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"On 3 July, Atlantic Lithium's managing director Keith Muller rejected a proposal from the Minerals Income Investment Fund (MIIF), headed by Edward Nana Yaw Koranteng, to buy an 8% stake in the project for €25m, according to two confidential letters obtained by Africa Intelligence."
https://www.google.com/search?q=atlantic+lithium%2C+reject+miif
MIIF investment will be into the project, not into ALL.
If MIIF invested into ALL it would:
1) Only get a cut of the profit that ALL make, if ALL spend all it's profits then MIIF make nothing
2) Expose MIIF to projects in the future that are outside of Ghana and thus beyond the remit of what MIIF can invest in based on it's own governance policies
3) Expose MIIF to all of the risks that are inherent in ALL, including market risk, operational risk (outside of the project), reputational risk, economic risk (of ALL being based outside of Ghana), etc.
If MIIF invests in the project it would:
1) Get a cut of profits at the mine level, bypassing ALL's internal spending, pretty much guaranteeing income to the fund every year
2) Have a percentage say in how the project develops, for example the desire for in country processing once the resource is at least doubled making it then a viable option, expanding production rates, etc
I'm sure there are other pro's and con's so feel free to add to these.
The Company is pleased to announce that it has received valid acceptances and excess applications from Qualifying Shareholders for a total of 67,573,855 Open Offer Shares under the Open Offer, representing approximately 38 per cent. of the 175,863,121 Open Offer Shares available under the Open Offer.
As a result, and subject to Second Admission becoming effective, 67,573,855 Open Offer Shares will be issued in connection with the Open Offer, raising £0.84 million (before expenses) for the Company at an Issue Price of 1.25 pence per Open Offer Share. As a consequence, the Placing announced on 7 July 2023 and the Open Offer will have raised, at the Issue Price, £1.94 million (before expenses) for the Company.
I have no idea who you are referring to, but it sounds like a load of compost. Are you another incarnation of him?
Member Info for Happycomposter
Member Since
16th Dec 2021
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4 posts in 18 months and every post is on QED, no other stocks?? Very odd!!
BTW no idea about SC but my employer is me so I know everything EyeAmDoing.
In your case I take it that it's because you don't want people to see what other stocks you hold, in case they start trolling you like you do to them after you post abuse, attempted defamation or ridicule targeting them relentlessly, based on some ludicrous and pointless fixation with a mythical poster that has long since disappeared.
More garbage to report. That's one hell of an arrogant posted obsessed with someone that appeared on boards almost a decade ago. A very healthy obsession with defamation, to what end I ask myself, because anyone that lives in the real work doesn't give a fig about his incessant ramblings about someone just as anonymous as him. You would think the guy ran off with his wife, or killed his dog, but no, apparently all the guy ever did wrong was post his opinions just like everyone else on the discussion boards. Rather than defame anyone on here, he is just showing everyone how sick in the head he is.
I don't see any question over partial or full processing. In the DFS they clearly state that they will start with modular processing for early revenues whilst the full mine is built, and once the full mine is built they will go to full production.
"Initial processing of approximately 450,000t of ore will be carried out over the first nine months, starting Q2 2025, in an early production processing plant fed from Ewoyaa South 2 pit, prior to processing through the main 2.7Mtpa processing facility from Q1 2026 for 11 years."
"Over the life of mine ("LOM"), the Project is estimated to produce 3.58Mt of 6% (SC6) and 5.5% (SC5.5) grade spodumene concentrate, as well as 4.7Mt of secondary product, which have been identified to be saleable given current and forecast lithium demand projections."
As for the ML, I see no reason for concerns or any doubt over the ML and it's timing. The Government keep talking about it going ahead and being a big thing for the country, the schedule for mining is in place in the DFS which would have had to have been discussed with the Government before being put into such a document. So long as the ML arrives in time to do the mining to the schedule advised, I see no issue, and I fully expect the ML to arrive in time.
4. Further Exploration Potential:
The lithium-clay mineralisation remains open to the west, and north, indicating further resource upside, as backed up by the previously reported 1Mt to 6Mt LCE JORC Exploration Target identified by SRK.
Holes BES23-05, 06, 07, 08, 09 and 10 encountered a thicker and more consistent upper clay thickness on BEE than found at BE. Drilling to date has demonstrated the upper clay gradually thickens to the north, northwest, and to the west towards BW, which is very positive for resource expansion potential into BW, see Figures 1 and 2.
The total upper clay unit is 78.41m in width on average in BEE. To put that in context the average thickness of the upper clay unit at BE is 34.00m in all the previous 34 holes that intercepted upper clay in the last 3 drill programmes (2018, 2021 and 2022). See Figures 3, 4 and 5.
Resource estimation work is now underway to produce an updated Mineral Resource Estimate, with SRK incorporating this new drill data.
The recent drill results on BEE solidify Bradda's belief in a widespread and continuous lithium-rich stratigraphic sequence with potential across BN and BW that the Company believe will lead to significant resource growth and opportunity to become a Tier 1 deposit.
Charles FitzRoy, CEO of Bradda Head Lithium, commented:
"We are extremely excited about the potential for significant expansion of the resource at the Basin Project. The high-grade lithium intercepts encountered in the recent drilling campaign demonstrate the exceptional potential of the project and underscore its importance as a potential strategic lithium asset.
"The 2023 drilling programme at the Basin Project is focussed on further expanding the resource base, delineating additional lithium-rich zones, and is working with SRK to release an updated MRE."
"The Company will soon be kicking off its Phase 3 drill programme at its 23km2 San Domingo pegmatite district in Arizona, with the main aim to delineate a Resource and also to build on the promising results of the maiden drill programme which finished earlier this year."
The programme has continued to encounter better-than-expected thicknesses of clay confirming that lithium-bearing clays continue and thicken to the west, northwest and north into the Company's BEE lease with probable extensions into adjoining Basin North ("BN"), and Basin West ("BW") claims. These positive indicators are expected to lead to significant resource expansion for the Company this year.
2. High-grade unit
The high-grade unit previously found in Basin East ("BE") has similar grades and maintains strong continuity across all of BEE, likely extending into BN and BW.
This is very positive for any future mining operation as the high-grade unit sits in the upper clay unit which forms the shallowest part of the deposit, essentially cropping out at BE.
The assays have also identified high levels of molybdenum associated with drill holes BES23-06, 07, 09, and 10 and within the high-grade unit of between 109ppm over 22.56m in hole 06 and 187ppm over 16.44m in hole 10. To put that in context, Freeport's Bagdad copper mine (c.6 miles from Basin) which extracts a healthy molybdenum by-product credit has a molybdenum Proven and Probable Reserve grade of c.200ppm.
3. Resource Expansion:
The new drill results demonstrate the potential for a substantial expansion of the lithium-bearing clay zone at the Basin Project, significantly increasing the potential resource base.
The remarkable continuity of the lithium intercepts suggest the presence of extensive lithium mineralisation throughout the project area, indicating the potential for a sizeable lithium deposit.
Bradda is targeting a +1Mt LCE (lithium carbonate equivalent) Resource this year, which would trigger the next royalty payment of US$2.5m from LRC.
Can we really compare ALL with Aussie Lithium juniors?
ALL is going to be producing Spod next year using modular DMS plants
ALL DFS is based on a very low price way below the current spot price, so unless the spot price drops below it, how can the Lithium price be of any concern to ALL shareholders?
ALL is 100% backed in it's plans by the Government of Ghana, in fact also helped to make sure things go to plan (the advice to resubmit the licences with the additional areas included)
The Ghanaian MIIF fund is looking to put $25-$30m into the project
The upside potential for the mine is massive
Two additional licences for work on once the revenues are flowing in to support the work
Big global OEM's (car and battery manufacturers) have already been calling ALL to get offtake, now the DFS is in place deals can be done, or they might just wait for ML, but deal discussions are obviously already in progress today and have been for a while
What do the Aussie juniors have that even comes close to that????
Does anyone have a spreadsheet of Lithium juniors and their cash, PFS/DFS figures, MCap, and timelines? I'd like to compare as many as possible so if anyone already has a spreadsheet they are happy to upload to a file share, that would save me some time, thanks!
19 July 2023
Conference Attendance
Atlantic Lithium Limited, the African-focused lithium exploration and development company targeting to deliver Ghana's first lithium mine, is pleased to announce that the Company is attending the Noosa Mining Investor Conference in Queensland on 19-21 July.
Chief Executive Officer Keith Muller will deliver a Company presentation on Friday, 21 July at 11:15am.
Members of the Executive team will also be available throughout the conference at the Company's booth.
Details on how to register to attend the conference in person or watch online can be found via the following link: https://www.noosaminingconference.com.au/.
I'm not sure MIIF involves dilution as I see them buying into the project not into ALL. So it would be project investment for a share of the profits.
They don't need to own ALL stock for that, and it also takes away the risk that ALL could spend the profit leaving MIIF with no income.
Investing at the project level means MIIF getting their cut of profits at the mine level, which takes ALL's spending outside of the project out of the equation. Further development would come out of profits so MIIF would understand that the investment in development was for future increased profits and/or mine life.
'Critical minerals for clean energy transition to grow 3.5 times to 2030 reports IEA'
'The amount of critical minerals needed for the clean energy transition is set to grow 3.5 times to 2030 according to the IEA, which has released an online critical minerals tracker alongside today’s report.'
https://www.h2-view.com/story/critical-minerals-for-clean-energy-transition-to-grow-3-5-times-to-2030-reports-iea/
https://www.iea.org/data-and-statistics/data-tools/critical-minerals-data-explorer
Oh right, so in Vince's world there is something known as Haggisworld. It sounds like a Scottish theme park for Scottish investors in theme parks? What a weird thought. Are there actually any Scottish investors? I thought based on folklore that they kept all their money safely in the bank or under the mattress, so would never be seen risking something as risky as investing. None of which has anything to do with this thread of course. Maybe Vince will filter me for the second time now?
They must have been extremely peeved to then sell out, even though I guess they made a profit on every sell, but cutting off your nose to spite your face?? I thought they would have more professionalism than that and looked at the upside potential of keeping hold of the stock. That's one fund manager to avoid, as the last thing you need is someone that throws their toys out of the pram, negatively affecting your fund investment or pension.
LL,
"but still to be ascertained is, if the spokesperson from MIIF has the same opinion on the meaning of "about to" that you have..."
It's not my opinion I posted, it's the definition in the dictionary that I quoted ;-)
The phrase is subjective of course, but surely within certain bounds. The dictionary says "If you are about to do something, you are going to do it very soon", the pertinent part being "very soon".
Africa generally moving at a slower pace than UK, EU, USA, to them "very soon" might mean in the next month or two, but after reading his profile I'd say he's going to be more in line with UK or EU perception of "very soon", considering he's had a lot of education in the UK and was dealing with international banking prior to MIIF.
https://miif.gov.gh/team_mf/edward-nana-yaw-koranteng/