Member Info for MajorOak

Is this still 2018 ??? Yawn.

NEL HYDROGEN news ... Less than 8 weeks to 24/7 fully automated electrolyser production. Factory video link at bottom of this post. Now 4-6 weeks and off NEL goes = 144 electrolysers a DAY !!! Nobody in the world can match this production rate. Enjoy.

Oslo, 19 August 2021) Nel ASA (Nel) reported revenues of NOK 163.7 million in the second quarter of 2021, up 10% from NOK 148.6 million in the same quarter of 2020 and an EBITDA of negative NOK 120.3 million (Q2 2020: -48.7) incl. one-offs and ramp-up cost. This includes costs relating to the ramp-up at the new Herøya facility which is still not contributing to revenue. The order backlog ended at NOK 1 078 million, up ~4% from same quarter last year. The cash balance ended at NOK 3.07 billion. Nel reiterates the strong long-term outlook and growth prospects for the sector.

“In the second quarter, we are very happy to see that the ramp-up of our Herøya facility is going according to plan despite challenges related to the pandemic. The new, fully automated, 500MW production line will be a game changer for Nel and for the industry once it is producing and we will start the ramp-up in the third quarter of this year; significantly reducing the costs of producing green hydrogen. As expected, Nel’s second quarter results are impacted by the strategic ramp-up, investments in people and technology and the continued effects of the Covid-pandemic. We are still expecting that the order intake will vary between quarters as order sizes increases and public funding mechanisms are being implemented.” says Jon André Løkke, Chief Executive Officer of Nel.

Nel reported revenue and operating income in the second quarter 2021 of NOK 163.7 million (148.7), following a growth in both the Fueling and Electrolyser segment compared to the same quarter in 2020. Nel is no longer reporting adjusted EBITDA separately, however, the EBITDA includes one-offs and ramp-up cost. In particular, results are impacted by costs relating to the ramp-up at Herøya, before production and revenue contribution from the facility. The reported operating loss was NOK -149.1 million (-70.2), while the pre-tax loss ended at NOK -314.1 million (594.3) following a net negative fair value adjustment related to the shareholding in Everfuel and Nikola. The backlog is up slightly since second quarter last year, with an order intake of around NOK 150 million in the quarter. Net cash balance at the end of second quarter 2021 was NOK 3.07 billion.

“Nel has a solid balance sheet and a strong financial position to execute on our strategic plans, and we will continue to invest in technology and people in order to maintain our leadership in what will be a rapidly growing market,” Løkke comments.

Nel is expanding its electrolyser capacity at Herøya, Norway, which is a key element to delivery on the cost target of USD 1.5/kg set out at the Capital Markets Day in January. The expansion of the electrolysis production will accommodate large-scale proje

LITHIUM CARBONATE production to start within weeks all now onsite for Standard Lithiums Arkansas project. Bring it on !!!
https://www.globenewswire.com/news-release/2021/09/01/2289892/0/en/Standard-Lithium-Provides-Update-on-its-El-Dorado-Arkansas-Project-and-SiFT-Lithium-Carbonate-Plant.html

Emh cinovec 'was' a tin mine. What is it now ?

THE largest deposit of Lithium in Central Europe, closely followed now by Vulcan Resources BRINE operations in Germany.

Just saying...

https://m.youtube.com/watch?v=safJU3Bxqag

How many open / predrilled mine shafts already drilled across Cornwall ready for a 1500m pipe to drop down ? Most of the drill cost already removed ... ?
Nudge nudge.

Some very big companies watching developments to a $2 Billion+ Cornwall lithium supply. CUSN going to turn down any big money offers or just stick to thin lodes of tin and copper ?

Just saying think about whats is coming not the past...

Tyson SLL coming up ! Being eyed up

LITHIUM CARBONATE production to start within weeks all now onsite for Standard Lithiums Arkansas project. Bring it on !!!
https://www.globenewswire.com/news-release/2021/09/01/2289892/0/en/Standard-Lithium-Provides-Update-on-its-El-Dorado-Arkansas-Project-and-SiFT-Lithium-Carbonate-Plant.html

Some of the big car manufacturers, not just Tesla, but Renault and others, are already signing agreements about how they source their low carbon lithium because they can see what’s coming – you won’t be able to produce a high carbon lithium battery within Europe fairly shortly,” he said.

CUSN have a deal with this gamechanging company.
Just saying you never know who is watching whats happening in cornwall in what is viable and what may not be. Happy to have tin & copper here and big side salad of lithium sauce.

https://www.euractiv.com/section/energy/news/game-changer-for-geothermal-energy-as-uk-plant-unlocks-vast-supply-of-lithium/

Morning Cornish.
Yes, I get the situation for CUSN and the inconsistant and the fact the geology leads to these lodes rather than a thick vein / full seam or bulk lump of gresien like emh which is 150m x 400m x 300m lump of lithium & tin in the main. I do not hold cinivec emh due to the political risk I add.

In my travels I know the interest in the lithium across cornwall and it is becoming very much more of a noted resource where 2-3 years ago cornwall was tin and tungsten.

Trust me , as the tech gets proven up by Standard Lithium, Vulcan, Eramet ( Frances version of Cornwall same Westphalian strata of mica lithium ) you will hear much much more as a CUSN holder.

I know British Lithium are setting up plant to test by end of year. Results from that and anything more from Cornish Lithium ( BOTH I fully expect to nail their results 100% ) and lets see if there is a rush to get hold of CUSN shares before C L announce listing and the CUSN deal kicks in. Then lets see how high the share price gets here and for CL which CUSN will part be involved in.

I seriously believe the first revenues will still come from CL's need for lithium access at United Downs.

Trust me on that. I will be adding more as the sell off continues today as many will just want that tin / copper access, which will come good at S Crofty.

Anyway, have a good day. Off to work now. Checking in again around 6pm. Fingers crossed for still above 10p for you guys. Me I'm happy with 8p again so my average stays roughly the same.

Good luck for which ever reason people are invested.

Sorry Cornishknocker it is completely my mistake. Partly Southwesterners comments mixed with my tiredness and I got my pants in a twist.

I find the lithium so exciting based on cinovec. Its all about the volume of brine now under UD and that landmark project which I strongly believe in here.

Cinovec lithium is supported by Tin volumes.

I don't see why the metrics and materials cannot be in the same proportions = viable slice through from surface to aquifer at 1500m and all in between down to mineable levels and drillable holes.

Either way to me CUSN wins.

I'd love to get something in the ground to the N W of Bodmin. Li must be a very strong candidate up there and based on cinovec I suspect there will be abundant Tin more so than copper. Guess that is for others to find though...time will tell.

Thanks Vis for taking the time to reply.

Just had tea, a soak and was about the look again at the UD deal with CL. Fully agree with all you posted.

I am in here really for the lithium, sorry Cornishknocker and Southwestener. I had REALLY close contacts with Cinovec and know Tin can dramatically influence their project numbers , the main reason why I think they will attack both margins within the southern end of their project. Based on this and my knowledge of the lithium mica low grades, test processing and now a newer Imery style of dry processing being put forward by CL has peaked my interest here.

I noted Cornishknockers snipe at the lithium rampers, however I do understand he will be here for the Tin and Copper , it is Cornwall after all it is well and truely in the blood. I am 100% for all types of UK progress and although I live in Sherwood Forest , I understand how much mining means to communities the pain and struggle and to a degree hatred of old dirty industry. I acknowledge all sides. I just want the UK to stand up for itself , with the brilliant scientists, knowledge base and leading technology companies. We all deserve a break, some luck and to build new industries for our childrens futures.
I believe in lithium in Cornwall. British Lithium even has Cinovec mine on its website to enforce the potential ( 100% lithium industry is about to come to Cornwall ).
There is battery grade lithium in ground and in aquifers. No question. To ignore the need for it and not nod towards where it is and how it could fund CUSN over the long term with the 25% interest, royalties and upward share price is not really being taken in to account here.

I am not sure I am explaining myself ?

So an example. Ironridge ( Africa ) have done a deal with Piedmont Lithium ( US ) to allow Piedmont access to large amounts of lithium rock dirt, that will still need to be processed and shipped to either the US or EU. Ironridge were until very recently a gold company.

My point being strategic in demand metals will drive the energy sector ( transport, steel, home power you can just about name most industries that will need lithium ). Ironridge has danced to the music and will spin off its Gold to become a pure lithium play. That is the strength of market demand.

Cornwall sits on the Westphalian Strata and has deep rock heat from the volcanic events that just happen to have formed the Cornwall landscape. There are some fantastic , worldclass opportunities right now and Cornwall will become rich again.

Holding Tin, Copper, Silver, Tungsten and Gold is a beautiful thing. South Crofty will mine its Tin. Cornwall will produce tons of lithium. Which way CUSN bend and shape may well be market led, without a choice ? You never know who may be watching and waiting. Not the first time I have said this. The UK Gov needs lithium full stop. Tin and copper too, but which creates a new industry , jobs and security ? All 3.

What would be the price of the land just based on access and royalties to CUSN as this is Cornish Lithium headline project ?

I fully understand that CUSN want Tin & Copper but if the whole asset sits on top of a lithium aquifer valued at $500,000-1,000,000 in lithium then surely there is value to add to support the extraction of tin & copper ?

I have said and still believe lithium brine will be the first revenue for CUSN. These results today will not bother me as my holding is for cheap access to CUSI and having to Tin ( cinovec - as an asset byproduct ) and add on some great copper ? Win win.

The aquifers across cornwall are the frontier of cornwalls new history in the infancy of its long life.

https://cornishlithium.com/projects/lithium-in-geothermal-waters/united-downs/

Don't write off this deep underground asset.

Thanks Cornish & Southwestner. Great input and good to see you back up and not crucify the guy for mentioning lithium lode. Nice and friendly.

Ok. My question is you both seem to have put a full stop here with these results yet the headline from all media states Cornish Metals " pleased " with drill results ?

Richard Williams, CEO, stated "Drilling at United Downs has successfully demonstrated the continuity of UD Lode along strike over a 200m distance, and highlights the potential to discover new zones of copper - tin - silver mineralisation adjacent to the main target. Drilling is ongoing to fully determine the lateral and vertical extent of these zones of mineralisation."

I am not in to mining much either, although I know more about the deposit at cinovec than I do here.

Could you suggest why the company are pleased with these results ?

Thanks for the pointer towards a possible 18 months to production due to being above the water table and having 'bulk'. Enough to be economic.
Vis - emh looking at processing rock mica , same mica as in cornwall , via a subtle change in the roasting process. They are further down the final dfs road.
HOWEVER CUSN and Imerys process of dry mining the kaoline and mica looks EXTREMELY interesting to me and I am in the process of comparing the two. Initial thoughts make C lithium process look much more efficient so better cost savings ? It all counts.

Tyson, it isn't staying down for long.

New plant to start up - big news
New processing and new lower costs due to no transportation to vancouver - cost savings
Take off deal with Stellantis STILL to be announced , they signed the deal, but who's getting the US Standard Lithium supply from , cough cough, the new plant ;-)))

PLENTY to make Standard THE Standard in the US.
Just think of the promo when they make the first big production run !

https://www.researchgate.net/publication/248402519_Processing_of_zinnwaldite_waste_to_obtain_Li_2CO_3

The plan initilly for cinovec was to get dirt out from the near surface tunnels to widen them to get the crusher below ground and widen chosen others for access and health & safety. Digging in to the deposit to widen tunnels was still digging out lithium/tin mix so this prep waste when supported by old historical waste / dams would chunk up the starting tonnage. Most of the dam wastes have been processed to a degree so would contribute to initial production start up.
Once the mine was fully prepared and plant running then the real mining could start. This would be based on a daily basic tonnage. If for any reason there was any down time due to underground issues, the dams could step in and supply dirt to process.

Thanks Sid, any time line mentioned ? Trying for DFS?

When will the new theory on mica processing be announced ?

Cornish thanks for the link.

I am on it now. Back in a few days. Will see if my knowledge of cinovec comes anywhere close ?

Will do my own research and ask a couple of australian friends what they know :-). Cinovec is the closest I will find to anything Cornish Metals ( Lithium ) will find.

As for the dams, has anyone found any estimates or dam build maps/diagrams ? If so could someone be so kind as to post them please ?

The cinocec main dam has ample tonnage to easily start testing, I have the exact length depths and height of the main one so some fag packet maths showed what was probably there based on the location it was taken from and general grade in the section. However, it is too close to the village and ring road to be subjected to large works being carried out.

The brines are really what I am interested in as I repeat I am pretty sure this will be first revenue for CUSN from production. Royalties etc ...

Anyway, got something to get my teeth in to.

https://twitter.com/Geo_Projects/status/1430875938355613707?s=09

Interesting