Member Info for Inbrackets

When the EC reconvened in Dec 2024, UvdL outlined a timetable for the first 100 days that included the progression of the CRMA and any strategic projects. Only a week or so ago, she reiterated this again. On the original timetable this would be due in mid March, so in under 2 weeks.

Not saying that it is anything but a happy coincidence, but Benchmark are holding their conference in Brussels that week, so might be a convenient platform.

Just this morning, it was confirmed by EMH that the Czech government had deemed it as of Strategic importance presumably in the hope that the EC does the same (not that it alters the underlying fundamentals of that particular project - personally not a fan).

I am sure the EU and its leaders are fully aware of the MdB project already.

In one of the recent Portuguese interviews, EP said that here were about 4000 shareholders in total. Main notified shareholders excluded, 3990 remains a very small number across the world.

I would suspect that many have holdings across their ISA and Pension wrappers and direct holdings, further reducing the numbers of individuals. As you say, there may well be a number who are keeping under the 3% and public eye, so would agree that things could tighten quite rapidly should or when circumstances change.

What or when, who knows, but as mentioned earlier, milk boils.

Not sure where you are getting your numbers from but rather than look at the holdings of the largest shareholders, I would suggest that the 40% relates to shares that have a degree of restriction on them as they are owned by people / bodies regarded as inside - members of the board / senior employees etc.

The two local companies may have substantial holdings but have no roles within the company and are free to sell at any stage only requiring to disclose their total holding as and when they trigger %. their shares would still be considered as being in the public domain even if in very sticky (currently) hands.

That’s where logic would take me, though Spock was not infallible.

For ‘our dud’ read ‘out dud’

Ten gallon hat tip to Sal, resident spy in the sky taking the trouble to research widely, has pointed towards what is happening in Galicia.

Spanish gov have apparently cleared our dud licences and are looking to put land up for tender with 10 or so options within 100km of MdB.

Nothing to stop SAV looking over the border but more importantly, will it prod the Portuguese Gov to get a wiggle on and get their auctions going.

As an aside, Portugal and Galicia are the Western edge of European mainland which currently is a bonus.

Ten gallon hat tip to Sal, resident spy in the sky taking the trouble to research widely, has pointed towards what is happening in Galicia.

Spanish gov have apparently cleared our dud licences and are looking to put land up for tender with 10 or so options within 100km of MdB.

Nothing to stop SAV looking over the border but more importantly, will it prod the Portuguese Gov to get a wiggle on and get their auctions going.

As an aside, Portugal and Galicia are the Western edge of European mainland which currently is a bonus.

Https://www.theportugalnews.com/news/2025-02-21/2-billion-lithium-battery-factory-for-portugal/95769

The Reuters article misses the point that the CALB is a Project of National Interest according to the above article. So the battery maker gets a Project of National Interest status and yet, as yet, vital local supply of the vital raw materials does not.

Is that set to change? Just two weeks for a Reasoned Resolution from the State (during a Gov reshuffle I understand) shows support. Just three weeks and SAV might get the Strategic Project status from the EC

Meanwhile CALB are using about half of the site. Wonder what the other half might be used for.

Should they expand, might they need further supplies? We know that AMG are looking at refinery options and the Gov keep hinting at the auctions.

This is like watching milk coming to the boil and the heat is starting to turn up

At the start of February SAV featured in the Midas column, something that hadn’t happened for quite a while even though its fortunes and prospects should be considered.

https://www.thisismoney.co.uk/money/investing/article-14349323/MIDAS-SHARE-TIPS-UPDATE-Savannah-prove-worth.html

Any possible upside was virtually immediately torpedoed by a legal manoeuvre that required a halt to the current drilling campaign, perhaps an unwelcome reminder of the difficulties faced in the overall permitting process.

Expectations of a protracted legal delay with timelines for the DFS, EIA, FID, being missed and stretched well into the future punctured any immediate build up of interest. Today’s RNS should go more than a long way to confirm the underlying status of the project and the two week enforced stoppage on the physical mining has not stopped works on the strands and will be quickly made up (they may have maintained and serviced the equipment ready for the restart).

Makes the Midas article even more relevant

As outlined in the Observador article, the guidance of an imminent return to drilling has proved good. Welcome news.

As also stated, they have worked out any likely moves and we can but hope that anything else becomes progressively at the edge and less relevant.

Roll on mid March

And what was the price of spodumene / lithium at that stage? Sure, still in the ground and couldn’t be mined, but might have had an impact on future hopes and before further dilution and capital raising to get nearer to production. Just figuring.

Https://observador.pt/especiais/dez-anos-para-produzir-litio-nao-e-um-bom-exemplo-gestor-da-mina-do-barroso-diz-que-retoma-de-trabalhos-depende-do-estado/

Worth a read, or as much as you can access and translate.

Sounds as if they are expecting the precautionary halt in the drilling may come to an end sooner than later and they are preparing to be a little more vocal in contesting previously uncontested assertions.

Meanwhile holdings RNS confirms local shareholder continues to build towards their target stake.

The wind might get back into the sails sooner than imagined.

Https://x.com/sdmoores/status/1891857214111089140?s=61&t=AJxxcVs_tbxqv1S84UYMow

Benchmark reporting an article saying that China is stopping the export of equipment used in DLE. The need for secure raw material supplies tightens and the case for European hardrock supplies hardens.

This will no doubt be discussed at the Benchmark Euro gathering in mid March, which is just about the same time as the EC declares any Strategic Project status. Some might be worried. Others might see a happy coincidence.

That would be good, but if it is next week,the week after or over a few months, your positive thoughts will come good, I’m sure.

After many months, in early January, SAV eventually started the process that they had outlined and fully described in order to secure the necessary rights for the project, with letters being sent out to all concerned. This gave them 30 days to reply.

In planning, the SAV board and advisers will have played out likely responses and the options and responses they would need to make. Chess but in another dimension. The initial comments from SAV saying that it was expected would probably have been applicable whatever had been said / will be said as they will have war gamed this one through to all ends.

From the last time the same group queried not Savannah directly, but the process, it took 4-5 months (including Christmas) for it be chucked out. This time they complied immediately but we should note that ‘Savannah has been using to progress work for the last two months, with no significant obstacle…….ensuring that all working areas and equipment are secure and made safe. Savannah is free to continue with fieldwork on land that it owns or has alternative rights to access.’’

They will hopefully managed a reasonable amount over the past 2 months and can still access much of the required area in the meantime so that they can continue to work towards the DFA and advancement of the project. Background irritant, not an existential threat.

2 big deals to close off the day .

Obviously interest somewhere.

The Two Ronnies did a Mastermind sketch answering the previous question.

Looking at another 2.5m trade from yesterday brought this to mind.

All good in general. Absolutely the key comment in the presentation the significance perhaps easily missed and no mention of the State auctions that are to come enhancing yet further.

Is today’s reaction to Trump’s duties masking the reaction?

Https://www.thisismoney.co.uk/money/investing/article-14349323/MIDAS-SHARE-TIPS-UPDATE-Savannah-prove-worth.html

Nice to see

Are people still weighing it up?