with several of the European Commission's lithium battery-related initiatives”

Sep 2020:
“Offtake and Strategic Partnerships: Negotiations continued around a life-of mine-lithium offtake and strategic project investment with a number of industrial counterparties”

The next RNS will be the delayed half year financials due by Friday. I’m not expecting anything other than statements of the usual nature “we are making progress” so unlikely to be disappointed.

..in a feature on S.American miners..
“ SolGold (LSE: SOLG) is the only UK-listed Ecuadorian pure play. The firm’s main target is 85%-owned Alpala, which will become the country’s largest mine when it begins production in 2025. Despite its name, SolGold is more of a play on copper than gold. Not possessing an operating mine makes SolGold riskier than Lundin, but it also has more upside. It is the largest exploration concession-holder in Ecuador. The share price has increased by 60% since the end of September on the back of recent discoveries at other targets. The big risk is getting the financing together to build its multi-billion dollar mine. But given the shortage of quality gold and copper projects it seems likely that majors or the market will support it. Indeed, Australian majors BHP and Newcrest have already bought big stakes in the firm. Even though it has doubled since I tipped it in October 2019, at the current price of 42p you will still be getting a discount on the 45p per share that BHP paid in 2018.”
May have helped the rise on Friday?

I think it’s probably a hard copy of this https://www.google.co.uk/amp/s/eco.sapo.pt/2020/10/05/green-e-smart-mining-pode-uma-mina-de-litio-ser-verde/amp/
posted by Osaka earlier in the month.

Thanks IB, a very timely publication given the discussion. Let’s hope it addresses the issues.

Good point but it overlooks a significant difference between established diesel/petrol engines vehicle production and future EV supply chains. There is a requirement in Europe to ensure that investment in EV production achieves the lowest possible carbon impact. Critics say the lithium battery, while producing no emissions in use, is energy-intensive in production. They point to energy-intensive hard-rock spodumene mining as a case in point. Likewise transportation of ores, refining, production of battery-quality lithium hydroxide, cathode production etc etc is all under scrutiny like never before.
The EU Battery Group recognise this challenge and have claimed that European-made LI batteries will be reassuringly green. The idea of the EU investing in unsustainable Li supply chains along the conventional strategy of “ buy it cheap from China and don’t ask any questions” is unthinkable.

I thought we were talking about Tesla as per the subject header “”Tesla Q3 report: Seeking local lithium supply chain”?
“Europe” rarely speaks with one voice anyway. I’m sure MdB is no doubt catnip to the Portuguese government but Merkl & co are probably quite happy for the whole battery supply chain to be built in Germany supporting Tesla, VW/Audi/Porsche, BMW etc. Supporting the German car industry means jobs for voters and votes for politicians. In Portugal it’s all about tourism and agriculture hence mining and refining is not an obvious vote winner. Let’s see how they get on passing SAV’s EIA - still no sign of any “transformational” news and only 5 working days left until our delayed financials are due. I am not holding my breath!

Of course, but the talk from Tesla is all about kW produced per km of supply chain. Shipping tons of concentrate from Porto to Berlin by dirty oil burning cargo ship is not a good look for the sustainability audit! It doesn’t rule us out but presents an advantage to those mining near the battery factories in Northern Europe.

It’s becoming clear to me that the EV battery industry is aggregating around the Northern European region, particularly near Berlin with its base of engineering expertise. There are new or expanded battery plants from Audi, BASF, Tesla, Microvast, and Volvo; LG Chem’s Poland-based subsidiary in Wroclaw. Audi - battery packs, Ingolstadt. (Audi uses cells from both LG Chem and Samsung SDI).
Volvo- EV battery assembly line at its Belgian manufacturing plant in Ghent for the XC40 Recharge.
China’s CATL is investing in a battery factory in Germany to supply EVs from BMW and Volkswagen.
Svolt Energy Technology, another Chinese firm, is planning a European base by 2025.
Inzi Controls -lithium-ion battery manufacturing facility in Hungary.
Northvolt - Battery Giga factory in Sweden. (BMW is an investor and VW is involved.)
I would rather we were planning to mine in the Northern European region rather than Portugal as lithium producers based in the region e.g. Cinovec, will have a considerable logistical and sustainability advantage.

Encouraging read: “ For example, we have quite solid reserves of lithium in Europe. There are four mining projects now in the pipeline, and if they gain the trust and support of the local population, as well as proper financing and support of the member states, ”
https://www.euractiv.com/section/energy-environment/interview/eus-sefcovic-europe-must-be-much-more-strategic-on-raw-materials/

Still in auction? Can’t get a quote!

Lots of action at Erris Resources since BCN decided to offload their 50% share In the Zinnwald project to them. Well situated for the German auto industry so may be another strong player.

....to get a live quote to buy now!

I did indeed say that and it still applies. I find it’s difficult to gauge the strength of economic necessity vs people power. Depends on how secure the politicians feel in their constituencies and what side they decide to support I guess. Time will tell but I can’t see that anything significant has been reportedin the last 6 months to decide things either way?

Actually I was in a more positive mood until I read this FT article! It highlights again the other perspective on the development i.e. local opposition. The question is, will this put a stop to or seriously delay mining in MdB? Until the EIA has addressed the authority’s questions and clears public consultation will we know for sure. I’ve been invested in other companies battling local resistance and it’s dragged things out for sometimes years. I’m hoping there is enough political will In Portugal to push this through.

The following Portuguese article from last year is an encouraging read and suggests that a refinery will go to public tender when SAV’s EIA is approved so for me, the news I want is the EIA approval. Then we can engage confidently with off-takers, EV partners and refinery builders.

Translated reads: “
The Portuguese Government wants to install in Portugal the first lithium hydroxide plant in Europe. According to the newspaper Público, the Minister of Economy, Pedro Siza Vieira, and the Secretary of State for Energy, João Galamba, are making efforts to have the refinery installed in the port of Leixões.
If it is already known that who is going to keep the battery factories for electric cars is the center of Europe, that does not worry me much. We just have to ensure that in the lithium chain we have the element with the greatest added value and that is the production of lithium hydroxide ”, Galamba explained to the same newspaper.
The Secretary of State added that he is now waiting for the environmental impact study - carried out by the company Savannah - to be approved before “seeing where there are impacts” and “there may be a serious discussion on the matter”. Galamba said that the Government wants to launch the public tender for the installation of this industrial unit “as soon as possible”, but guarantees that it will not be launched before the regulation of the law is concluded, which still has to go to public discussion.”

https://www.google.co.uk/amp/s/observador.pt/2019/11/17/governo-quer-abrir-a-primeira-refinaria-de-litio-da-europa/amp/

Although not definitive, the choice of location - the port of Leixões - is due to the proximity to the places where extraction can be done, but also because it is a point through which you can receive lithium concentrates from other countries. Galamba believes that the local population will be surprised by the proposals, because, he exemplifies, "there will be no sulfuric acid or other chemicals, but only the use of organic and biodegradable material".

Cheer me up then, if you’ve got anything confirmed, post it, otherwise I’m afraid it’s just hearsay?

I wouldn’t get too worked up about the delay in reporting. I’ve noticed a lot of companies are late due to finance teams home working and not collaborating so easily.
The plans for a refinery are key as per the article I posted a few days ago. An announcement on that would be great news but I haven’t seen anything to substantiate Its planning other than “this is what is needed”. I would be wary of getting caught up in a wave of optimism based on hope rather than facts.

I don’t recall anything being published about a Chinese deal or offer? Where did you find out about this?