Member Info for Inbrackets

You may well be right. We can all speculate but one thing is certain, you won’t get anything to confirm it from the company in advance and the reaction to Valencia’s early talk, has hopefully hit its mark to encourager les autres. It would certainly be a good outcome but we shall need to wait and see.

The old line is that nothing is agreed until everything is agreed means that the SAV board can keep the plates spinning and ‘under review or in discussion for a long time with no requirement to advise the market. They are under no obligation to inform, and I am relaxed about that. Certainly don’t want to see them ‘do a Valencia’ and speak too early on any potential tie ups.

Https://twitter.com/wholemarsblog/status/1675098574957465600?s=61&t=AJxxcVs_tbxqv1S84UYMow

Maybe it is in jest but at the same time,….. both France and Italy have made well publicised plays for Teslas attention, with Spain losing out for looking to pre-empt and bounce a potential announcement.

Would Portugal really be such a rank outsider?

Https://www.npr.org/2023/07/01/1184867278/sweden-northvolt-electric-car-lithium-battery

In case it’s too long to read, a quote from the end of the piece. Let’s see where this takes us.

“That's a lot of expansion, especially as Europe depends heavily on China for the critical raw minerals — such as lithium and cobalt — that are used in the batteries. Carlsson says Northvolt is trying to create new sustainable supply chains to break China's grip.

"Such as, for example, Canada, also in Australia," he says. "And we are actually building a supply chain in Portugal together ... with a joint venture for lithium."

The use of language……DF is described as ‘ignoring’ the question regards Aurora and yet it does perhaps show the ignorance of the reporter that DF simply couldn’t answer the question without breaking other laws. It creates a general pong of secrecy and unhelpfulness when in fact it just reflects the legal constraints that he has to comply with, just as the constraints the company will comply with when any final commitments are agreed.

The pictures alone tell the story line.

Now

Las vegas

Armed with the DIA and positive numbers in the Scoping Study, SAVs attendance at the conference will give them an immediate opportunity to spread the good news.

84 mins of a trading day is hardly the medium term. Fear not

Last years target to get the DIA done,

This years target to get a better share price - plenty of scope.

RNS points to a factor of 10.

This is based on current scoping study’s conservative numbers.

Before further drilling. Before any existing or Gov tenders. Before any JV / funding details and further de risks.

Worth £10 each way of anybody’s money

I am still surprised that there would seem to have been precious little comment on the DIA awarded two weeks ago, being a significant move forward in the development of a lithium supply chain in Europe. I noted comment about UvdLeyen ‘doing deals’ with Argentina yesterday (although much like Australia, still outstanding issues such as agriculture to be finalised) and yet, no comment from the EU on Portuguese development.

No word from industry commentators - not even Benchmark that I have seen,

Precious little in the press, some circulated copy only.

Maybe we shall see a little more now that the scoping study is out. We had the SPA broker note yesterday. Will RBC Cap also be putting pen to paper for their blue blooded clientele?

Personally I am glad to see the positive DIA, I was glad to see a very solid revised SS with substantial upward potential from the exploration of existing tenements and the likely tenders. I am also glad to see the interest in the project from potential partners etc. these positives continue to warrant and justify space in the bottom drawer whatever the daily sp does.

Spike or skewer?

SP Angel have issued a revised buy note with a valuation up from 17p to 22p, based on the SS.

Positive note, allowing for all the additional costs loaded onto the project and the conservative assumptions. They regarded the SS as a robust, worked up document.

Has anyone ever seen a broker note price estimate ever achieved, me neither, but it does perhaps indicate that it should be north of where it is.

As confirmed by DF in the new video, they have identified the $40mn for infrastructure for the community. Ideal bundle to be passed over for EU funding from the fund they set up.

The SS was based on the measured and indicated resource ie approx 18.5m and didn’t include the inferred or exploration target (approx another 30m). We should note that previously the transition from exploration to inferred and then on to measured and indicated has been a seamless progression as the work is done, and looking at the map, would seem to be infill. If you keep doing the same thing, you keep getting the same result….not an unreasonable assumption n this case.

And as for government tenders or existing tenements, well that’s just extra Yorkshire pudding.

Page 7,.

“National exploration tender and existing tenement applications to significantly expand exploration opportunities “

And that will be beyond the current outlined existing 50m of 100% owned MdB.

See various comments on funding , always a potential issue and even more so if looking to “significantly expand”..

I could easily see Savannahs role as explorer/developer (with experience) with any number of the previously alluded to usual suspects or even anonymous’others’.

CGH, absolutely right to look at this.

Excellent update to the Scoping Study and yet still quite / very conservative which is to be expected.

As you say, numbers based on current resource, exclude the exploration which will recommence shortly with the drilling. And looking forward to the auctions etc

The assumed long term price of say $1500 just about doubles the original 680, but is still only half the floor price in the recent agreement between the Saudi refinery and another European hopeful. The sensitivity analysis on p13 may help in any adjustment going forward.

The area that I was taken with was the offtake / agreement area as this seemed beautifully vague. Yes, they confirmed the obvious, that they have interest from all the usual suspects…’and more’…. Oil Companies? SWFs? And targeting selection in the next 12 months.

That could mean anytime though this will give plenty of time as things progress for a de-risked project to send out the pencil sharpeners to interested parties.

The past couple of weeks feels like the boot has been passed to the other foot.

The CEO said that they were looking to issue a new Scoping Study early in H2. How early is early is anyone’s guess but early July is now.

Meanwhile if by LSE you mean the London Stock Exchange, then yes, it is closed on a Sunday.

If you mean this platform , it would seem to be open 24/7

Https://twitter.com/tslachan/status/1666766715953487872?s=61&t=AJxxcVs_tbxqv1S84UYMow

Just in case VW’s plans don’t pan out I suppose.

Unlike SAVs news last week, the EUR / Saudi news regards their refinery deal has had much comment. In the event that EUR are unable to supply sufficient feedstock (always a possibility) then their floor price of $3000 would be a minimum and their cap of $7000 would not apply.

This may well form part of the decision when deciding on the assumptions to be used in the imminent revised scoping study from SAV. Anything under can be viewed as conservative.