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That said, at least it was positive.

From their previous target price (that obviously wasn’t reached either)

Always good to see something and this will help cut the usual time delay between PFS / DFS and beyond. I look forward to the translation as the immediate query is the impact and comparative importance of 5.5 v 6% even if it is more environmentally friendly, plus the new process.

Lots has been announce since September when this article was originally posted.
Just not what we are waitin for so far.n

No doubt there will be little traffic pollution in Boticas.
At least they’re all right and would no doubt continue to pick up subsidies to maintain their rural idyll from others less fortunate who don’t live in their backyard.

CM, hi. Interested in how you read it that there was a five year prospecting period before moving forward towards mining. I was reading it that they had to do the work within the five years and would move on to the next stages (EIA etc) as applicable within that five year period. More designed to prevent successful applicants from just sitting on things indefinitely and leaving an area subject to a possibility of development ad infinitum.

Agree regarding the hearing. That date should be slated up and be public knowledge. Can but hope it’s sooner than later.

Will they have a word with the Mayor of Boticas, or will his voters ask themselves what the other mayors see that their’s doesn’t?

Main thing is that it is a LOM average assumption and conservative, not reflecting the current price (although that might help with initial costs and initial pay back period).

Price aside, it’s based on current resource, not the 50m++ that is not currently factored in. It does factor in some sort of deal along the lines of the previous Galp deal with a 10% drop in ownership and some further dilution. Plus of course the risk discount of 20%.

Even with these conservative assumptions and downers, they have lifted their target sp by 50%.

All well and good inspecting the tea leaves but the DIA remains an outstanding item.

From the article posted below, Fernandes says” And, as I mentioned, no tender will be won by those who do not present an industrial project associated with the exploitation of this metal”

SAV are definitely to be involved in the auction process and if the above extract is to be believed then downstream arrangements need to be in place, so these may need to be revealed before March is out..

Think you may find that It was SAV that pulled the Galp deal.
Not many alternative supply sources at present so downstream forced to wait as well whilst this is sorted, as it will be.

CM, think you are spot on there. He has the T-shirt from exploration to production and knows the value added in transition.

Nothing wrong with ambition and 5p to £1 may seem ambitious at first sight but over what timescale.

I always remember a quote from Dali scrawled on my study wall “ At the age of six, I wanted to be a cook. At seven I wanted to be Napoleon. And my ambition has been growing steadily ever since.”

He died about 85. I would hope that if it were to reach £1, we would not need to hang on for another 75 years.

As you say, little point in a refinery without raw material.

Galp and NV were bounced prematurely into making some sort of announcement a few weeks ago regards their plan for refining etc. they also said said it was dependant. I don’t doubt that they would rather have waited just that little bit longer.

Looking at the boards today, it looks like the croupier has called rien ne va plus and we can now watch the little white ball spin round fo the next few days.

The EIA is not going to be given next week, or the week after. People seem to be missing the published stages of the process and this confusion is best ‘un-confused’ at this point rather than surprise / disappointment when the EIA does not turn up as hoped.

It is the DIA that we are currently waiting for. This comes before the implementation phase lasting another few weeks when the nuts and bolts are confirmed, using any requirements in the Dia, prior to the EIA being issued.

That doesn’t mean that all those other things can’t progress as in many ways it is the DIA that is the important milestone, as it is basically the in principle decision, but it is not the final EIA.

The EU must be getting progressively worried in their support of self determination.
Jadar…gone, if not permanently the certainly for some time delaying any supply potential.
Vulcan…under a short attack, new technology to be proved and before any public consultation.
Infinity….still excluded and remains an uphill proposition.
Leaving…
3 others that also have their issues.

Not sure the European OEM need to put any pressure on the politicians as am pretty sure they, the EU, get the problem but might find it difficult to instruct the preferred outcome, they just need to facilitate, which they have tried to. It is perhaps understandable that the OEMs are wanting some certainty before committing but in the event that that certainty is forthcoming, I could see some fiery interest to secure some local supplies. Sunday and the result becomes important.

I think I shall go and get a job lot of pasteis de nata and go and eat them in a quiet darkened room, all by myself. 30 plus one for good luck should be enough.

Not sure that the ‘far right’ is the correct descriptor of the main opposition party but in the unlikely event that they did manage to cobble together a coalition or are forced to be a minority government, it would surprise me enormously that a pro business, capitalist party would be against such a tax raising, new industry forming opportunity. It would also require a complete volte face of the likely winners, the current government.

Roll on The exit polls and Monday.

Unless your squished completely, there will be many across the markets dusting themselves down and starting all over again after todays knockabout.

It will be interesting to see the scale of this weekend’s protests against.
Can’t see any APA decision coming post protest pre election. Bunker down, at least the elections are only next weekend so at least we are getting to the end of this, one way or another

Just moving the ownership from a company that he owned into his personal name. Absolutely no effect on SAV but simply personal tax planning.