Member Info for Laverda

Marcus, if you listen to George's interview 1.7m dollars will go nowhere once the plant fires up, listen again to his last interview.

Anyhow I am not on here to put a downer on everything, I just think you are over optimistic.

Funding then SC6, then see how much can be repaid in the wet season, dry season and hopefully it all picks up fast, but baby steps.

Marcus you keep proclaiming that Zulu is so advanced. To date no SC6, but hopefully the first next month.

You also need to raise funds as per George's interview.

How long will it take to drill and confirm a resource on the exploration area?

How much are production plants today? 150m dollars upwards.

Assuming the exploration area does prove a resource, how long will it take to repay Canmax, fund the drilling on the exploration site then save for a production plant?

The only thing advanced on here are your dreams. You are more than a little ahead of yourself.

SC6 next month then get chipping at repaying Canmax, once that is done take a look at where you are.

Elcobble, re Leo Lithium, some tax breaks have been removed, maybe DSO fell under one of those. They could be correct.

Starting to sell a different product to the one agreed in the mining licence, royalties, taxation, permits, running large tonnages down public roads, crossing borders, running down another country's road etc, easy to overlook something. It is not their main business, just temporary.

Yes that is correct, so instead of an option to purchase 10%, the option is increased to 20%, I am not sure on what price that is based. Once the funding is in, to buy in would be extremely expensive.

The part I am not so happy with is the 5% locally, unless Kodal and Hainan sponsor activities to the value of 5%, if it goes to local government officials then history has not been good in this area. I preferred it when Kodal were spending directly.

James and this article says they have been adopted!

https://www.mining.com/web/mali-adopts-new-mining-code-to-boost-sectors-contribution-to-gdp/

If it is just the ability to purchase additional percentages as in this article then it is much lighter than the earlier press article.

Sorry James, I need to start keeping folders.

James, sorry we covered it ages ago, it was a Mali minister being interviewed, he was at some big event, about the changes to the mining code and he said that none of the changes published in the press had gone through for consideration or approval.

You should be able to find it if you Google.

If anyone can remember the event he was attending that may help?

Remember that the audit centred around gold fields which were being sat on, where they had issued mining licences, much like the large property developers in the UK and their land banks. All covered in detail from January 2022.

James according to a previous article no changes to the mining code have been put before ministers for approval.

They continuously update the mining code and have done twice previously while Kodal have operated in Mali, the mining code changes are nothing new.

The Leo Lithium RNS when released will give us an insight into mining, trading and moving DSO in Mali and Africa. That is not in our plan but it will be interesting to see the general thoughts behind this.

Yes Merc, I wondered if it was a typo and should be September!

Interested to read that RNS when released.

Jenforluck - wagonwheels were bigger, the Summers were hotter and all the songs were big hits.

Kids bicycles were the weight of current electric bikes, no wonder kids had less body fat poor bu***rs

Malpenn, I can't believe he managed to get agreement on that valuation, there is nothing to support it.

That is the best thing George achieved in the deal.

Companies with DFS struggle to double that valuation on an NPV which is the full value, half of NPV based on a DFS is around max payments.

Jaglith, I think the bigger question mark is over the material going into the plant. What assessment Stark were given and the reality.

If the plant has to slow down so much to remove mica that it is no longer economically viable that is a pay dirt not plant problem.

It is easy to point the finger at Stark, but as a business they resolve issues at mines already as their main business.

This is their first full lithium plant, but it is mica not their plant creating the problems.

No mica - no issue.

Fukutu, that would have been absolutely dire, had George not managed to place a 200m dollar value on Zulu on which any repayment is based upon.

I can't believe they went for that value, no spodumene from the plant, no jorc etc. He definitely got one over on them with that valuation.

A number of times George said that nothing on the Zulu site was a surprise and there was nothing that they did not know about, he repeated it and indicated that he was a little angry at some comments in this area.

Yet day one the plant turned up with the wrong scanners to detect mica and extract it, they did not have the equipment to remove mica sludge from the plant, nor a ball mill to break up the rock into smaller sizes in order to separate mica from the spod.

Leo Lithium from their drill results, as they have not got a plant constructed, report low mica levels.

I was confused by George's statements in this area. Stark definitely are not stupid.

Sleepydisaster - a single person if I ever saw one.

Usual cabin fever when there is a prolonged wait.

I keep repeating the same line, but I have seen a number of companies recently rush things and fall flat on their face.

A lesson for us all to stop moaning about time and look for quality of work.

Looking at two other companies rush to earn money asap and the issues which followed.

I am happy to sit back and wait for Hainan and Kodal to do the job properly. Boring suits me.

It is the wet season in Mali, so a small portion of the money could be loaned from Kodal to the subsidiary to keep contractors working on site, drilling etc.

I don't know if Bernard will want Nielle to start up again ready for the big push to maiden.

Office manager, you mean it is more difficult to be consistently good at trading. Two completely different disciplines and always creates constant bickering on boards.

Sir_stonks - you need to look up the definition of derisked in the context of exploration companies.

Possibly also what a pilot plant is.

In mining terms it absolutely is not derisked.

In investment terms the company has negotiated a rescue package, I don't think I need explain that one.

George has done well from the position Prem was in. You just need that plant up and running early and SC6 produced from the plant. Baby steps.

A Greek island 🏝️

Marcus, with respect, you mean the starting line is in sight.

The finishing line is well off, years away.

A drop of SC6 before the target 1,000 tonnes would make it easier.