Member Info for EV_Bull

Surely this means a deal is done though, he won't be wanting egg on his face visiting there and planting the LitoMx flag and getting embroiled in a 10 year legal dispute.

In fact this is the clip https://twitter.com/jenarovillamil/status/1615010387769835521
he is pointing to bacadehuachi and I think we all know about La Ventana (probably a lot more than the journalists do)

@Jimb2 I'm pretty sure Mexico's most important Lithium mine is not in Banámichi lol!
There is a Silver/Gold mine in Banámichi but no Lithium.

"Only one lithium mine in Mexico, operated by a Chinese company in the northern state of Sonora, is anywhere close to starting production.

That operation, Bacanora Lithium, appears to be Mexico’s only viable private lithium mine and had been expected to start production in 2023. It is owned by Chinese lithium giant Ganfeng International.

At one time, the government had said the eight concessions for mining lithium already granted in Mexico would be respected as long as they were well on the way to producing the metal."

Well this sounds very strongly like a deal is in the works and we won't have long to wait to find out.

Looks like water may be less of a problem for phase 2 expansion.....

https://nocamels.com/2023/01/israel-to-build-5-5b-desalination-plant-for-arizona/

An Israeli company is to build a $5.5 billion desalination plant in Mexico, to supply the US state of Arizona with drinking water.
The plant will be built in Puerto Peñasco, a city in northern Mexico’s Sonora state, and water from the Sea of Cortez will be sold to Arizona once operations are completed in 2027.

In its submission to WIFA, it said the project would also supply water to Sonora, Mexico.

The value of the assets exceeds your purchase price but the market can do anything, by the end of the year anything could happen, EMH should have good news Evergreen, HAS, Sonora. Amapa deal with "strategic investor" etc. If I was putting a range on it then 35p-120p. 15p is undervaluing the assets hugely. 35p is around what WHI's (low ball)value of Amapa PFS + other assets at book value, I'd see that as a starting point.

If they could have just taken it from Ganfeng they would have done so by now, that puts Ganfeng in a pretty strong position from a negotiations standpoint to allow LitioMx in as a JV partner and securing the future of the project, I would imagine the price is the sticking point but $48bn being pledged from the US for the Plan Sonora should help a little.

Remember this is before lithium prices took off...

https://www.mining.com/bacanora-lithium-accepts-ganfengs-391-million-takeover-offer/

China’s Ganfeng Lithium, one of the world’s top producers of the battery metal, is going ahead with the takeover of Bacanora Lithium (LON: BCN) as the Mexico-focused explorer and developer has accepted a sweetened £284.8 million (about $391m) cash offer.

Ganfeng increased its original bid, submitted in early May, to 73.6 pence per Bacanora share in cash and Germany-focused Zinnwald (LON: ZNWD) shares, in which Bacanora holds a 36% stake. This compares with Ganfeng’s previous offer of 67.5 pence per share in cash.

Indeed, I wouldn't be invested here if I didn't see a substantial gain... and neither would Kiran.
From KM:
"I'm not going to be investing at these prices thinking that it's going to go up a very small amount. I certainly feel there's substantially more value that we have in cadence."

There's not even a need to speculate, 30% of a $949 NPV based on a lower ore price than today (and can be increased with longer mine life and lower capex on the port) is 232.51 million pounds which is £1.34 per share then you have 8p of other assets based on book value + Sonora you're at £1.42. Even if you apply a 50% discount to that you're at 71p. Sonora is just a free bet at this stage, if it pays for 49% of Amapa then these numbers are all revised upwards.
49% being £2.20 per share (+8p + Sonora) the market is sleeping here, an offtake and funding deal could be in the works and would substantially move the needle. Again no need to speculate KM has told us as much. 40p would be significantly underselling what we have double would be a good starting point for a discussion.

"The opportunity for DEV is to advance the Amapá Iron Ore Project to a Financial Investment Decision. This could be completed along with securing a strategic investor, offtake partner, separate listing, or a combination of these options."

"it will really be depending on discussions with potential strategic partners into the asset, we may decide that it be better to take money from those people to fund those assets rather than either divest some of our shareholding or dilute our equity position in the UK by placing."

" if there is a good opportunity from a strategic investor, there is no reason the joint venture partners wouldn't consider taking that money and for us that would prevent any further dilution in terms of funding going into it by selling off investments that we didn't wish to or raising capital in the market."

The market will wake up eventually and holders will see a significant profit from here IMO. (DYOR) ;-)

Some pictures from October:
https://notiosonora.mx/2022/10/17/explotacion-del-litio-representa-un-extraordinario-potencial-para-sonora-gobernador-alfonso-durazo/

Nine roads to connect the small villages in the area...
https://liberaradio.com/con-caminos-artesanales-comunicamos-a-comunidades-alejadas-durazo/
No doubt they are going to need a significant workforce for the mine and plant, I expect this is being done as part of that (even if they don't admit it).

----
The construction of artisan roads has been one of the most successful programs in municipalities in the Sonoran sierra.

These reach nine remote communities that previously did not have access roads; This was stressed by Governor Alfonso Durazo.

With this program of artisan roads, management carried out before President Andrés Manuel López Obrador, each of the municipalities was assigned a budget of 50 million pesos and it is carried out with local labor in the municipalities of Arivechi, Sahuaripa, Ónavas , Bacanora, Soyopa, Yécora, Rosario, Quiriego and San Javier; eight of them with artisanal concrete, except San Javier, which is with asphalt mat.

“Manpower from the people of the communities themselves, that is, we generate employment and communicate to those populations. Look at those tiny towns. When was a road going to come to them? In their life. Now, fortunately, they have it, ”he said.

Heriberto Aguilar Castillo, head of the Urban Development Secretariat (Sidur), said that in the municipalities where roads are being built with artisanal concrete, the available labor is being used, and there were even workers who were out of their place of work. origin and returned for the employment opportunity.

"some conclusions have already been reached"

“The objective of the meeting was to review the progress of the Sonora Sustainable Energy Plan. We are doing extraordinarily well and some conclusions have already been reached, but right now I inform you that President López Obrador will visit Sonora on Friday the 17th, Saturday the 18th and Sunday the 19th of February. One of the objectives of this visit will be, precisely, to have a next meeting in Sonora to assess progress in the Sonora Sustainable Energy Plan, ”he said.
.....
The President of Mexico and the Governor of Sonora will visit Bacadéhuachi, as it is one of the points with the highest concentration of lithium in the region, and the project for the construction of artisanal roads in eight municipalities of the mountains will also be monitored.

https://www.infocajeme.com/general/2023/01/hay-plan-trilateral-para-litio-de-sonora-durazo/

I'm expecting they'll sell at least half to LitioMx. Sounds like they are in talks / negotiating a deal.
[Kiran]
" the licenses are still valid. And as the Mexican ruling was effectively, that's for new licenses. So I really can't say much more than that because, of course, anything that Ganfeng or discussions that occur between them and the government are commercially sensitive. And once there is something that is significant and price-sensitive, we will announce it, and we'll make the public aware of it."

Governor Alfonso Durazo met with President Andrés Manuel López Obrador ( AMLO ) to review the progress of the Sonora Plan regarding the consolidation of the company Litio para México (Litio MX) and the generation of photovoltaic energy. Just as he exposed the mechanisms with which the United States will begin to participate in its development.

“The efforts of the federal government are concentrating on the state of Sonora, for the generation of photovoltaic energy. This is one of the first agreements of this meeting and also concentrating the efforts of Litio MX, the recently created federal government company, for the exploitation of lithium in Sonora”, said the governor upon leaving the National Palace.

Durazo announced that, on his tour from February 17 to 19, the president will supervise the progress in the construction of the solar power plant in Puerto Peñasco. For a subsequent visit, go to the municipality of Bacadehuachi, in the Sierra Alta, registered at this time as the one with the highest concentration of lithium in the entity.

capitalmexico.com.mx/politica/avanza-generacion-de-energia-fotovoltaica-y-explotacion-de-litio-del-plan-sonora-adelanta-durazo/

https://www.reuters.com/markets/commodities/uk-deepen-collaboration-critical-minerals-with-saudi-arabia-2023-01-11/

Interesting…

LONDON, Jan 11 (Reuters) - The British government said on Wednesday it had agreed to deepen its collaboration with Saudi Arabia on diversifying sources of critical minerals.

Britain's Business, Energy & Industrial Strategy department said the partnership could see Saudi investment in the UK’s manufacturing and mining finance sectors, and new opportunities for UK mining firms to do business in Saudi Arabia.

Sounds like a JV with LitioMx to me which I’ve been expecting for a while. Ganfeng have the much needed expertise and this is AMLO’s flagship policy.
Also notable if you read the article…. from the BCN annual report.
"The Company has been granted all environmental and water permits"

https://www.angulo7.com.mx/2023/01/12/mexico-hara-plan-para-que-eu-facilite-ciudadania-a-1-2-millones/
He commented that the Plan Sonora , a program for the exploitation of lithium , was presented to both countries, which will participate in a common plan for electromobility and electric vehicle installations.

https://www.reuters.com/world/americas/north-america-aims-make-25-what-it-imports-asia-mexico-says-2023-01-12/

MEXICO CITY, Jan 12 (Reuters) - Mexico, the United States and Canada plan to produce in North America 25% of what they currently import from Asia under a new drive to promote the integration of the region's economy, Mexican Foreign Minister Marcelo Ebrard said on Thursday.

Ebrard was speaking about the outcome of meetings this week in Mexico City between U.S. President Joe Biden, Mexican President Andres Manuel Lopez Obrador and Canadian Prime Minister Justin Trudeau.

Imminent @Obs... you wouldn't want to be out of this... ;-) xD haha