Member Info for jimb2

I like looking back!

Uncanny how accurate things are turning out given a three year or so delay - and the jewel in the crown Sonora is indeed a jewel in the crown - Mexican gov had it valued at $600bn - no wonder they are trying to steal it - I also don't believe it will be a long process to get a result with the litigation - Mexico is losing out,

$82,000/t and we were talking a 5p party at $6,000/t

Indeed, his absence hasn't gone unnoticed, I was hoping he just grew tired of posting but was expecting a return by now.

I'm not sure people digging up past opinions and projections have a valid argument considering Covid, AMLO, shipping crisis, the chip crisis and the Ukraine war all have contributed to where we stand today:

Not forgetting lithium hit $82,000/t - good though that EV and ICE price parity is here and battery tech is adding to the compelling reasons lithium will take off again - IMHO at an accelerated pace - @Observer842 made a real positive contribution with his research.

If you are looking in @Observer842, I wish you well.

So, next week we will possibly know if the dodgy mining laws are overturned leaving the only hurdle as the investment claims'

I do recall while the laws were under review Ganfeng put investment on hold - that's easily defended I would imagine and as mentioned Peter Secker stated investment was exceeded:

https://www.reuters.com/markets/commodities/chinas-ganfeng-indefinitely-postpones-mexican-lithium-target-date-amid-govt-spat-2023-11-09/

"We have exceeded the minimum spend required," Secker said, adding the company will use all legal resources available to challenge the move and avoid a cancellation.

I'll say it again, this could be a way out of a sticky situation for Morena if they concede that the Supreme court are responsible, looking back over the last two years the narcissist has completely destroyed the nascent lithium industry in Mexico at a time when every other NA and SA country has supply on line or under construction along with battery factories.

You won't have a battery industry without the Chinese giants being involved.

AMLO had one reason, LOL

I don't think Clifford Chance will have much of a challenge ahead if the mining laws are overturned, now how did Morena justify the vote outside the chamber and without the opposition being present?

Clue - an interim law under little global event that had already subsided so the semi-presential session should not have been invoked.

But its good news to remind us that during Covid developments across many industries was halted, I'm sure as Peter Secker has stressed that Ganfeng and Bacanora kept within the investment requirements and infact claim to have exceeding them.

Also in as of March 2022 Ganfeng news release outlines spending plans $1bn - $3bn

The Sonora project has so far cost 50 million dollars and the mining company plans to spend another 3,000 in the extraction and manufacture of batteries in the future.

Of that amount, around 1,000 million will arrive "in the next five years," they say.

“Our plan is to have a company that dominates the entire lithium value chain in Mexico: that not only includes the mine, but also the production of batteries and their recycling.

Https://www.northernminer.com/news/mexicos-supreme-court-could-strike-down-presidents-mining-reforms-next-week/1003866150/

Canadian companies accounted for up to US$8 billion in exploration spending and 70% of foreign investment in Mexico’s mining sector between 2012 and 2022, according to figures from the country’s mining chamber, Camimex. They’re eyeing next week’s Supreme Court ruling like a traffic light for project exploration and development.

I do wonder if AMLO and Morena will see this as way out of a bad situation is it's overturned, as it should be!

Battery tech is moving so fast now that I'm sure there will be a surge in investments later in the year - Solid state, but also some big breakthroughs from the leading Chinese manufacturers.

Sell, of course

Getting quotes up to 275,000 not beyond with barcs @3.3p

I'll predict the institutional investor:

Dick Turpin!

Yes @tomcat-14, I was hoping so, and do we get another 1/2 percent with the cash raise?

@tomcat-14,

what is the driver behind the timing and why the full 1%, points 1 & 2 (plan B) below I can see could be due to be funded now points 3 & 4 (plan A) didn't appear to be so urgent, and why I hope we see a reason to expedite some of the work. At the same time if we have been obliged to hit 33% (add £500k raise) does this take is up to the expected investment to the point of construction?

The net proceeds of the Fundraise will solely be used to fund Cadence's investment in the Amapá Iron Ore Project in Brazil ("Amapá", "Project" or "Amapá Project"), specifically:

· Prepare a revised mine schedule, up to a Pre-Feasibility Study ("PFS") level, to reflect an increased production of 5.5 million tonnes per annum ("Mtpa"), with 4.51 Mtpa at 65% Fe and 0.99 Mtpa at 62% Fe.

· Prepare and publish a revised PFS economic model that reflects the production increase and the 33% lower plant capital expenditure, which we announced on March 22, 2024.

· The sampling and testing of the 67% Fe "Green Iron" product flow sheet, to a PFS level or accuracy.

· If the testing of the "Green Iron" flow sheet is successful, the preparation and publication of a revised PFS economic model to reflect the higher product quality increased production.

@Dallasdaz,

are we talking plan A or plan B, and the extra potential ore from Toscano? and will it be 67% shipped to the US?

Given the PFS was based around plan B - lower grade ore with a now known cost saving of circa $50m plus tax incentives with the procurement from China, should that have given the scope to include the DFS at a reduced risk?

Seems everything I considered positive is leading to deconstruction - ;-)

Yes @Dallasdaz,

no denying that was the case, as was in the first announcement:

Project Financing

Under the MOU, TCIDR will use its best commercial efforts to secure the required financing for the construction and re-development of the Amapá Project, including the necessary guarantees, project finance insurance and debt financing. In this regard, TCIDR is in discussion with SinoSure China Export & Credit Insurance Corporation and China Development Bank.

PBA, DEV and TCIDR will now develop a roadmap to seek to secure the financing for the DFS and subsequent project financing for the Amapá Project, and a fixed price EPC contract between DEV and TCIDR that will have the project finance, export credit insurance and credit support by TCIDR.

I suppose we should be asking where SinoSure fits in as the improvements in flowsheet design and plant procurement has been done in China with the sample shipments also being shipped there - so if the DFS costs have or will be swallowed up into the project cost then who has agreed to this?

@Dallasdaz,

both stockbox interviews covered the DFS funding:

Last Month:

https://www.youtube.com/watch?v=gEswmiGsVUA&t=630s

11 days ago:

https://youtu.be/5DTCChBU_fA?si=A7s_my4CNaevHmQn&t=420s

Admittedly these are based around talks with unknown potential partners, I did take this as giving a degree of confidence that they were in serious talks given the DFS would not be required prior to project financing - it may be I'm wrong or things may have changed - If I'm having serious doubts on the ability of the bod to see this through to delivering shareholder value - then heaven forbid!

Reduced capex, looking a construction early 2025, potential NPV increased to near $1.5bn, Green Iron shipping to the US....... and we near half in SP and wipe out our HAS holding.

For DFS, it will be part of implementation by which time we have project funding.

No funding needed,

You are not alone @ghin

@EV_Bull,

I agree, KM did say the unfortunate situation with HAS was justified by a better investment in Amapa, seems we've left the blackjack table to hit the roulette wheel with more or less all chips on Amapa.

I cannot see why we stretched ourselves for 1% increase in Amapa, that's one answer I'm looking forward to!

You seem too smart to be duped @Ghin, when did you sell?

Well hopefully the financing we have is enough to take us to a JV or buyout position, let's see what gets reported over this week - by end of this year all should be in place for construction and talks with several parties are ongoing - I'll wait the few days it hopefully takes to see through the reasons for what appears to be an ' out of the blue' cash raise.

perhaps the developments for supply to the US with 67% grade Green Iron has some bearing, I don't believe shipping those samples to China was seen as imminent:

https://youtu.be/5DTCChBU_fA?si=8w40SHobLsogpnv9&t=545

They must have an interested party in place, a possibility a decision on financing is pending the results.

I would like to see an RNS with 'Expedited'

@EV_Bull,

hence the Subject, why was it so important to get the stake in Amapa increased by 1% just now, could they have taken 0.5% and still have the funds to get us through to end of year by which point EMH should have increased (hopefully at least 2X)

Interesting to see why!

@mr.james

Cadence has provided a security package to the Investors as part of the Loan Facility. This package includes a floating charge over the Company's investments, placing its holding in European Metals Holdings into escrow

Could it possibly be the fall in the valuation of EMH or they want access to the shares?