Member Info for mac4671

Could you ever imagine employing a reputable company to value your house and then someone arguing with the valuation because you had to pay to have it done?

That's the level of stupid the suggestion is at! Lol

GLA

Looking like a decent little move, hopefully just the start of more to come this week!

Palladium is doing well still, $2322 on the ask -

https://twitter.com/KitcoGoldQuotes/status/1557381280551018503?s=20&t=QA34TTGuD74q1Zp9m36UXA

GLA

They're clearly trying to time everything to all come online at the same time, using Czech Lithium to supply the Czech gigafactory and then feed the relevant EV markets.

It's just a matter of time, but, it's a large industrial shift so takes a bit of time to set it all up!

GLA

Japan are not buying, Japan would be a customer. They want to hold on to their current stake at Sakhalin, therefore, they will also still want Green Hydrogen from there at a later date via our H4Energy JV arrangement. I guess they could potentially come in to the Sakhalin Green Hydrogen aspect as the Asian investor that has been talked about -

"· Project finance plan being developed further to ongoing discussions with Asian investors"

It will be interesting to see exactly what happens with that JV as the potential is currently off the chart, Hydrogen is picking up pace rapidly at the moment!

GLA

It will be a lot of work, building from the base plate in the annual report up, but, once operational there should be a great benefit at the West Kytlym asset. Hopefully we get an update on it soon!

Everything will come in time here, there's nothing more certain with the BOD that are in place and the clear work ethic of the team on the ground.

GLA

Does anyone have any idea of how long it takes to put one together?

GLA

It's such a pointless RNS, raises your hopes for nothing lol

GLA

Crying in to their coco pops!

GLA

Sinosteel and Citic Merchant in one place, you couldn't really ask for a better BRIC's setup imo.

It's a also the biggest tell tale of what's currently going on behind NDA's, because, well, if there was any doubt they would have drawn down on the EPCF and started taking Monchetundra to production themselves.

Dmitry has created a great M&A situation here, as a buyer you have no choice but to dig deep to secure what you're after!

GLA

No steven it won't, no matter who is involved here the Lithium demand situation remains.

With Hebei Xinjian Construction now being here after doing their due diligence, the Lithium will make it to production and Chinese off takers found relatively easily imho.

GLA

Everyone likes a pool expansion, right? -

"it is China's biggest state-run conglomerate[4] with one of the largest pools of foreign assets in the world"

Could you imagine having an engagement letter signed on a 'SUCCESS FEE BASIS' with China's largest state- run conglomerate! A country known to bid way over the top to secure exactly what it needs!

GLA

Green boxes don't have a clue -

"The Company confirms that it has entered into a success fee based engagement letter with CITIC Merchant to, amongst other things, explore possible strategic options for the Company's mining assets"

GLA

Not interested in the junk threads, let's talk Eurasia mining and the current BRIC's situation.

Could China have very deep pockets via Citic Merchant and Sinosteel to acquire Monchetundra, or, go in to consortium style deal with Norilsk? -

"Sinosteel Corporation (S: ????????, T: ????????, P: Zhongguó Zhonggang Jítuán Gongsi) is a state-owned enterprise, primarily in mining, trading, equipment manufacturing and engineering, under the supervision of the State-owned Assets Supervision and Administration Commission. Founded in 1993 and based in the People's Republic of China, it is the country's second largest importer of iron ore."

CITIC, now they're an interesting group to have an engagement letter signed with aren't they! -

"CITIC Group Corporation Ltd., formerly the China International Trust Investment Corporation (CITIC), is a state-owned investment company of the People's Republic of China, established by Rong Yiren in 1979 with the approval of Deng Xiaoping.[2] Its headquarters are in Chaoyang District, Beijing.[3] As of 2019, it is China's biggest state-run conglomerate[4] with one of the largest pools of foreign assets in the world."

GLA

Everywhere you look with Eurasia it is all BRIC's -

"a major importer of iron ore to China"

They could become a major importer of Nickel, Copper, Palladium etc i suppose, they've already done their due diligence on Monchetundra for example!

GLA

My favourite part -

"the Company can trigger the start of the Sinosteel EPC contract, at any time at its discretion, until 2027."

Poor green boxes, there's absolutely nothing you can do!

Monchetundra and the wider Monchegorsk district will come online in any situation, either and asset buyer will take it to production, or, we'll take it to production ourselves.

Metal prices and metal demand forecasts remain!

GLA

"Sinosteel EPC contact update:

As Monchetundra's flanks application is progressing, the Company keeps its EPCF contract in place with Sinosteel, which establishes the route to the Monchetundra Project's development. Sinosteel is a diversified and integrated base and industrial metals enterprise and a major importer of iron ore to China. The Sinosteel EPC financing covers 85% (or US$149.6M) of a total contract value of US$176M.

A US$50M sub-contract is specified within the contract and is assigned to Eurasia's 80% subsidiary TGK, or a sub-contractor of its choosing, for engineering and pit development works in advance of mining. Once activated, the contract provides for a payout of the US$50M subcontract over a period of 36 months. The sub contract has not yet been activated by Eurasia as it continues to consider its options for the assets. In the meantime, the Company can trigger the start of the Sinosteel EPC contract, at any time at its discretion, until 2027. Accordingly, Monchetundra project remains 100% financed as previously announced. Further updates will be provided in due course as appropriate."

GLA

Approaching the second deal tranche date, we'll hopefully get a small update as well as the announcement of its arrival.

The Lithium coming online here will be a welcome sight -

https://www.mining.com/hundreds-of-new-mines-required-to-meet-2030-battery-metals-demand-iea-report/

GLA

That's the true scenario in one article, there is no work around, all resources are required to be online for the transition. The ones holding relevant assets with benefit the most, hence a scramble by the large companies out there to secure what is needed.

Even a bidding war between two chinese groups would fetch an appropriate price for something like Monchegorsk, it's a huge resource rich area!

GLA

They appear to also be trying to get Gas to Europe -

"Aug 7 (Reuters) - Russia’s Gazprom said it was shipping 41.3 million cubic metres (mcm) of gas to Europe via Ukraine on Sunday, versus 41.6 mcm on Saturday. (Reporting by Reuters; Editing by Susan Fenton)"

https://www.reuters.com/article/ukraine-crisis-russia-gas/russias-gazprom-says-it-will-ship-41-3-mcm-of-gas-to-europe-on-sunday-idUSS8N2YB0BQ

GLA

"The U.N. and Turkey brokered the deal last month after U.N." - The route to peace is quite clearly through the U.N and Turkey at this stage imho. From this hopefully other agreements and talks can be made -

https://www.nbcnews.com/news/world/four-grain-ships-depart-ukraine-officials-say-rcna41890

GLA