Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
https://www.mining.com/sibanye-stillwater-buys-nickel-copper-mines-in-brazil-for-1-billion/
The transaction represents a unique opportunity for Sibanye-Stillwater to acquire significantly pre-developed and pre-capitalized, low-cost, producing nickel and copper assets,” Froneman said.
The deal, under wraps for months, comes as miners across the globe try securing supplies of the metals used in batteries for electric cars and are key for the transition to a green economy.
Appian, which put the two assets up for sale earlier this year, said the process had been very competitive, triggering a bidding battle that included unnamed large miners as well as two carmakers.
“They were actually bidding, which was fascinating. I think that is a story in itself,” Michael Scherb, founder and chief executive of Appian, told Financial Times. “It shows upstream security of supply is a major concern for industrial players.”
@Sammy58 - “ Also, if we know this is going on, surly the company do, and if they do, is there nothing they (the BoD) can do to counter this kind of manipulation ??”
Yes, they can start by turning a decent profit and announcing some long awaited BE contracts!
Pdub - “ Just because a shareholder is underwater (or has sold out because of a low share price() that is no justification for saying the BoD aren’t doing a good job. That is way too simplistic but a mistake that too many people make.”
This is a long thread, but could you confirm who are directing the above to. I have mentioned PI’s being underwater, but have not made any comments regarding the BoD?
Thanks
It is understandable why many here are frustrated. Apart from a short term rise at the end of 2020, the SP has been in decline for almost three whole years. Essentially anyone who hasn’t traded would be underwater here if they have bought shares in those last three years.
Personally I took some good positives from the recent RNS but the cold reality is, even with V at $35/kg and production at 4,000 mtv, we are not still not profitable and most likely about breakeven. Production appears to be stable now, which is excellent , but only when we see the cost per unit being significantly driven down as volumes increase will we begin to turn a healthy profit.
V prices could move up or down or stay at this level, but to be turning a profit, we have to deliver on the production cost across the two sites.
As an aside, is anyone able to articulate (Covid aside) why it
is taking so long to get a mini grid up and running?
@Lindon - The original agreement announced on 23 October 2019 stated: "The holder will not be able to divest any Bushveld Minerals shares received for six months following conversion and be subject to an orderly market arrangement for the following six months."
However BMN initiated the early repayment deal in December, rather than Duferco opting to convert , with part of the early payment being made in shares of BMN. For this reason it would appear Duferco are not subject to any restrictions.
These lack of restrictions are confirmed by the fact that 2m shares were disposed of on 4th January 2021. These shares had been held for less than two weeks, as they were only acquired on 24 December 2020.
Just to add to this, for some reason I thought there was an orderly market clause in play, but from memory last year this did not apply, based on the deal that was agreed and executed?
Mogwhy - It could be an overhang or equally possible that they hang on to the latest tranche on a longer term basis and allow the SP to rise. There is uncertainty, so TR1s will perhaps reveal their strategy. Personally I would not be surprised if we see another pair of TR1’s after year end showing they have dropped below 3% again.
@mogwhy - so could Duferco now be a seller again of their first tranche of shares, just enough to hold the SP down long enough for them to maximise the next batch of shares heading their way?
Not sure how authentic this is but someone called Dimitry has donated $500 to the TG football charity event. Wind up??
https://twitter.com/jarvy55/status/1449794122349428743?s=21
Gecko - yes very sad individuals, pathetic actually.
I rarely post here these days due to so much nonsense and childish individual attacks on people, but still tend to surf through posts over the weekend when I have some downtime.
Good to see the old familiar names in here remaining positive, and like me holding until the conclusion.
ATB
@Gecko - I see your old “mate” GFD over on Twitter has sold out, now turned to full deramping mode and still chipping away at you personally and practically everyone on LSE.
You literally couldn’t make it up after he was posting non stop here day in day out, jumping on anyone who did not agree with him and how fabulous all things EUA were.
Had my concerns about him a while back. Turns out he is a very bitter and twisted irritant, and complete wrong ‘un after all :-(
Anyway hope all good with you - hopefully JORC results coming up next week or two.
GLA
@Ian….. “ This money EUA now has at its disposal for the Joint Venture COULD be used to buy out Rosgeos 25%, to enable EUA to have 100%, of the new NINE more mines in the J/V.”
Not in my opinion the 25% is where Rosgeo will make their money and we won’t be getting it all now.