Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
yes, i think we all know the next big hurdle is funding. i also remember when the next big hurdle was obtaining mining approval. that hurdle seems to have gotten a little smaller over the last few months. hurdles are there to be jumped and so far ufo have jumped each one. if i was one of the big players in the mining sector and had a spare few million, would i invest it in han**** which is only a few months away from potentially being worth tenfold what it is today. i would say yes. it's not so much a question of whether the funding is there, this feels more about what the funding package looks like. hopefully, alien have enough brass and leverage to get us a really good deal.
after mining license and funding, what's the next big hurdle?
Chris, 95% of the share market will be doing the same. The sp reflects that it's probably taken UFO 4 years to do 2 years worth of work and therefore been twice as expensive as it should have been. If the sp didn't think this could turnaround then it would already be worthless.
Its hard to believe anything you say as you are ultra one sided on this share. Even the good news you will smother in excrement because you can't bare any positivity on here. Why should or would I or anyone on here believe anything you have to say about UFO.
Flatliners, I'll help clear it up for yayay as in contrast you are just fuelling the misinformation, for obvious reasons but very poor form.
At the worse case there may be one more placing, but there is an equal chance that the funds we have get us to the mining lease approval when funding will be finalised shortly after. Time will tell.
There is no guarantee that the next placing will be lower than the last btw. We are now closer to mining than before.
Yayay, no. The expectation by IOCA is Q1 2025.
Mining lease approved in next few months
Funding/takeoffs will then be confirmed
Mine construction commence Aug24
Mine construction completion Dec24
First ore to port Q1 25
Exploration will be ongoing during this time to firm up and most likely expand the current jorc. Apparently 8.4mt is a minute part of what we have underground
Chris, agree with CJ. Interviews very rarely uncover anything new as the news would most likely be in the rns that preceded the interview. That being said, it's always good to hear the tone and see the body language of the captain.
The fact that you elude to nothing new coming from the interview is predictable and I predict your next comment will also be negative towards posters on here or/and UFO as a going concern.
Peanutty, you say 1.5p is ridiculous but in reality this is a make or break share. It will either go to the moon or fold. There is no middle ground here. We'll find out within 12 months which way it goes from here imo.
The naysayers who think they are enlightening us that this is a risk are just fooling themselves. We already know.
Naysayers are here for their own gratification because whatever their personal situation is, they need the constant reassurance that they are right about something. What better way to get that reassurance than an AIM share chat. Sad but true
Wolfy, by the same token, you can't just assume that trends will continue perpetually. A hell of a lot has happened in those 4 years and one thing for sure is we are a lot closer to revenue now than we were back then.
The naysayers have also for 4 years been saying this will fail yet here we still are.
Annoying, I understood that to mean that the neighbours agreements were just to allow us to mine on the boundary and a bit passed it. Sirius has got plenty of ore in the ground not affected by these agreements. Therefore your comment regarding Q1 2025 not being achievable is misleading. There is probably at least 6mt that doesn't need any neighbour agreements and so can be mined in 2025 Q1 as per the RNS.
What's the point in waiting for an RNS if you simply just dismiss what it says and then fall back to the same conclusion you had before the rns was released. Happens all the time with the derampers. If you don't like what you see, do one. We have enough people here who can evaluate the risk and reward just fine without the needs of you and C2 constantly throwing up in our faces. Apologies everyone else, rant over.
chris, every hurdle that ioca clear it's the same rhetoric from yourself. nothing ever constructive, just destructive attempts. we don't have long to wait i guess to see if han**** and ioca will in fact be a ore producing company or as you say, go bust.
With regards to noise restrictions I would say no. IOCA have mentioned going to double shifts is possible so assuming no such restrictions are in place. Secondly, I would imagine the nearest village is many miles away so would noise really travel that far. I don't know.
simter, the luxury of the flexibility of being able to turn up the volume is that during high ore prices we can maximise production and during weak prices we can reduce output or stockpile. if in mid 2025, ore price goes to $250 then i'd fully want and expect ioca to be producing round the clock. lom is 8 years single shift today but i fully expect han**** to be in production 15 years from now. lots of iron in them hills.
HH, agreed but if I recall it was you who initiated the conversation by mentioning the very worse case and valuing it in the tens of millions. That was always going to ignite a debate and after 24 hours or so we arrive right back where we started. No one knowing anything about this deal. With any luck we'll find out real soon.
Also, bear in mind that when anyone signs into these contracts such as Windfield has here. They are aware that by sacrificing some of the risk they'll have to sacrifice some of the value. By agreeing to sell the 10% way back when they were significantly derisking their own balance sheet and as a result they knew they wouldn't be getting full value for their 10% when it comes to transferring ownership. It's all risk Vs reward.
You can't say to someone, I'll sell you my car for full price today but I still expect to be able to use it when I want and you to pay for filling it up. Deal?
come on guys, too much speculating here. we don't know enough to try and work out what windfield will get for their 10%. it certainly won't be £30m as some are suggesting.
a decision to mine was always going to send the value 10 fold so for alien to say yes we'll give you half of all of that just for your 10%. if i recall, wasn't the previous deal before it was renegotiated worth about £1m to windfield. to renegotiate that up to £30m is one hell of a negotiation.
too many uncertainties in the wording.
how is the value of the project measured. npv10, npv5
what discounting factor is used
what exchange rate
how is the uplift calculated. what is the start point
what is the definition of 'the projects'. thought han**** was just one project.
what costs will be incurred by alien that will need to be deducted from the uplift calculation.
what costs can be included. there's 28m capex costs which reduce any consideration due to windfield massively
from when are the costs calculated. we've spent several million just exploring and keeping the lights on.
this will be all clear in a 40 page contract signed by both parties and which we'll never get to see. we've seen a handful of sentences from that contract.
hh, i don't have visibility of the terms of the one off payment with me now but basing the uplift on han**** as a whole doesn't make sense. we already own 90% so why would we give winfield 50% uplift in what is already ours. it makes more sense to give him the 50% uplift in his 10%, which would be significantly less than what you think.
as always, we are never privvy to all the detail on these kinds of deals but i suspect there will be some caveats or conditions that cap the amount ufo would be required to pay. they certainly won't be paying £30m to windfield for 10%.
Yes, I think it's safe to say that year 2 will generate more profits than year 1 and year 3 more than 2. All things being equal with commodity price and supply costs of course. Efficiency improvements alone will be huge. These have not been factored into these initial costs which are likely to be highly conservative imo.
HH
From the end:
- The Development Study is comprised of limited study elements at typical Pre-Feasibility Study level (e.g. resource estimates and mining inventory), and the majority of elements at Feasibility Study level (e.g. cost estimates, approvals, offtake, financial modelling etc).
'Majority of' suggests that something's are missing. I suspect it's largely the finance modelling as they won't know what that looks like yet. They said the next step was to:
Progress funding discussions, including self-development, possible joint venture options and other funding arrangements
This clearly shows they have not yet landed on what financing looks like so I suspect financing costs are excluded from the analysis. Just imo
Also, it's easy to see why Fenix bought up most of their logistics costs. I am surprised just how much of the total cost is made up by logistics. What's to say UFO don't go the same route as Fenix and start buying up the supply chain.
With Brockman and Vivash then it's possible that UFO could be here for 20 years + so buying up the supply chain early on will have huge benefits.
we must also consider the huge uplift in the commercials when 10mt of ore is mined over 2 shifts.
it is highly likely there is 15m+ ore in han**** and if the ore price spikes again then we have the flexibility to turn up the output by putting on 2-3 shifts. at that point han**** becomes an unbelievable cash cow.
by the time we have exhausted han****, brockman and vivash will likely be well into production.
there's no certainty with any of this but plenty of news to come. aisc of 80-85 is good for now. finance probably not included as it will likely be short term finance anyway. as long as the ore price stays above 110 then we'll be fine imo