Member Info for Inbrackets

OTH, I love the word blather, it’s so wonderfully descriptive and onomatopoeic, so rightfully used for the waffle often spouted by this fellow sufferer. That said, I am concerned for your additional burden as a CFO but understand that this generally is a temporary affliction that resolves itself at retirement.

Having bought a while ago, am delighted to finally get a diagnosis that I have no brain. I had presumed that something was wrong but couldn’t work it out.

Not necessarily affecting old licences and
“ Jornal de Notícias reports that the government will proceed with a strategic environmental assessment before opening a tender for mining and lithium exploration in Portugal.”
So might be relevant for the upcoming auction areas but not MdBs current process.

As you say, WJ Towell group in Oman, not Greater or even Lesser Manchester. Towells are one of the major industrial / trading groups in Oman.

CM, hi. A pedantic premature correction, once the deal is done with Galp post DD and confirmation, we shall own 90% and Galp the other 10% in the MdB project that they have bought for their 6m. Never knowingly oversold.

Hi. They have just released an updated presentation following a recent placing (@4p hence drop).

They have existing mining licence, have had their EIA accepted and are currently going through public consultation, have strong Gov and EU support, ESG minded, cashed up now, off take with Galp (2nd largest co in Portugal), discussions for further licences at upcoming auctions, publicly stated talk of agreements between Galp / Northvolt and SAV, ambitions there to be done.

Also a JV with Rio Tinto for massive Heavy metals sands in Mozambique, all fully licensed. Currently under discussions to unlock way forward and value. Possible split to make SAV a pure lithium play, this review due sooner than later.

Hope of help. Plenty to read.

If the new monitoring system is as innovative as it would appear to be, presumably that would imply that there is no real existing major consultancies that have been banging this drum so far. This guy would seem to have past experiences that have prompted him to see the gap in the market he could bridge (not forgetting the Portuguese connections) with a first kind of kite mark.

Benchmark Minerals started as one man and an idea.

Courtesy of a SAV holder who does a lot of the deep research for which we should be grateful.

https://www.presidencia.pt/atualidade/toda-a-atualidade/2021/05/presidente-da-republica-promulga-dois-diplomas-do-governo/

Issued May 1st, so another hurdle now crossed. This time next month, public consultation will be over and we shall be in the final phase of what I personally believe to be the keystone period in this whole process. The application has been exceptionally well prepared and confirms the intent but in hindsight, the future hurdles will seem like little blips in comparison.

My reading of the article isn’t that the scientist is saying that MdB is a petalite deposit. My understanding is that Portugal has both petalite and spodumene. Unlike Australia these deposits are not concentrated in one site but spread across Northern Portugal / Galicia.

Bearing in mind the professionalism of the EIA submission referred to in the piece, I am pretty sure that you can be certain after all the testing etc, that SAV know the difference between petalite and spodumene, and understood the implications of the difference before progressing with MdB. I have no doubt that this will be true of the targets they have identified in the future auctions and expansions they have hinted at.

it’s going to be 11.57 twice today. Doesn’t take too much foresight to predict a placing is going to happen, just the exact timing. General comment.

Good to see the wheels moving quite quickly now that the conformity notice has been issued and the clock has finally started to tick.

Elsewhere, there has been a few comments regards the depth of the application and its purpose. I am not of the view that this has been to butter up APA, Gov and EU, specifically as they would be required guardians to satisfy. I think they really did want to produce a statement report that could be used as a blueprint, elevating their standing as the preferred partner in future development, and hopefully that will be seen in the coming months.

Historically, DAs previous incarnations in Oz have managed to get through the licensing processes by emphasising the positive. I think he has been very aware for many years of the need for the mining industry to present itself well, and MdB, plus the potential to develop a truly national industry is a vision and project from heaven.

I may be talking complete tripe, but when a project takes at least say 10yrs from scratch, there are not too many available that could have such a lasting impact.

With some bigger trades, sells buys or swaps, the indigestion of the placing will hopefully settle down quite quickly and properly cashed up, we can look forward to the sp reflecting positive news.

All trades are, are they not. One side gets rid. The other acquires. Just a case of agreeing a price even if this seen as at par.

I think EMH went up because it was being linked as a possible supplier to Tesla, promoted as if it were a secret source that no one knew about amongst Teslarati in the US that had just seen PLL skyrocket on the back of Battery Day link up.

https://twitter.com/proactive_UK/status/1384797067034378243

He did not say that shareholders wouldn’t be tapped up, he said that he hoped hot have to .......

We shall know who has been tapped up, albeit @ 20% discount, early tomorrow morning and as they already had these lined up, maybe we should wait to see how that land lies. If anything was to be believed, then there has been strong interest in the project, and the announcement from APA Might have been the confirmation that was wanted. At the start of the year many would have been happy with a x2 by April.

Hopefully we shall get to see who has come on board, maintained or increased their holding and with the accelerated bookbuild, the decision as to who comes on to the register is at the discretion of the company so they may well be looking back over the history to weed out undesirables, especially if well subscribed. Yes a discount to recent levels (but those levels are never guaranteed unless you sell) but we are now in funds. It would certainly seem fair that we should be better capitalised when moving to the next stage rather than copper in up and reliant on the monthly funds coming from Galp, and by the sounds of it, can help fund the changes to the structure in Moz that looks to be on the cards.

Yes an irritant but is it not part of investing?

Could have got in a year ago and enjoyed x3+ growth with a free ride ahead but has preferred to carry the board proclaiming the inevitability of the End is Nigh. Always good to see alternative viewpoints but inclined to stick with my own, at least for the time being.

Fairly muted response to yesterday’s RNS but the coming weeks will hopefully see lightbulbs switching on as the importance of the Notice of Conformity is better understood. The vast body of work to underpin the decision and agreement from APA now puts the whole project on a timed pathway, a conveyor belt to approval. Yes, there is the public consultation but the work done to assuage difficulties and deal with known issues will be quite hard to dislodge the project when there is strong Government support and national economic need.

At the same time, without wanting to gloat, but what a good time for Portugal to launch its bid to establish its battery (and Ev) industry from raw materials, refining, processing and production (SAV, Galp, Northvolt and beyond) when Infinity has been pulled over with an enforced pitstop, and other EU hopefuls are still some way off for a variety of reasons.

The public consultations should help publicise the project favourably and I suspect that in the future, yesterday’s RNS will be a key moment. It is also good in that the company will finally start to recover control of its own affairs and diary within any agreed parameters.

Roll on the consultations, the Galp DD, the news on Moz and the upcoming auctions. Lightbulbs.... More like floodlights.

OTH.....Clementines?.....

EUs Covid recovery fund has not yet been passed and is currently held up in German courts. Spain has said they are going to crack on, presumably on the basis that they believe a work round will deliver as it always has previously. Historical odds stack in their favour. Portuguese Gov gives lots of encouraging verbal support but so far has not seemed to confirm their conviction with firm positive action. That really needs to change.

I had understood that the company had replied comprehensively to APAs request for additional info a few weeks ago now and that the ball is in their court. Is it now subject to political dithering? SAV maybe an important piece in the jigsaw but it certainly isn’t in charge of its diary.