Member Info for EV_Bull

Sonora JV
2022-02-08 KDNC in In conversation with Ganfeng
https://www.reddit.com/r/CadenceMinerals/comments/sngah2/comment/hwcyu42/
2022-03-15/16 Ganfeng breaks silence: "We are going to continue in Sonora because the laws of Mexico allow lithium to be exploited". "We are not thinking of abandoning Mexico; we are confident that the Sonora project complies with all laws and is going to be very positive for the country and the region"
https://www.reddit.com/r/CadenceMinerals/comments/tgyvn2/ganfeng_we_are_going_to_continue_in_sonora/
2022-03-31 Sonora Phase 1 plan massively increased to 50kt/yr Lithium Hydroxide
https://www.reddit.com/r/CadenceMinerals/comments/tswuyl/ganfeng_annual_report_presentation_sonora_phase_1/
2022-04-08 Ganfeng eyes US OEMs for “strategic” stake in Mexican lithium project.
https://www.reddit.com/r/CadenceMinerals/comments/tz8dyd/exclusive_ganfeng_eyes_us_oems_for_strategic/
Elon Musk tweets Price of lithium has gone to insane levels! Tesla might actually have to get into the mining & refining directly at scale, unless costs improve.
https://www.reddit.com/r/CadenceMinerals/comments/tzbmyz/elon_musk_on_twitter_price_of_lithium_has_gone_to/

LT/LS
2022-03-30 Agreement to sell equity stake in Lithium Technologies and Lithium Supplies worth up to £3.72 million to Cadence.
https://www.reddit.com/r/CadenceMinerals/comments/ts0gq6/cadence_minerals_agreement_to_sell_equity_stake/
Interview explaining the benefits - namely:
Derisks our involvement as the cash and share payments upfront more than covers the initial investment.
Continue to be exposed to both the upside of the buyer's success and of the expected Lithium supply shortfall.
We are not exposed to dilutionary effects had we funded it through placings or selling assets.
Focus has to be on Amapa.
https://www.reddit.com/r/CadenceMinerals/comments/ts3hfj/kiran_morzaria_of_cadence_explains_the_benefits/

EMH
2022-03-07 Interview.
https://www.reddit.com/r/CadenceMinerals/comments/ta3p37/european_metals_holdings_asx_emh_projects/
Extracts from the last section https://youtu.be/WCu8tifOjWk?t=339
on upcoming news:
Definitive Feasibility Study running which will conclude later this year. Updates about how that process is tracking - various test work that we'll do: lock cycle test work; pilot plant work, etc etc
We need to get this project funded and have that funding equation sorted by the end of the year - so that involves discussions with European banks with European grant schemes, but also with off-takers.
For a lithium project in order to get funded you need to have bankable off-take. As the market has moved in our favour in the last 6 to 12 months, those off-take discussions are improving and it's a key area for us over the next 6 months.

https://twitter.com/Thematicafunds/status/1513215617695981573
"Tesla CEO Elon Musk Has Been Tweeting. Prepare For Lithium Stocks to Move"

https://twitter.com/LithiumIonBull/status/1512785831668469766?s=20&t=-YcoazWMwi0nS2lFezehZA
Howard Klein @LithiumIonBull
"#Spodumene prices are "insane," up 24%
#Hydroxide at $3-4K premium to #carbonate ex-China & at parity in China
#Lithium
Big, strategic M&A coming IMO..."

No

Even if they do plan to nationalise Lithium it's not a foregone conclusion that they would be able to do anything to existing concessions (or afford to) and also you would expect there would be compensation involved.

See what is happening in Chile:
https://www.bnnbloomberg.ca/chile-vote-marks-first-step-in-long-path-to-nationalizing-mines-1.1716630

" A proposal that opens the door to nationalizing some of the biggest copper and lithium mines in the world was approved in first instance by a committee as part of the drafting of a new constitution in Chile."

"The hundreds of billions of dollars needed to compensate private mining companies would imperil efforts to step up social spending and reduce inequalities, goals that sparked the constitutional process in the first place. If full compensation wasn’t delivered, Chile would find itself in international tribunals."

Yeah interesting I believe a flurry of LFP activity is beginning outside of China due to the key patents expiring with LFP tech. The stationary storage market will be huge too.

NAVIGATION IN FOCUS – A new Project in the Amazon
The DEV Mineração Company, which has been installed in the city of Santana, in the State of Amapá since April 2021, when it took over the liabilities of the former ZAMIN Mineração and Anglo Ferrous, resumed the activities of shipping iron ore through the Port of Companhia Docas de Santana. Last year there were 12 shipments. In 2022, it has already performed the first.Due to the good performance, DEV Mineração is developing a study to return to operation at the site of the former ICOMI pier. The project provides for the installation of a state-of-the-art loader (which is even classified as a ship), allowing the port to operate with CAPESIZE type ships. In this way, it will be possible to transport up to 150 thousand tons of ore. A landmark for the Amazon region.The Project arrives in the region at a good moment, due to the studies of the dynamic draft in Barra Norte of the Amazon River, which aims to increase the draft to 11.90. Last week, a meeting was already held at the Captaincy of the Ports of Amapá, chaired by the Captain of the Ports CMG Kaysel Ribeiro , and with the presence of Dr. Raquel Dalseco , CEO of DEV, and the manager of Serveporto in Santana, Mr. Rubens Silva where the project was presented to the Maritime Authority.

http://portaldanavegacao.com/2022/03/28/navegacao-em-foco-um-novo-projeto-na-amazonia/ 28/03/2022

----

Very interesting news and I haven't found the source yet (if there is one).

I suspect this is referring to a specialist transhipment vessel that would be used to load a capesize out at sea as we know it would not be possible to fill a Capesize in the Amazon due to draft restrictions.

There appear to be several solutions such as "Transmax" vessels specifically designed for this purpose.
----
https://www.drycargomag.com/transmax%E2%84%A2-a-self-unloading-bulk-carrier-to-overcom-draught-limited-ports
The Transmax is a 190,000 dwt bulk carrier on 14 metre draft, the existing capacity on the same draft is 120,000 dwt). Each self-propelled Transmax will be designed to match the depths of water available at each port, for example, a 60,000 dwt Transmax can transit a port with water depths of only 6.5 metre.
The Transmax is equipped with innovative cargo handling systems designed and built by thyssenkrupp Industrial Solution, capable to self-unload its cargo into any size ocean going vessel at rates of up to 10,000 tonnes per hour compares with prevailing technologies with a maximum unloading rate of 3,000 – 5,000 tonnes per hour
The effective net result is that the client will be able to increase the cargo throughput at almost zero cost.

Another thing on this sudden switch to 50kt hydroxide… Tesla’s 4680 is a high nickel battery chemistry that will require Lithium Hydroxide they aren’t making an LFP version. Ford and GM will be in the same situation currently wanting Hydroxide.

World of Statistics @stats_feed 5h

Lithium price ($/tonne):

2022: $78,032
2021: $17,000
2020: $6,800
2019: $11,310
2018: $14,660
2017: $12,070
2016: $8,840
2015: $5,110
2014: $4,680
2013: $4,750
2012: $4,450

Elon Musk @elonmusk Replying to @stats_feed
Price of lithium has gone to insane levels! Tesla might actually have to get into the mining & refining directly at scale, unless costs improve.

There is no shortage of the element itself, as lithium is almost everywhere on Earth, but pace of extraction/refinement is slow.

FYI: GM to invest $1 billion in Mexico for electric vehicle production, angering UAW members
https://www.cnbc.com/2021/04/29/gm-to-invest-1-billion-in-mexico-for-electric-vehicle-production.html

Ford decided to build two new electric models in Mexico instead of producing these in the US state of Ohio as workers there had hoped from 2023. The information comes from the US auto union UAW, expressing frustration at the loss of promised jobs at the Ohio plant.
at the end of 2020, Ford announced that it would produce an additional electric model at its plant in Cuautitlan, Mexico, where the Mustang Mach-E comes off the production line
https://www.electrive.com/2021/03/18/ford-to-manufacture-two-evs-in-mexico/

8th April 2022

China’s Ganfeng Lithium says major US automakers could make a “strategic” investment in the Sonora lithium mine in Mexico, as they seek to create a North American supply chain for battery raw materials.

China’s largest lithium producer said that an investment by Ford, GM or Tesla would help provide automakers with reliable supplies of lithium that can be easily shipped across the border to plants in the US.

“We are open to having strategic investors in our Mexico project, together with investment we could have an offtake agreement with them,” Wang Xiaoshen, vice chairman of Ganfeng, told Benchmark . . .

The rest of the article is restricted to Benchmark Membership subscribers.

Could be very strategic in the face of the nationalisation threat, very interesting and we know Tesla were previously interested and have a new 3 year supply deal with Ganfeng

https://www.mining.com/web/jpmorgan-says-be-ready-for-40-commodities-rally-in-market-shift/

What you have to realise is, the mindset "don't buy AIM shares" once perpetuated creates absolute bargains for those that do buy them. Yes you have to do more due diligence, but outsize returns are possible because of that exact mentality.

http://irservices.netbuilder.com/ir/cadence/newsArticle.php?ST=REM&id=311428221695889680

Just in case any of you were wondering what happened the LT/LS Lithium assets ( https://www.lse.co.uk/rns/CCZ/update-on-bha-project-and-lithium-assets-9tq3lo97ws26k2u.html ).

Cadence has struck a new deal whereby the consideration for LT and LS is up to A$ 21.05 million (£11.82 million). Cadence has 31.5% of LT and LS and would receive up to A$ 6.63 (£3.72 million). The Buyer is a public, unlisted company in Australia.

The supermajority required is two thirds*
Morena and allies are holding 277 of the 334 required votes in the lower house, 59 short of a super majority

If “the market” was always pricing all shares correctly there would be no point in buying individual shares (buy an index fund).

From time to time the market presents opportunities, this is one of those opportunities in my opinion.

25:05
and how much of the total sum of the amount of creditors is due to secured creditors
25:12
yes and i think people notice that i didn't put how much we'd actually set up the secured creditors for um and put a
25:19
uh an overall sum so overall we settled in 45 cents in the dollar or well
25:25
thereabouts which i think is a great achievement because if we take the credit to secured creditors alone in the
25:30
original pound they were going to be repaid their first their 135 million in its entirety we've reduced that
25:37
substantially now i would love to disclose uh that amount um however you can
25:42
understand from the secured creditors points of view and of course in our agreement with them they don't want this amount to close as it could compromise
25:49
their settlement negotiations that they are doing um you know got to remember that
25:55
our our amount of 135 million is simply a drop in the ocean uh compared to their
26:00
non-performing loan books of you know billions of us dollars so we're not going to be able to disclose that just
26:05
because it would compromise their commercial negotiations with any other settlements that are undergoing on far
26:11
larger sums now touching on the joint venture one investor asks if you could explain the
26:17
jrp and the agreement with the banks in a little more detail i think this sort of goes through uh
26:25
what i've disclosed just beforehand and for the sake of expediency uh i refer the question the shareholder to the
26:32
multiple announcements we've made on the jrp um all the way back to
26:37
whatever august last in 2019 and in terms of the settlement agreement what
26:43
we're able to disclose is in the announcement that we had announced just recently

Just for you Mike, now pipe down with your phony outrage:

https://youtu.be/5iOT8agwzIY?t=1505

ah... that's where you're (and everyone else is) wrong pawn.....
You have to read between the lines, but the collective haircut is 45%, not the individual haircut. All is not what it seems there and it's actually a lot better for us than most realise.

Start here Steve:

http://irservices.netbuilder.com/ir/cadence/newsArticle.php?ST=REM&id=31142821540789137

"As a result of the Settlement Agreement and the JRP approved in August 2019, the total principle amounts owed to the secured and unsecured creditors in classes I to IV of DEV have been reduced from approximately US$231 million to approximately US$103 million or approximately 45% of the original value."

"The Settlement Amount will be paid over two years from the effective date of the Settlement Agreement, and It is to be be satisfied by the net profits from the sale of DEV's iron ore stockpiles. As agreed in the JRP in August 2019 the unsecured creditors will be paid from DEV's free cash flow over a period of nine years."

Wrong thread...

Eye watering potential and tiny capex requirements compared to any new project of this size. Proven product. Wait till the market gets it!
Better formatted version:
https://www.reddit.com/r/CadenceMinerals/comments/teo9dk/comment/i3rds3h/