Member Info for IvRoche

For the last time Bloggs you thicko

The offtake price for Kodal’s spodumene is linked to the SMM 6% CIF China benchmark, not the “African SC6” number you are quoting.

SMM 6% CIF China (around US $870/t) is the official contract reference - this is what Hainan’s 4-year offtake uses.

African SC6 (~US $778/t) is just an average of past African cargoes already landed in China - mostly lower grade (5.3–5.8 %) and older shipments. It trails the benchmark by a month or two and includes discounts for freight and impurities.

So in practice, Bougouni pricing works like this based on your nunbers:

1️⃣ Start with the SMM SC6 CIF China monthly average.

2️⃣ Adjust for actual concentrate grade (e.g. 5.5 % = 5.5/6 × 870 ≈ US $798/t).

3️⃣ Subtract freight/port costs (~US $40–60/t) to get the mine’s realised FOB price (~US $740–760/t).

That’s the number that goes into LMLB’s books and will underpin the Malian floor-price framework kicking in from 1 Jan 2026.

The new Pelican SEC filing on Jameson is a proper step-up from March GL’s June deck — a few points worth noting for anyone following 80M:

Valuation: Pelican puts March GL’s 70 % stake at ~US $215 m, implying 80M’s 30 % is worth around US $90 m. First time we’ve had a hard market valuation.

Funding: The SPAC/PIPE combo means they’re funded to drill. No more “subject to financing” caveats.

Government approval: Greenland has formally cleared the sealift and mobilisation of heavy kit — bulldozers, gensets, housing, etc. June only said “in progress.”

Contractors locked: Halliburton, IPT Well Solutions, and Stampede Drilling are now signed, not just “mobilising.”

Logistics: Shipping contract in place for a 3 500 m-capable rig, with multiple ice-class Desgagnés vessels in the mix.

Resource upgrade:

OPW-1 → 2.4 bn bbls (up from 1.9 b)

OPW-2 → 1.9 bn bbls (up from 1.4 b)

Basin total ≈ 48 bn BOE (vs 40 b)

Roughly a 20 % uplift across the play.

Timing tweak: Drill window now listed as Summer 2026, not Q4 2025 — a more realistic call given Arctic ice windows.

Operator stance: The SEC doc says March GL intends to stay operator rather than farm out, which shows clear confidence in the asset and their technical team.

Bigger picture: Between the valuation, permits, partners, and timing shift, this reads like a team that knows the geology is strong and wants to keep control rather than hand it off after drilling

Greatland’s Feasibility work is assessing an increase in mining rate from about 2.8 Mtpa to roughly 4.0–4.5 Mtpa once the underground crusher and materials-handling system are in place.

Current resource base (April 2025):

Indicated: ~9.9 Mt @ 4.1 g/t AuEq

Inferred: ~20.5 Mt @ 3.1 g/t AuEq

Total: ~30 Mt @ 3.5–4.0 g/t AuEq

At the original 2.8 Mtpa plan, that equates to about 10–11 years of mine life. At 4.2 Mtpa, the same inventory would last roughly 7 years.

However, drill program is under way to extend the orebody both laterally and at depth. If that adds even 40–50 % more tonnes, mine life remains close to 10 years even at the higher throughput rate.

Will need more Ore to feed the beast from 2030+, all that drilling and discovery can easily fill it back to 500koz per year (fingers crossed)

From the Aussie Release, hmm not sure why the didn't include the assays in the UK release for West Dome UG.

West Dome Underground

​4,862m of resource growth drilled across nine holes from the highly anticipated second phase of the West Dome Underground drilling campaign, with two rigs allocated for the remainder of FY26.

​Results from the first two holes were returned during the September 2025 quarter, with a new high-grade zone identified on the Eastern Limb returning the following promising results:

​35m @ 2.9g/t Au & 0.19% Cu from 234m (WUC4550099)

​30m @ 5.6g/t Au & 0.25% Cu from 281m (WUC4550099)

​26m @ 2.7g/t Au & 0.30% Cu from 302m (WUC4550111)

The green box is around, let me guess probably having a go at anyone that doesn't share it's view, drilling delay, cap raise / funding... I am not sure that thing will ever realise how irrelevant they actually are.

Surely, an RNS is being worked on re: Jameson by 80m re: Slippage on timelines, question is will there be two RNSs (Disko or GS)

Humble pie for some (which I don't take pleasure in)... MGL/80M missed the window and now Jameson will be drilled summer of 2026.

Hopefully, there is news on the horizon for GS or Disko to soften the blow from the above.

TRUST BUT VERIFY!

Price: $854.00

1 day: $+3.00 (0.35%) 📈

YTD: +4.66%

I like the optimism Bob, but this is the hope phase and I hope we "missed the boat" versus the alternative - we should know soon enough 👍🏻

Miena Desgagnes is underway, and it's not heading to Ittoqqortoormiit, it's heading to Valleyfield, near Montreal. Nordika is in Bakers and ain't moving - probably done for the season.

Also, barring a last-minute charter, the sealift season to Pangnirtung looks closed for this year.

In addition, based on publicly available info (not perfect) no vessels are due in Ittoqqortoormiit /Scorsbysund for the rest of the season.

I don't see how they have transported the equipment needed to drill Jameson unless anyone else has an idea?

The simple answer is no it is not - Because sodium-ion can’t match solid-state lithium’s energy density, cycle life, or scalability for high-performance EVs - it’s a low-cost stopgap, not a lithium killer. The next big thing will be SSBs and they use 20-40% more lithium than current battery tech... See below.

Lithium Solid-State Batteries (SSBs) – the Next Big Step After Li-Ion

Everyone’s hyped about solid-state for a reason. Instead of using a flammable liquid electrolyte like today’s lithium-ion batteries, these swap it for a solid ceramic or polymer layer. That change makes a huge difference:

✅ 2× the energy density → longer EV range (think 800–1,000 km)

✅ Way safer → no liquid = no fire risk

✅ Faster charging → 10–15 min possibilities

✅ Longer life → fewer replacements

But… it’s not plug-and-play yet: making solid electrolytes at scale is hard, the materials are brittle, and costs are still 2–4× higher than regular Li-ion. Most analysts see real commercial rollout 2027-2030, starting with premium EVs.

Lithium use ⚖️

Solid-state cells typically use ~20–40 % more lithium than today’s graphite-anode Li-ion packs because: they often use a pure lithium-metal anode instead of graphite; and higher energy density per cell means more active lithium per kWh.

So for lithium producers, solid-state is bullish, not bearish. Less graphite, more lithium metal.

How about you come clean about attending the agm? You have avoided that question for weeks.

@Bob, as of 21mins ago AIS satellite ping- Nordika is still in Baker, could leave this eve and make it as Miena still needs to offload.

The websites are hit and miss re: information provided - have been through a lot of them. Best is an App called ShipAtlas - gives youbthe latest info.

P. S. Bob and myself have already posted where it's going - but of a head scratcher that it wouldn't head straight for Jameson considering the time of year.

I can't wait for our resident 🤡s to appear and defend the latest lie where he stated yesterday nothing was happening at the Bougouni mine site... (post below for posterity)

Silverfoxchef

Posts: 1,028

Price: 0.285

No Opinion

RE: Shipping end of month16 Oct 2025 15:11

Noticed on satellite images nothing happening on site.

Mothballed springs to mind

Exec

@Bob, Miena is probably a day out from Panirtung and the Nordika has been anchored in Bakers for 190hrs - two day sail to get to Panirtung.

Hopefully, Miena is just picking up some supplies ahead of final leg to Jameson.

Read the threads below chief...

Shipping & Mobilisation Timeline (per March GL presentation) - Let's see what happens next...

Vessel: M/V Nordika Desgagnes (well not anymore)

Departure: 21 September 2025 — explicitly stated:

“On September 21st, the ship will sail for Jamison Basin with all drilling equipment.”

Mobilisation Window: Q2 2025 (initial operations start-up and logistics)

Drilling Start: Q4 2025 (first well spud date)

Project Partners: IPT, Stampede Drilling, and Halliburton leading mobilisation and drilling.

----

The Miena is part of the same Desgagnés project-logistics fleet used for Arctic energy and mining operations (ice-class, Canadian registry, recurrent Greenland routes).

Her anchorage off Moriusaq in early October aligns almost perfectly with the window following Nordika’s planned departure (21 Sept) — suggesting either:

a support or relay voyage, moving equipment or fuel staged at Dundas/Moriusaq, or

a substitution, if Nordika’s schedule shifted and Miena took on the mobilisation leg.

Either way, it strongly corroborates that project cargo has indeed been mobilised toward East Greenland.

Yep, my thoughts exactly Bob, pretty odd esp the timing of that ship being there plus two tug boats etc.

Although in other more positive news: Cop 30 - Brazil is to ask countries to vastly increase use of Biofuels

https://www.theguardian.com/environment/2025/oct/16/brazil-ask-countries-quadruple-biofuel-use-leak-suggests