Member Info for Inbrackets

The founding fathers are the industry heavyweights.
SAV amongst the first three to join as associate members.
Once again confirms they are looking to do things right, right from the start (when’re that might be).

Running out of reasons for RNS before we get to the meat of the matter, be it Portugal and/or Moz.

There often seems to be faux outrage when options or warrants are issued with claims of lifestyle gravy trains sprayed about, also when LTIPs are launched.

We don’t know the structure of their package - salary, bonus, options etc- so much like in the early days when some professional fees were paid with shares, it might be that a relatively (hopefully) low hurdle price for some of their total package i# a choice (and therefore at their risk as let’s not forget that previous incentive packages have not exactly been rewarding for recipients).

One area that rarely seems to be detailed, and hasn’t here, is that many agreements are written up so that they vest immediately in the event of a takeover or similar, thus avoiding any time period.

Bottom line though is that fleshing out these roles at this time would seem to indicate that there is a need. If both parties contribute towards a much greater value, I will certainly not complain.

Understand that DA is back in Portugal. Good to hear that he will presumably be available in the run up to any APA decision and is doing some local interviews etc. I am hoping he is also readying the post decision landscape.

Good to hear that SAV is being mentioned. No doubt that APA will also be considering any implications on the water front and no doubt it will be taken into account, weighing in to any final decision.

Working back from the 100 Day APA deadline, one might have thought that much of the reading, deliberation and discussion is likely to have been completed by the reporting board, even to the point that initial drafts have been drawn up, maybe leaving a couple of TBA paragraphs. I would be quite surprised (but am prepared) if matters were to be delayed with calls for further information.

Yesterday’s RNS admitting SAV to BCSD would seem to recognise the future position as SAV transitions from the virtual into real world. I would have thought that much comfort should be taken that from outset, SAV are set to implement best practice across all their project (and by that I take not just MdB / Mutamba but also any additional areas from the future auctions / Spain). At outset. No legacy issues. No retrofitting or need to squeeze out old established bad practice. Open. Nothing to hide and ever willing to learn from around the world and the Portuguese BCSD.

Methinks that the 100 days is up 2 weeks today. APA may well be coming towards its conclusions and what to put in those TBA paragraphs. I would be interested to know what else they feel SAV could do and remain more than hopeful that APA will come to the right decision.

Sav have already declared their intention to be involved in the auctions and indeed for some areas in Spain. They have identified specific targets so it will certainly be a case of watch this space.

As for others, who knows though Fortescue have already got some areas that they are looking at so they may look at the auctions. Got the feeling that they perhaps wanted a friendlier mining backdrop a couple of years back so maybe their interest is being pricked again.

Sav has said that they should be well placed to be awarded additional areas - the main criteria is not just the highest bid.

Posted elsewhere by Saloccin, a man with an eye for very relevant info.

This confirms that following elections on Sunday, Portuguese gov are finally starting to implement the plans that were set up previously following a fresh mandate.

“Through Dispatch No. 1522/2021, of 11-02-2020 of the Assistant Secretary of State for Energy, bearing in mind the intention of launching a public tender procedure for the allocation of prospecting and research rights for lithium, which has already been announced by the Government, and having already entered into force Decree-Law No. 30/2021, of 7 May, which regulates Law No. 54/2015, of 22 June, with regard to the disclosure and use of mineral deposits , it was decided to carry out an environmental assessment, pursuant to Decree-Law No. 232/2007, of June 15, in its current wording, covering the eight areas that, potentially, may be part of the public tender procedure for indicting the relevant presence of the resource. In this context, the Preliminary Environmental Assessment Report produced is publicly consulted.”

It will be interesting to see how much of the SAV EIA presentation is used as a template as the 10th Nov is only 6 weeks away and it would imply that much work has already been done if they are to cover eight sites.

Link below not for lithium but hydrogen
https://twitter.com/ambiente_pt/status/1442861536720998406?s=21
Start of their announcements.

10/11 weeks for EIA phase 1, Moz and Commercial Agreements (as detailed in Interims) all fits in with Nov 10.

How does milk boil?

Bit of an unnecessary headline drop today that some have obviously taken advantage of with some nice sized chunks being bitten over the course of the day.

Heaven sent bonus today being able to average down as chunks are bought in and slotted in to an overall Tetris block.

With the benefit of this morning’s hindsight, the response was lifted almost verbatim from the interim report .

As has been the case for quite sometime, the decision from APA on Phase 1 due over the coming weeks remains key and that is out of SAVs control - they just confirm that they would respond as quickly as possible should further info be wanted. They do say that the whole process still needs to be completed but make the distinction that Phase 2 is more about implementation but that would obviously feed into the DFS, hence it pushing into 2022. All pretty understandable.

I am glad to see that the plans are still rolling on in preparation for a positive outcome from APA though the tone remains that they are not assuming the result a given. That also seems reasonable.

Also glad to see that they are on track for the review of Mutamba pre year end. This would continue to tie in with some restructuring post Phase 1 APA review, to allow for a separate Li vehicle (other parties?) and a separate HMS Moz project.

Makes for an interesting Q4 and I believe a misguided reaction this morning, though I am sure some will make hay

Need to break 4 first.

Much rests on APAs decision over the coming weeks then.
Will the downstream commit until they are certain of an upstream to be downstream of?
If SAV is rejected, what Hope would/should Lusorecoursos V2 have and as for the auctions, more years wasted at this important initial transitioning period.

Backdrop couldn’t really be better in the Li world. Would be good to hear any Moz outcome.

OTH, well, well, well, thanks for asking.
And prospects get better, better, better.

Politicians seem to be developing a manic streak of climatology with the need for international action and agreement in the run up to COP26 (Ed Milliband Newsnight yesterday). The pressure for all countries to do their bit for the benefit of all, around the time that APA are set to deliver their view on the application, plus a good chance that the Gov will use the chance to launch the auctions, can’t be a bad prognosis.

No pessimistic hypochondriac here and Osaka passed his medical I am glad to say.

Lest we forget:

https://www.globallithium.net/podcast

Episode 112 features a layman’s recent view on SAV and it’s attractions as an investment opportunity - 6 or so weeks old but still relevant.

https://www.thisismoney.co.uk/money/investing/article-9985639/SMALL-CAP-SHARE-IDEAS-Renaissance-British-mining-driven-lithium.html

Something that might help stir things up a bit.
This was issued post close today so it might cause a bit of interest tomorrow.

Rush? I thought we only did Glacial - Omani or Mozambican.

About 40 days, not working days, just days until APA reach the obliged deadline, but it could come earlier. Whichever way, it will certainly be a key moment which will be reflected in the sp.

The stated multi bag carrot may turn some on and some off but it’s the underpinning logic behind the viewpoint that deserves attention.
“ carmakers will soon be chasing lithium supply and that ‘home grown’ battery-manufacturing capacity will become a hot-button issue for European Governments. I also predict that European OEMs will increasingly seek to reduce their supply chain emissions by sourcing their lithium locally. ”
“ More aligned with my ‘local lithium supply for Europe’ thesis is AIM-listed Savannah Resources.”

These threads are certainly underway, and no account is taken of possible further expansion with auctions and future Spanish assets. Still early days so the conclusion can’t be completely discounted,

Floods in Catalan and Toledo featured on the news this morning. Just over the border examples of the need to do something towards climate change must stiffen the lead in Portuguese Gov pencil.

https://twitter.com/cpbmi/status/1432517767702347778?s=21

If EU wanting to source 80% internally by 2025, they had better get a move on.

https://www.dinheirovivo.pt/empresas/david-archer-portugal-pode-estar-na-linha-da-frente-da-producao-de-litio-para-a-europa-14068509.html

Couple this with comments from DA in this article, about US interest and pan European groupings to help further Portuguese car production etc, along with his previous commitments to take part in auctions, the pathway to expanding overall production is there to be grasped.
I do wonder if Portuguese gov will confirm around the Glasgow summit. It would seem to be a likely platform.

In Finland? Probably.
By SAV, I think not.

Q4 is only 5 weeks away, but that would only be day one of 92. Hopefully they won’t use all of them.

Summer months are always a grind.

Ask and ye shshall receive.