"Mexico VALUES S Sonora Lithium at $600 BILLION."-Mining.com23 Sep 2022 10:34
"Mexico VALUES S o n o r a Lithium at $ 6 0 0 BILLION."-Mining.com just out.
https://twitter.com/HC_Haplo/status/1573199695085699073 Sat, 23 Sep 2022.
The Mexican govt has valued Sonora at $600 B I L L I O N [US$]!!! In the article, it said that the Mexican govt is looking for partners to develop. Also, for clay lithium deposits, no commercial production has been known yet.
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I came back to post the above. Why?:
[1] REM plc was all about Sonora Lithium in Mexico. Chairman David Lenigas took a shell co on AIM and renamed it REM plc. REM plc's sole concentration was lithium. On Twitter, David Lenigas said Sonora was Saudi Arabia of lithium which is history now.
So, was he right? Looks like it. US$600 billion is mega money given few resources are into the 3 digit billions.
BUSINESS TWIST AND TURNS - HISTORY NOW
REM plc [old name for Cadence Minerals -KDNC] got into lithium with Bacanora Minerals then with a Lord. Bacanora was listed in Canada and the rules were different to London ie lower
% needed to mount a takeover. Bacanora then listed in London. Bacanora leaked out that REM plc wanted to take Bacanora over for £1 and RNS'ed it. Bacanora rejected the REM bid saying it under-valued the co.
With the passage of time, it was difficult to get funding with all the to and fro. David Lenigas got a contract with TESLA but then it was withdrawn. In very recent times, Lenigas said that the BOARD rejected the TESLA deal. On London South East REM which still exists, I posted a Seeking Alpha article which stated that if the TESLA deal went through, it would have been easier to GET FUNDING. Seeking Alpha also said that Lenigas got a SCOPING STUDY done with NPV so as to show REM shareholders VALUE of their JV [30%] in the Greater Sonora area. It is known that any project without $$ means it is considered just a LICENCE area etc.
Those who were enthused with REM were called this and that. Today, I come back to provide the MEXICAN GOVT'S VALUATION and it is far more than I ever imagined it. I think on this thread, I did an expolation from NPV of the Greater Sonora area and even then I could NOT come to US$600 BILLION.
If you follow the story, a few days ago, the Mexican govt has set up their NATIONALISED CO for their lithium.
As one knows, where there is a GREAT PRIZE, there are lots wanting it.
So, what about Ganfeng and Sonora now? Ganfeng took over Bacanora at 55p approximately without the free share in Zinnwald from recall but kindly check.
As one long timer said, IF REM plc had take over Bacanora, it would have been in PRODUCTION and therefore history could have been different.
Yes, there were many twists and turns. Lenigas and his Lordship - who knows who his Lordship wanted Sonora to go to?
As for the party, well at the height, REM plc went to 2.25p @£90m mkt cap. So, 5p party would be around the £200m mkt cap area. Many are far more than this in the lithium space.
SONORA IS NATION
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