Member Info for ChameleonMan

Thanks IB, it has indeed been a quiet day. I can relate to what you say. The Alara updates give an alternative perspective on Oman I.e. that PAM is not just a figment of DA’s imagination; they occasionally seem to take interest in what the mining community is up to and from time to time actually sign off MLs. We are not unlike the suspicious parents of reality TV - what goes on in Oman between RNSs, interviews and tweets seems to stay in Oman.

Regrettably confirms that I was right to get out of GDP. Down 10% as I write!

Alara has reported today on developments in Oman. PAM appear to be actively interested. “Project Finance The Company has received term sheets from financiers for project finance on the Al Hadeetha Copper Project (Project). Lenders and their specific terms remain confidential but are in line with previous management expectations. Due diligence reviews and other preliminaries have been completed. The Company is advised that final approval is now pending. Engineering, Procurement and Construction Contracts Contract terms have been finalised and agreed for all key Project engineering, procurement and construction contracts. While preliminary works are underway, management has opted not to proceed with the award of major contracts until final approval of Project finance is completed .......... ..........Other Project Developments An exploration program for Block 8 has also been submitted to the Public Authority for Mining (PAM). PAM has also requested project presentations on the Company’s other JV exploration licences. Further updates will be issued in due course. Collaboration across different projects is advancing with key potential project partners in Oman.”

Thanks for sharing Shareitup! In the early days here I was frequently climbing ladders but sliding down snakes in my attempt to build a decent average. Luckily that’s all behind us now and as IB says, the opportunities are abundant.

I note that the heir to the throne has taken delivery of his first EV. Famed petrolhead but environmentalist, Prince Charles is leasing a new Jaguar I-Pace. Note, leasing - even with his resources he’s not stumping up the purchase price. One wonders where the vehicle will end up when the leasing period ends? Second hand market or museum?

It’s difficult to get any traction from investors in lithium miners at the moment as there are condradictory views from analysts on whether we have under or oversupply. So the announcement of a greatly increased resource potential is met with some apathy. This means that valuations are all over the place. If you have confidence in the market there are bargains to be had as others sit on their hands. The EV market is an obvious trend to follow and is well reported. It’s clear governments want to flip everyone over from gas-burners but who will pay? EVs aren’t cheap and a scrappage deal may be required to move everyone across to electric. It will happen I’m sure but maybe not as fast as was hoped for by which time lithium supply may have caught up. The bit that isn’t so much in the mainstream press is grid storage but could be huge as geographically dispersed renewables fill the power generation gap requiring much greater decentralised storage capacity. Much easier to fund this as it’s a business case rather than behavioural change as in the case of EVs. Overall I am confident that the demand for lithium will exceed supply and the time to invest is now before the dust clears and it becomes a no-brainer for every man and his dog. No reference for this, just my own thoughts!

Should give potential off-takers confidence in the continuity of supply medium to long term. Important when electric vehicle production runs into decades.

Wonder how he’s getting on with that EV he promised us? I expect it will clean the highway as it goes?

Wish someone would tell Bacanora (BCN). Every day it seems to drop. Got interested in it after Iceberg’s SAV vs BCN blog. Dipped my toe in but now it has frostbite! SOLG is happily a different story as the big boys circle for its assets. Copper is still sexy it seems? Oman agnostics please note!

It’s so obvious they are suited and booted for a licence signing meeting. Could they give a bigger clue than by posting this pic?

Quite agree and let’s hope the PAM Mont Blanc is loaded with the visible variety! I for one will be opening a bottle of something special to celebrate the realisation of my unerring faith in this project! :)

Trisse, have you revisited your “nil value” estimate for Oman in light of events?

Quite a lot of jawboning has been going on in Oman behind the scenes on a number of projects. Following the Labs in April a committee was set up. https://timesofoman.com/article/141505 “The committee conducted 11 meetings, one every two weeks. During these meetings, 68 projects were discussed and 15 approved. Moreover, 44 projects are still under process and one was rejected because it did not comply with the requirements of the permits or the committee’s standards. This is in addition to 110 applications related to mining areas, two of which were approved and the others are under process.“ SAV I presume has been one of these “under process”? We sometimes think that we are the only company waiting for a decision but there are many. DA seems to think we are nearly there so if it’s true we are in for a bonus!

Maybe SAV is readying to sell Moz assets to Rio and is optimising values by applying for a licence on this additional plot beforehand? Just musing, nothing more!

As long as it’s not Dinky, Corgi or Scalextic I’m happy! Ps showing my age!

Finally sold my remaining holding in GDP just now after holding a substantial stake for many years. Lack of news, lack of shareholder engagement, lack of transparency, lack of potential all coloured my decision. I concluded that GDP just isn’t going anywhere. Much better opportunities elsewhere, in my case, adding to Savannah Resources, developing in lithium, copper and mineral sands. Wishing the best to investors that remain and would like to say I might return but I just can’t see it. GLA!

Ps and just to express my continuing confidence, had another £4K’s worth which should double by Xmas if my hunch is correct!

Oman may surprise with a mining licence sooner rather than later as the restart of drilling is a clear signal of DA’s confidence. Likewise Moz is unpredictable and could surprise with a quick decision at the due date in just a matter of days now. The application for an additional licence would not be made if DA felt that the current applications were failing? News of the success in either jurisdiction will be transformational. Together with the continuing progress in Portugal and our strong bank balance, I don’t think we have been better placed than now and the current SP just doesn’t reflect the potential.

Good article on outlook for copper market over the next few years
https://www.businessamlive.com/analysts-make-call-on-copper-as-medium-to-term-investments/

“ In a rising copper market, the upside from an explorer as it transitions into development and then production is likely to be all the greater than an existing producer with an established yield. “

A return to drilling in Oman may be well-timed given this outlook vs the rather downbeat sentiment in lithium currently?

No doubt DA will be Skyping later on to colour in the background?