Member Info for DRWHO319

In Hainan's shareinfo (https://quote.eastmoney.com/sh601969.html): In KMUK, No mention of $15m payout to govt, other then stating total holding of JV is reduced to 65%, AISC is $800. DYOR. GLA

Even if my some magic , zulu can produce something like SC6 (unlikely), look at the SC6 price and Lithium at chinese future market (below 70,000RMB/Ton today), what Perm can do to NOT keep loosing money , let along with the huge debt already on the book! GLA

I hope I was wrong, But If I am right , who is idiot ? Use your brain if you got one!!)

That is the Point ! IF Kod were starting to produce today, they would be making -$100/ton... I think this delay is made deliberately in the hope by sometime Q1 2025, SC6 price will recover , IMHO, unlikely , IF Govt insists on its 30% as set out in LAW, we will be in trouble ! GLA

IMHO; Delay is not problem, only risks are 1) Future SC6 price (Kod price FOB china is $800 as stated by Hainan ), we know the production is 120,000t/yr, we have 49%, so easy cal on future cash flow. 2) Govt stake (@ zero cost for 30%), even Ganfeng next door have to pay, but so far, KOD/Hainan seemed refuse to give, hence no license transfer to the JV entity . If 30%% has to be taken, SC6 pice is less than , say $1000 FOB China (by Q12025 (Big IF, unlikely IMO), then justification for .50p or £100m MCap will be in seriously doubt ! Just my personal view. GLA

in canmax's chinese stock (300390 sh) news, they have not mentioned anything about zulu pro ever since one yrs ago that admitting the investment in prem equity is a loss!!! so gr went to china recently , what happened??? if you were mr pei, what would you do this this ****hole? run it into ground and send prem a fat bill, that's what i would do!

The worst thing is that we have a 2nd-hand car salesman pretending to be an expert and running a one man's show company( GR ) who has solidly demonstrated its ZERO credibility with Canmax, investors over and over agian!!! So what kind of rabbit he can pull out his miserable sleeve by now??? Still try to sell the company at $300m ??? Dream on !

This is true figure, meaning even IF (a big if) Prem can produce SC6(which is not happening anytime soon), prem will lose $300/ton!. let along this plant cant't even produce SC4 and obtain an export license and cashing is running out (if not already dry). Meanwhile, debts and interests continue to increase (more than current Market Cap)! Anyone with min financial sense will know what to expect! GLA

The whole point of this permit is that it gives solid base for this exploration Co with 3m Market cap , together with $3.5mish cash raised recently (@0.04) to kick off without raising more funs from us !!!! Step-by-step moving onwards from now!!! GLA

If I was Pei, that's exactly what I would do, i.e. let GR to sink with the Prem ship while organising another Chinese Co to pick up the Zulu for a penny! Afterall, Canmax has done everything it can but GR screwed up in totality! No export license for 320ton of SC4, no confirmation of SC6, low SC6 price ($1019CIF), high cost of production ($850+$150shipping), high debts ($40m+),no more money!! GLA

Wrong “raw material spec” was my biggest concern when GR said that the Mica contents was 27% (instead of 12-15% assumed in stark's design) ! The excuse from GR was "it maybe just at surface level, will reduce when dig deeper " , that doesn't make sense !! DYOR GLA!

Yes, sadly chinese future market is down big time! Not many buyers even though the seller hold the price, but little buyers !! Will be interesting what 28th Report will say, provided is an audited account ! GLA

Hainan Mining (601969.SH) said on the investor interaction platform on June 14 that the company's lithium hydroxide project (Phase I) is currently under construction with a planned production capacity of 20,000 tons/year. The product is positioned to meet the upstream needs of international high-end lithium battery material companies. The project is expected to start system commissioning at the end of July 2024 and be completed and put into production in the third quarter of 2024. It is currently estimated that the shipping time for lithium concentrate shipped back to China from Mali is about 1-2 months. The shipping time of lithium concentrate is affected by many factors such as shipping schedule and route. The company will pay close attention to market changes. At present, Mali levies mining rights tax based on operating income.

Yes, crazy trades in HE1, EUA etc.... Well , fair enough and good luck to them. haha

I am am UK Charted Civil Engineer CEng MICE, so i know what I.m talking about! Just want PI to know how things really work in China, extremely efficient . no need to employ a lot of locals do things that they haven't clue or skill. just pay these local and saying go too smoke something to knock yourself out and enjoy the day !! So everybody will be happy !! haha, its real!

The main structures will ALL BE prefabricated steel buildings to put on top of it, IN China , they can build up tp 6-10 stories of prefarbricated building in factory, I have seen them!! Its cheap than pouring concrete on site, i all over the african housing projects for 2-5 bedrooms apartments all over the world ! Besides, the ground likes very solid gravel soils with very low groundwater level ! So no fake!!

Entitlement is NOT obligation , Dude ! Jus !!t send a fat bill for $50m+, All SHs will be screwed !!!

Remember the initial Mica was 13--15%, now is 27%! no way GR can fix it with his 300+ local people! the price to pay for not done a DFS!! So Stark will not pay a penny and the Plant is no use !! Note the SC4 (what we have in thesags) , the sale price in China is 898USD/ton (Meaning CIF price ) and Prem cost is $800+$150shipping, Chinese Cos are only buying SC6!!! Zim govt is also NOT happy at all!! So what leaves Canmax to think, pay $200m cap to buy Prem? Not Way! GLA of topping ups !!

But what if Canmax just send a bill for $45mish then what?

SC6 is what Canmax contracted to buy, so another month of £2m interests! Noticed GR said "It should be noted that prices are quoted for spodumene concentrates at lower grades and these prices are in the public domain"! So no SC6 price of $1114, much lower !!! GLA