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https://www.ubs.com/global/en/wealth-management/our-approach/marketnews/article.1586323.html
Mexico has a bright EV future, if it plays its cards right

Tesla, opportunity for Sonora: Governor of Sonora

Alfonso Durazo Montaño, governor of Sonora , argued that the entity can be an investment opportunity for Tesla, mainly in sustainable energy.

The governor explained that the Sonora Sustainable Energy Plan will be exposed to Elon Musk, the owner of Tesla.

I am optimistic that this visit will result in a commitment from the Tesla company to its establishment with one of its many manufacturing branches here in the state. It will be the center of the agenda of that visit and within the framework of the Sonora Sustainable Energy Plan, particularly the generation of clean energy that is being projected in our state”.

The Sonora Sustainable Energy Plan is the biggest bet of the Government of Mexico in terms of clean energy generation, this may be exposed to the businessman in the field of electromobility, Elon Musk, in order to invite him to invest in the entity taking advantage of the moment by the one that crosses the state.

https://www.imagenradio.com.mx/tesla-oportunidad-para-sonora-gobernador-de-sonora#view-1

https://economia3.com/2023/03/02/526565-los/
Latin America exploits lithium: Tesla will manufacture its electric cars in Mexico
The added value of lithium
Similar to the roadmap proposed by Argentina, the Mexican government intends to go beyond the simple extraction of raw materials. Despite the fact that the price of lithium has increased a lot in recent years, the economic performance of providing added value to the material is much higher. If in the Argentine case the location of battery factories in the country is sought, in Mexico it is a condition for extracting the lithium that is used to manufacture in the region.
In the process, everyone wins: the Central American country starts from a stronger position when it comes to exploiting the material resources that the country has; and Tesla achieves a beachhead in the lithium reserves from which to launch the massification of its products.

@observer that is how FVTPL works there should be an entry on the P&L for the gain on the asset value.

In a similar way the share price is set by the last sell or buy and that is used for mark to market value.

FYI:
Until now, the Ganfeng firm has not ruled on the formation of the parastatal company that will have control over lithium in Mexico, which (we presume) is because this process will not affect its project. It should be noted that, since 2009, the Bilateral Investment Treaty with China has been in force in the country, and that under this treaty the Asian company could sue Mexico for any direct or indirect expropriation for a multi-million dollar amount. A demand that could be projected on
the investment that the company has made to date as well as on the profits that it expects to generate in the future, as other mining companies have done when they perceive that the measures taken by governments or regulatory agencies in the country could affect your investments.

It's all speculation, but I don't think anything will be given away without money changing hands. AMLO could line up a consortium to take it over and buy the Sonora Lithium project out with LitioMx holding a majority. Tesla, GM, Ford could potentially take a stake in return for offtake.

I mean Ganfeng and LitioMx could already have a deal in place (going by AMLOs words) that is not public and that could be part of the reason for the company changes (or it could be nothing)!

AMLOs words imply that a deal has been done already to me.

Assuming it's not an internal transfer to another Ganfeng entity which is entirely possibly (but why not file both forms at the same time) then it would mean Ganfeng own less than 25% so potentially none which would be an interesting development for sure.

https://www.theyucatantimes.com/2023/03/lopez-obrador-open-to-musks-participation-in-lithium-plan/
Andrés Manuel López Obrador, president of Mexico, revealed on Wednesday, March 1st, that he is open to inviting South African tycoon Elon Musk to participate in the lithium exploitation plan in the northern state of Sonora.

Patience right @Mer! Get well soon.

MEXICO CITY, March 1 (Reuters) - Tesla Inc. will create up to 6,000 jobs at its first Mexican factory and is considering producing batteries in the center of the country as the electric vehicle maker eyes further investment, senior Mexican officials said on Wednesday.

"investigate and review the flowsheet to improve the final product quality over and above the current 65% iron ore concentrate." Would be a big deal if we can get a better grade out.
http://irservices.netbuilder.com/ir/cadence/newsArticle.php?ST=REM&id=311428231103268669

You have two current prices from the analysts 43.6p and 71p but it really depends on the outcomes of any deals now and the performance of our public holdings. Also the Evergreen Lithium listing and drilling news to look forward to.

Interesting:

AMLO underlined that Ganfeng has complied with all the laws and regulations, but the government is looking to reach an agreement to avoid a legal battle with the company as the authorities aim to take control of lithium assets. However, the status of any talks remains unknown.

“In the event of a possible expropriation, despite the minimal investments they have made to date, these companies could still resort to suing or putting pressure on Mexico based on the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP),” the report said.

Tesla have discussed getting in to mining and have patents for extracting lithium from clay which is what "the exchange of technology for the exploitation of lithium" refers to in my earlier post (17:15).
It would appear the battery factory location is yet to be decided so there will be more news to come.
I'd recommend reading the Bloomberg Linea interview with the CEO of LitioMx:
https://www.bloomberglinea.com/english/mexicos-state-owned-lithium-company-is-negotiating-partnerships-with-private-firms/
LitioMx acknowledges that it lacks the capacity and technology, such as in the exploitation of lithium clay deposits. ”It is the most complicated. In this process we are definitely going in a public-private partnership”. When questioned about the future of the concession of the British firm Bacanora Lithium with Chinese investment from the firm Ganfeng, the manager mentions that the conversations are not limited to a single company but with people or companies with concessions throughout the country. ”We are in negotiations to see if they develop together, we reach an agreement so that they are delivered, those concessions are returned to LitioMx or they can continue. They have the right to that concession”.

LitioMx has also approached companies from the United States and Canada that have shown interest in associating, in addition to companies from other parts of the American continent, however it preferred not to detail whether Tesla, which is about to install a factory in the country, would be among those conversations.

Also see today's RNS:
"Earlier this month, the Mexican government passed a presidential decree confirming that within a 900 square-mile lithium mining zone in northern Sonora state, existing concessions would "remain safe". This aligns with the general opinion that the Decree passed by the Senate only impacts licenses, concessions, or contracts to be granted, not already those granted, as is the case for the Sonora Lithium Project."
And on the website:
"In 2021 the Mexican senate elevated lithium deposits to the category of “strategic minerals”, declaring the exploration, exploitation, and use of lithium to be the exclusive right of the state. It is our current view that the Decree passed by the senate only impacts licenses, concessions or contracts to be granted not already those already granted as is the case for the Sonora Lithium Project. Therefore, at this point we do not believe there is a material impact to our joint venture areas."

I don’t expect it all to play out tonight but “Ganfeng are in negotiations with the Mexican government regarding Sonora Lithium” was reported last month

Presume you're aware of the history between REM now KDNC and Tesla?
http://irservices.netbuilder.com/ir/cadence/newsArticle.php?ST=REM&id=1577496
Have a read of this:
https://www.reddit.com/r/teslainvestorsclub/comments/11aokez/could_tesla_mexico_revive_this_2015_lithium/

https://www.eluniversal.com.mx/nacion/mexico-en-platicas-con-tesla-para-instalar-planta-de-baterias

"We also have interest and talks with Tesla to explore the installation of an electric battery plant and also the exchange of technology for the exploitation of lithium," he said.

Also read AMLO prepares a tour with Elon Musk, owner of Tesla, because "he is interested in investing more in Mexico"

"President López Obrador also explained (to Elon Musk) the opportunities that will also come in the Transisthmic Corridor, and the opportunities of the Sonora Plan," explained the undersecretary.

The proposals were made because the businessman is also involved in issues of energy, aeronautics and the aerospace industry.

"All these are conversations that they had and that they are quite interested in. I would say that today's announcement is a collaboration, it is the beginning of an interesting collaboration of the company in Mexico that is for the next half century and is long-term," he said.

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https://www.eluniversal.com.mx/nacion/amlo-alista-tour-con-elon-musk-dueno-de-tesla-porque-esta-interesado-en-invertir-mas-en-mexico

President Andrés Manuel López Obrador assured that Elon Musk will come to Mexico to tour the country , because "he is interested in investing more in Mexico."

“He wants to come, he also sent me to say yes when I think we could tour the country. We talk about the development of the isthmus, we talk about Hidalgo, for a possible battery plant in Hidalgo. I talked about the Sonora Plan with him, ”he explained.
He said that he will take him to Sonora to see the Photovoltaic Plant located in Puerto Peñasco, which is part of the Sonora Plan , as well as show him the potential of the entity in terms of the exploitation of lithium and copper.

Read also Mexico offers Tesla something that they do not give in the US

“I am thinking of going to Sonora, to see the solar power plant, to know everything about the Sonora Plan; the potential in copper, lithium, I clarified that it has already been nationalized, but it does not imply that we cannot agree ”, he affirmed.

Delgado reported that this is not the only Tesla investment that is working with the Mexican government, since the manufacture of batteries for electric cars, the exchange of technology for lithium processing in Sonora and a series of value chains that the automaker also has for the aerospace industry.

after presenting the clean energy generation plan to 80 diplomats and international representatives in Puerto Peñasco, and days ago to leaders of national business leaders, now at the invitation of the national business community will make a presentation in Mexico City to 500 businessmen on the benefits of investing in the entity, and announced that in Toronto, Canada will present the issue of lithium and the Sonora Plan at a mining convention of Sustainable Energies that places the entity as a global benchmark in clean energy and sustainable development.

The state president explained that he will visit Toronto, Canada, to participate in the International Convention of the Association of Mining Prospectors and Developers, which will be attended by up to 30,000 people from 130 countries, and will represent a valuable opportunity to publicize the Sonora Plan .

“We are going to be there presenting precisely the Sonora Sustainable Energy Plan and particularly the issue of lithium. We received this invitation from the mining companies of the State of Sonora; a good part of them, by the way, Canadians, ”he indicated.