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A month ago we were 8p. We’ve raised 12 mil that da made off comment will be enough to take us past feasibility. We all knew it was needed. Job done and we can crack on with some costly actions that are needed at the business end prior to production :) Wouldn’t be surprised if the 15mt gets triggered soon. I did like da’s comments around drilling in Portugal in interview... I think mdb will be bigger than any of us could imagine ... that’s forgetting our strategic foothold in Portugal for phase 2/3/4/5 :)
https://www.asx.com.au/asxpdf/20180605/pdf/43vk1x0fmx9sj0.pdf Brought to my attention by another long term holder yesterday... nice to be a peer to a company trying to emulate our blueprint in Mozambique ... mentions of chilubane down south (we’ve applied for license there too remember) ... good read to remind ourselves of what a fantastic deal we had with Rio :-) Bit of a lull currently ... won’t last long with what’s coming
Don’t forget how long it’s taken them to get (seemingly) where we are. They were there before us 2 years and we are at same stage. Credit to board. Personally, I’m hoping for a bit more colour around final sign off. A timeline from PAM or something of that nature. Reading the subtexts - the ministries are the biggest inconvenience in Oman and PAM want to get things moving
Brad - good point...the reference in presentation to Altura was more than a 'size of the prize' comparison. I believe da will be replicating as close to possible what they've done. They defined 20mt for initial scoping, then feasibility, then released a scoping later where they doubled output as resource increased. This isn't something out of the ordinary. Simply a good asset in a good country At the right time. similar projects already proven and proven to be highly valuable to investors :)
The scoping will be on the 17-21mt I think it's pretty safe to say... As resource upgrade due similar time. It seems like we're pretty much doing what Altura did like for like. I believe their initial studies were on 20-25mt. And come dfs their resource was around the 40mt mark. Grandao keeps delivering. Great rns yesterday :)
At the time I was a little nervous about Portugal but once I understood the milestones of 2 x 7.5mt I was excited about the prospect. Now what's happened since ? We'll be establishing a 20mt resource off 3 of our 8 deposits in just our mining lease. (The other areas are upside for Sav as a production company) ... There's no surprise here except we've bagged THE best lithium deposit in Europe and something that will have worth of hundred millions :)
I think there's a misconception around Oman license's. PAM get to formalise a mining license after the 8 ministerial approvals. There's not 1 authority that deals with this. It's complex and seemingly hard work. I'll be very interested to see how things move / get released once we have all 16 approvals in place. As you can see, Alara (despite being '3 years ahead') are still at same stage as Sav. All the noise around mining regulation has come from the public authority for mining. Let's see if their bite matches their bark when applications are in hand.
A lot of excitement after the Swiss presentation. The penny finally dropping with Portugal and its opportunity. Pfs in Mozambique in next couple of months (35% - worst case - if Rio were to cancel jv or buy us out ... We're onto a winner) Oman - who knows - but a lot of market enlightening news to be coming out around approval End of year results this week I've ramped. Now I'll sleep for a couple of weeks
Very impressed with Swiss presentation ... Did like the subtle quote of 'predominantly self financing operation' in Oman. Obviously the main game is Portugal. Like ice says - there were alot of nods and hints as to what we're onto... Numerous mentions of Chinese offtake .. (Wouldn't be plucked from thin air imo) ... Altura based initial study on 24mt. We'll be doing something similar. Altura - 1.5mt a year. Sav - 1.5... This project will be 40mt + one day... But that's not priority - going mining is. A mention of inferred resource update in Q1 19... That will be another show of how big this is ... You invest in management on AIM. I never bought shares here for lithium but it will be lithium that gives me what I always wanted in this company :)