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Just out from Mexico re: Bacanora Lithium

"LITHIUM BATTERY PLANT REQUIRES $ 2 BILLION IN 10 YEARS,
$400 milion in 3 years,
$40 million in Feasibility, Geo Studies etc.
Ganfeng Tech." Etc

httpsS://twitter.com/eleconomista/status/1376715805916733440 dated Tues, 30 Mar 2021
[Verified Blue Badge]

--
My Comment: As I said, news is coming out of Mexico from Bacanora@?
The above is also widely circulated by other press sources.

REM-KDNC & Bacanora : JV 30% in SONORA LITHIUM LTD [SLL], GREATER SONORA LANDS.

See what folks make of it. I have an idea.

Tues, 30 Mar 2021 @11:50 noon.

FOR THE AVOIDANCE OF DOUBT:

---SONORA LITHIUM LTD - EL SAUZ - FLEUR [Greater Sonora Lands, Mexico]--
Over this Sat and Sun, the above has been discussed & is as follows:

1] Sonora 250 years potential as in the Bacanora Lithium presentation and stated as "250 years."
NO details given on this aspect of the greater potential.

2] Sonora Lithium Ltd [SLL] El Sauz - Fleur : 30% REM JV
REM Scoping Study 2014 - REM RNS issued 22.12.14

I have now checked that SRK was the firm via a tweet from DL:
"Top shelf SRK have extensive lithium experience and it is great they are now working on ALL of Sonora. Cant wait to see what they calculated." 17.5.15

REM commissioned and funded this said Scoping Study [ref: Seeking Alpha article I quoted from with links]. Seeking Alpha also said that BCN did NOT issue their own commissioned Scoping Study. As yet, I have not seen this study in full except for the outline per the said REM RNS.

3] There is NO broker report on BCN except from VSA with a short summary and target price issued some time ago.

4] There is NO broker report on REM - KDNC that is current. Otherwise, broker reports on BCN and REM-KDNC would have set sight on the detailed Scoping Study etc. Usually, the full DETAILED broker reports would cover many aspects of Sonora.

Conclusion:
So, the aspect of the 250 year potential of Sonora is NOT elucidated by BCN.
For this reason, one has to conclude that there is NO VALUATION that one can see.
As said, Degsie on the main KDNC board spoke to Kiran Mozaria, CEO, KDNC to also ask about Sonora. Mr Mozaria pointed out a figure from the accounts from years ago of a total figure that included the stake in BCN.

One therefore has to wait until one can set sight on reports that will clarify the above points?

News, Mon, 20 Mar 2021 [Before the market opens at 8am]

DYOR. Kindly do due diigence. Kindly check.

@observer842

Mexican press now shining spotlight on Mexican lithium in particular and in general now.
So, one may learn a lot more now:

What was reported today PRIOR to the hoo ha about speculation and selling of concessions:

1] Who approved all these Mexican lithium permits? Names now given.

2] Bacanora has applied for 2 MORE PERMITS out of the 16? Not aware there were 16?
Or have more been applied for than known?
MORE IMPORTANTLY, ARE THESE UNDER SONORA LITHIUM LTD [SLL] THE JV WITH REM OR ARE THEY GOING THEIR OWN WAY? ANY RNS FROM BCN ON THIS?

3] ROYALITY
Case was said to have been started. NO UPDATE or RNS as no record one can find that a case has been lodged. REM 2014 Scoping Study mentioned taxes and royalty to be paid - this is norm. So, is there or is there NO ROYALTY TO BE PAID? This is price sensitive news, one would have thought?

4] Re: Tesla and Sonora lithium. 2 articles out on that? Will there be an RNS from the JV Partner/s?

5] Stage 2 is coming onstream in 2024 at 35,000 production figures?
Any update on that? Ventana*s production 2023.

6] MEXICAN NATIONAL DEBT- Per Feb 2021, the latest figure is for 2019.
Mexican debt is 645.45 BILLION.
As I said, per old REM @AGM, Value in the Ground at Sonora @$50bn.
Said its not possible for the whole 250 year potential mine life at $50bn, so not just Ventana [88% mine feed], 50 yr JV area only but the whole acreage marked in RED STROKES on the Sonora map per BCN presentation.

SONORA 4 x national debt?

Oh, that needs to be resolved or to ask Kiran Morzaria, CEO , KDNC as that is what any REM*er will WANT TO KNOW OR NEED TO KNOW. Otherwise, how can one know what one is actually holding on to?

7] All this is coming out of press, politicians etc who are discussing Mexican lithium and proposing legislation - they must have figures surely to back legislation?

So, many questions for REM*s JV PARTNER/S NOW.

KDNC has been keeping shareholders informed so if they have not been told by the JV partner/s about Tesla [true or not?], then they cant tell us REM*ers can they?

Rushing off. Had a long day and pardon typos.

The page freezes so often so I just type and not about to correct or edit. Sorry.

News, Sun 28 Mar 2021.

"Foreign miners target MEXICAN Lithium."- La Jornada, 3 hrs ago, Sun 28 Mar 2021.

Quote:

"1st in line Organamix [Canadan], then BACANORA LITHIUM, owner
of the LARGEST DEPOSIT of this mineral in Mexico,
16 permits but 2 MORE in process equivalent to 87 thousand & 87 hectares."

https://twitter.com/lajoradaonline/status/1376186004281905154 [Verified a/c]

---
Interesting whether THIS IS UNDER SONORA LITHIUM LTD [SLL] which will include REM plc - REM MEXICO or not?

I have NOT seen any RNS from BCN re: above?

So, as I said, the ACREAGE IS THE THING THAT IS OF IMPORTANCE as that means that the deposit can be expanded and that means $$$. Acreage as in LITHIUM MINERALISATION via strike and depth.

So, one wonders if KDNC are going to be informed or know otherwise, one is just reading the Mexican press to know what*s going on?

Suffice to say that it is now COMMON KNOWLEDGE THAT SONORA HOLDS THE LARGEST LITHIUM DEPOSIT in Mexico and widely known in Mexico in many circles.

Nws, Sun 28 Mar 2021.

More on Yangibana but that is Barksy1*s job to post on that.

Conclusion:
HISTORY NOW RECORDS THAT EMH WAS FAR MORE ASTUTE AND COMMERCIALLY MINDED.
How? CEO of EMH was aware of what the Head of State, Czech Rep, govt, officials, politicians, press and ultimately people said. Given the Head of State, Czech Rep is a business man, the solution was acceptable to all. In the end, politicians were told in their discussions that
were it to go to arbitration [international], then it would involve time and legal fees etc.

So, in the end, a MEGA CZECH UTILITY took 50% of CINOVEC at double EMH*S MKT CAP. That was acceptable to all parties including people etc. SO, A HAPPY ENDING and today, EMH has a mkt cap of £175m the last time I checked despite the fact that 50% of Cinovec has gone to a Czech org.

However, EMH was astute NOT to attempt to JV Cinovec with any 3RD PARTIES. Hence, the situation could be saved.

However, in the case of BCN*s much discussed sale of SONARA SLL, from 22.5% to 50%, this is NOT the case. It has already COMPLETED ie deal in Feb 2021 so they can GO BACKWARDS IN TIME.

In Mexico, this is not something new and if the above did NOT happen, it may well be that the Mexican govt could have taken a stake which would have helped matters.

Right now , no one yet knows what will transpire or NOT? One can only wait and that is FACT now.

BCN CEO says he hope that the Mexican govt will keep to their contract signed 10 years ago [para phrased] which I read in a Mexican publication but translated into English. So, everyone is cognisant that SONORA has drawn ATTENTION so to speak from this said sale to 3rd parties.

REM IS NOT INVOLVED AND NEVER SOLD ANY CONCESSION IE 30% JV AND THEREFORE REMER*S HOPE THAT THE 30% SHARE WILL REMAIN INTACT etc?

Obs, let me say this : whatever plan we think is good X join with Y part, that is NOT what is at hand as our views are not relevant given we are not CEO*s of either co.

As for what you and Tom have discussed before, that is good and fine.

I go my way as said and this is how I manage cals.

I wait for further research when I have time or if I can ask DL but this is no longer possible as he cannot say anything more on this given the sensitivity involved now and also he is no longer Chairman wherein we can ask at an AGM etc.

So, I leave it there and UP TO EACH ONE NOW to do research, due diligence.

Let*s hope REM is NOT CAUGHT IN THIS and that would be a GOOD OUTCOME. Hopefully, Kiran Mozaria, CEO of KDNC will make representation prior to any Mexican govt decision as is norm.

CAVEAT: As it appears. One only has perception as no one is privy to discussions etc or agreements etc to view.

News, Sun 25 Mar 2021
This subject matter is closed now from me as I await further developments via press or official RNS*S OR Mexican govt announcements. Pardon typos as I am trying to type fast and cannot change down and up as the page freezes so often.

Fair enough. I have just come in and ready for high tea, hence I will be brief.

DIFFERING PERSPECTIVE
So, from my perspective, I have taken the REM 2014 SCOPING STUDY [brief]
that was issued via RNS of 22.12.14. D.Lenigas, Chairman pointed out that thus far the 4km+ strike [open and at depth] is vs 250,000 acres [or he used 1/4 million acres].

This is of the greater interest in Mexico that is being discussed as a hot topic. So much so, the Head of Bolivia has been to meet the Head of Mexico [ I have seen the video]. Then, in the Reuters article of a few days ago, the statements about Bolivia also came out from their Head oaf State and what he told Mexico*s Head of State relating to LITHIUM that everyone now wants.

In Canada, Australia etc, one cannot just acquire property if not a citizen. In Australia, all sales etc have to pass the Overseas Investment Board [see details of threshold].

So, in the case of the 50% sale of SONORA SLL [from 22.5% to 50%] of Ventana & EL Sauz-Fleur Greater Sonora Lands, this is where the SPOTLIGHT IS COMING FROM relating NOT to REM plc as there is NO mention anywhere of DL-REM re: SONORA 30% JV.

So, Mexico does NOT appear to have had such a dept to deal with this transaction.

It is beyond our remit at this time to know what is going to happen although SP Angel has commented on this in late 2020 and its implications re:SONORA [lithium].

For us, at REM [that is the official name on the agreement etc], we hope and pray that our position is looked upon favourably by the Head of Mexico and govt + politicians who are discussing this at the highest levels including their press.

Unfortunately, the former Chairman & Founder of REM is not on the board currently at KDNC so one cant ask him as that is not his remit now.

As for the JV 50% sale that is of hot discussion as said, it is NOT up to us and we have NO interest given it is NOT our man that is being asked anything.

So, we leave it there.

Many people are not interested in NPV etc. However, the market attributes MKT CAP to say NPV. Eg Vulcan Energy, Oz who have a NPV of some $2bn and they have a mkt cap of some $900m from the last time I checked. Their lithium project is in Germany so its a more favourable location for Europe. It appears they are trading via MKT CAP of 45% to NPV. They own 100% of their lithium and not as far advanced as Ventana.

I have also done some cals for BCN trading at % to NPV - that others can do as this forum is not about their mkt cap but rather REM and what the future holds and the VALUE TO OUT as and when ? That is qualified by POST MEXICAN GOVT announcement once their analysts have done their sums.

So, thank you, Obs.

News, Sun 28 Mar 2021.
KDNC is about Amapa iron ore.
KDNC .pl is about lithium - SONORA -legacy of REM days.
So, about everything covered.
DYOR. Please do due diligence.

Observer842

It would be now of interest to everyone to see Observer842%s hypothesis of why Sonora is subject to Mexican interest from the Head of State, govt, press, publication, elites and to a greater extent the people?

What is your idea/hypothesis of the 250 years of potential mine life as put out by BCN in their presentation? This is of IMPORTANCE as this is now subject to Mexican govt interest and their analysts are working on it ie presumably Tier 1 global investment banks.

So, how much is YOUR ESTIMATE HYPOTHESIS FOR THE 250 YEARS and WHY THE MEXICAN GOVT HAS GONE REALLY HO HO HA ABOUT 50% SOLD [Speculation: Sale of Concessions per Reuters article - REM NOT NAMED AT ALL]?

It does appear that for 50% = $50 MILLION+, the new JV partner to SLL [SONORA LITHIUM LTD IE EL SAUZ -FLEUR ETC] got 250 years of potential mine life, NOT just Ventana 19 years mine life which was 100% owned by BCN previously. Now, the JV partner owns 50% of Ventana and 35% of SLL, 35% BCN [from 70% cut down 50% to 35% due to the JV updated Feb 2021 sale] &
REM 30%.

So, lets see Observer842*s hypothesis. Then, we wait for the Mexican govt, Head of State to inform further once their analysts have done their sums etc?

After all , this is WHAT IS OF IMPORTANCE TO THE MEXICAN GOVT, not just Ventana BUT SONORA , THEIR PRIDE?

Thank you.

News, Sun 28.3.21
Will look later.

contd:

Head of State , Mexico & Govt per Reuters article a few days ago said that the govt has commissioned ANALYSTS to work on it.

Perhaps, if as norm, the REM 2014 SCOPING STUDY - SONORA [SLL] HAS BEEN LODGED IN THE MEXICAN MINING DEPT, then the govt would have take also in hand.

I have only used the $50bn value in the ground @REM AGM per 1 poster which is yonks ago but have NOT used the updated 25.3.21 Fastmarkets LCE price @$13k mid-point.

That already has worked out to be some $ 6 9 8 BILLION for the hypothesis for 250 years?

From what I could gather, from the Reuters article, the point was made by Mexican press that the SLL sale was increased FROM 22.5% TO 50%.

In many projects like the giant Oyu Tolgoi in Mongolia, the govt has a % share.

So, one awaits the Mexican govt report etc.

Suffice to say the 50% sale @$50bn value-in-the ground at old prices @0.1% or 0.2% grossed up @$50m + has not met with favour with the Mex Head of Govt, Govt etc? I am NOT PRIVY to Mexican discussions going on so one can only read what is in the press report.

Before anyone has anything to say, that is my hypothesis - ACTUAL FIGURES WILL COME FROM WHAT IS IN THE REM 2014 SCOPING STUDY ETC WHICH DL SAID IS 4KM+ VS 1/4 MILLION ACRES AND IT IS BCN THEMSELVES WHO STATED 250 YEARS IN THEIR PRESENTATION. In some press reports in Mexico, it was said 300 years??

So, if anyone has another view/hypothesis, NO NEED TO JUMP but just prepare one*s own hypothesis and signed Obs etc. Then, when the Mexican govt , press report further one can see it more clearly. One can only see what is published.

Thank you. That is from me, JUST AS OTHERS POST HYPOTHESIS.

As said, always Do Your Own Research and DUE DILIGENCE. CAVEAT: Check for yourselves and do ask if not sure at wherever one wants?
News, Sun, 28 Mar 2021
[Sat & Sun posts refers]

**HEAD OF STATE, MEXICO, GOVT, PRESS, PUBLICATIONS, ELITES ETC****
The Reuters article of a few days ago mentioned that the Mexican govt wants a greater participation in their lithium industry and "speculation" via selling of concessions?

Mexican press pointed to the BCN 50% sale of SLL, SONORA? Kindly check the article.
REM plc NOT mentioned at all given REM has NOT sold their 30% concession in SLL.

SONORA IS THE HOT TOP IN MEXICAN LITHIUM AS T H E ?
So much so, one Director of a publication in Mexico has been to Sonora [SLL] and produced a video of SONORA , Ventana Ranch clear up etc. SONORA IS THE HOT TOPIC IN MEXICO re: lithium.

So, from what is given re: 4.5Mt of lithium carbonate equivalent, that is NOT THE ONLY STORY?
As said, this is only for VENTANA [BCN 50%-GANFENG 50%]
NPV -$1bn+ & 19 MINE LIFE.

***EL SAUZ- FLEUR , SONORA****
REM*S 2014 scoping study = NPV $2 BILLION+
50 YEAR MINE LIFE [BCN Presentation]

**************250 YEAR SONORA MINE LIFE*************
Per BCN*s presentation, then, if Ventana*s 19 year mine life = $50bn value-in-ground @REM AGM or $55.9 billion @25.3.21 Fastmarkets $13,000 price [mid-price], then to give an IDEA ONLY means that it [COULD] via [HYPOTHESIS] = some $ 6 9 8 B I L L I O N ?? [check]

WHY?
It has been reported in the Mexican press that Sonora ? is 4x sovereign debt of Mexico?
Or that is being eluded to given that the major lithium "pride" is in Sonora?
So, one thinks how can it be? Surely, 4.5Mt x $13,000 [mid-price @25.3.21] = $55.9 Billion cant equal 4x sovereign debt?

Hence, why just to gain an IDEA, one wonders how much would 250 years come to?
Ah, PERHAPS ONLY, the 250 yrs potential of $ 6 9 8 BILLION could [or may] be turning heads?
Hence, why BLOOD PRESSURE must be going up?

CONCLUSION:
REM 2014 SCOPING STUDY FOR SONORA EL-SAUZ -FLEUR
50 YEAR MINE LIFE is going to be useful going forward.
As Seeking Alpha said, it is possible REM [DL as Chairman] commissioned this scoping study to show value to REM shareholders but BCN has not produced any scoping study for this El-Sauz - Fleur per S.Alpha .

Without ANY STUDY DONE, one can forget any possible idea of anything but mere conjecture?

DL would have spoken to the consultancy doing their scoping study and therefore this study in detail would be most enlightening. I have not seen this detailed study. It may give some idea of the further potential re: 250 yr mine life potential of SONORA GREATER LANDS IE SLL??

REM ARE THEREFORE BLESSED TO HAVE THIS SCOPING STUDY @2014 GIVEN ALL THE HOO HA OVER SONORA. This report will come in useful to REM*ers going forward. For that, one has to thank the Chairman & Founder of REM for the foresight on 22.12.2014 [RNS]. The REM Chairman*s [DL] comments has indeed come to pass in 2021 as SONORA is recognised as NO 1 RANKED IN THE WORLD FOR LITHIUM etc. SO, HAS THE MEXICAN HEAD, GOVT reading from press reports in the last few days. Analysts are worki

Part 2:

**** SONORA LITHIUM LTD [SLL] NPV ****
VENTANA [BCN 50% -GANFENG 50% ] - NPV $1 BILLION +

SONORA EL SAUZ - FLEUR [SLL]
REM 30% JV - BCN NOW 35% - GANFENG 35%

REM SCOPING STUDY 2014 OF EL SAUZ - FLEUR
NPV $2 BILLION +
[Independently commissioned and funded by REM @Lenigas, Chairman]
[Seeking Alpha said BCN did not commission a Scoping Study for El-Sauz-Fleur and that
it indicated that REM plc wanted to show the value of their JV]

****SONORA 250 YEARS OF MINE LIFE PER BCN****
NPV WOULD COME TO $ 1 0 . 2 4 BILLION for 250 year mine life [forecast hypothesis if one uses the REM scoping study 2014 of 50 years = $2 bn+ which is more conservative than Ventana 19 yrs =$1bn NPV just as an example ONLY to lend perspective ONLY.

--GANFENG - BCN, FEB 2021---
Ganfeng bought 50% of SLL at some $50m +.
It would or could imply that they paid 0.1 % [ ONE TENTH OF 1%] of the old In-The-Ground value of $50bn @REM AGM ?

If it is grossed up to 100% to see, it would be 0. 2 %.
[LITHIUM M & A- not seen in recent yrs by myself but usually in mining circles, it is usually5% or even less is around 2% in leaner years. BCN - As far as I can recall, there has been no valuation report for the sale of the 50% to[SLL]??? So, it would be of interest to read such a valuation for educational purposes and experience??

Page freezing so have to end and start Pt 3.

==="SONORA LITHIUM LTD [SLL]===

243.8 Mt
4.5 Mt Lithium Carbonate Equivalent [LCE]."
Ref: "Top 10 lithium mines based on reserves."-Mining Technology, 30 Aug 2019, Updated 4 Dec 2020.
[Note: Sonora Lithium Ltd refers to the Greater Sonora Lands of El-Sauz-Fleur in which REM has a 30% stake and BCN 35% and Ganfeng 35% due to the Feb 2021 Upgraded JV.]BACANORA

****BACANORA LITHIUM 7 JULY 2016 RNS*****
Refers to the upcoming DFS for Ventana [88% of 1st Stage mine feed] etc.
Therefore, the 4.5 Mt of Lithium Carbonate EQUIVALENT = VENTANA ONLY & NOTHING TO DO WITH REM plc? Mining Tech appears to mean Ventana for the 4.5Mt LCE also?

*****VALUE IN THE GROUND 2021 *****
4.5 Mt of LCE X US$13,000 [Fastmkts below dated 25.3.21 at mid-pt of $12,998-$13,752] ?
== U S $ 5 8 . 5 BILLION vs $50bn @REM AGM per 1 poster yonks ago.?

--**** SONORA LITHIUM LTD [SLL] 2 5 0 YEARS OF POTENTIAL LITHIUM*** ---
This is from the Bacanora Lithium Presentation and clearly stated.
Map shows Ventana [BCN] 19 years mine life.
Map shows EL SAUZ - FLEUR [SLL] - 50 years.
Rest means =1 8 1years.

How big is this? No 2 RANKED Thacker Pass , USA has a mine life of 46 years. PERSPECTIVE?

contd.

Please see my post on REM EL-SAUZ -FLEUR SCOPNG STUDY 2014 from REM, 22.12.14 RNS.

SEEKING ALPHA [my post below with link] is W R O N G.

The EL-SAUZ -FLEUR NPV @ 8% DISCOUNT IS US$2.033 BILLLION AND NOT $1.124 BILLION as quoted by Seeking Alpha.

I checked the actual REM plc RNS of 22.12.14.

Please see my post on KDNC.PL of today, Sat, 27 Mar 2021 which gives the CORRECT NPV.
REM PLC OWNS 30% OF SONORA LITHIUM LTD [SLL]
BCN OWNS NOW 35%
GANFENG OWNS 35% as a results of BCN-Ganfeng SLL 50% 50% JV dated Feb 2021.

Sat, 27 Mar 2021
DYOR. Please check.

REM 2014 SCOPING STUDY ON EL-SAUZ - FLEUR, SONORA, MEXICO

NPV US$2.033 BILLION @8% DISCOUNT

My Comment:
Just realised that an UPDATED SCOPING STUDY could be done given the lithium carbonate prices have almost DOUBLED+ as at 26.3.21 vs 2014 Scoping Study price [see post below].

ALSO, THE SONORA EL-SAUZ-FLEUR BEING OPEN ON STRIKE AND AT DEPTH
- As DL, Chairman, REM plc said on 22 Dec 2014 RNS, there is "STILL SCOPE."
What Mr Lenigas said in 2014 has actually eventuated in 2019 as Sonora has indeed been RANKED NO 1 ON THE WORLD FOR LITHIUM DEPOSIT and hence why the ho ha over Sonora Lithium in Mexico per the news. Everyone is so fazed by this.

REM*S 30% JV SHARE OF EL-SAUZ-FLEUR SONORA LITHIUM LTD [SLL] COMES TO SOME US$677 MILLION. [idea of what 30% comes to?]

For the full project , the total NPV is US$2.033 BILLION.

As a perspective , this CAN PUT BOTH BACANORA*S VENTANA [88% of mine feed] + EMH*S CINOVEC in the shade in comparision given they both have some $1bn+ NPV EACH =$2bn+

----REM----
News, Sat 27 Mar 2021. DYOR Please check.

REM 30% JV OF SONORA SLL. - 35% BCN & 35% GANFENG [post Feb 2021 JV update]

--"-EL SAUZ - FLEUR SONORA [SLL] SCOPING STUDY : NPV US$ 2. 0 3 3 BILLION
discount rate of 8% & Lithium Carbonate price of US$6,500 per tonne.

Average total Cost of US$2,525 per tonne of LCE over a life of mine average.
OPERTIONAL CASH FLOW OF $233 MILLION PER YR.
2.75km long, 1.4 km wide & 400m wide.
Capital cost US$422m
Payback 3.3 yrs after tax & royalties."

David Lenigas, Chairman, REM plc: "Lithium deposit remains OPEN along STRIKE and at DEPTH and drilling continues on the 1/4 million acres to determine the FULL EXTENT OF LITHIUM MINERALISATION in the newly discovered SONORA clays. Potential to be ONE OF THE LARGEST LITHIUM CARBONATE PRODUCERS IN THE WORLD... Consequently, it is capable of GENERATING STRONG RETURNS FOR ALL ITS STAKEHOLDERS."

Taken from REM plc RNS, 22 Dec 2014.

---
LATEST LITHIUM CARBONATE PRICES:
"Ref: Global Lithium Wrap : Asian seaborne mkt firm on aggressive offers from China."
-Fastmarkets, 26 Mar 2021

"LITHIUM CARBONATE $12,998-$13,752 PER TONNE ON THUR, 25 Mar 2021]
[Battery grade 99.5%. "Highest in more than 2 1/2 yrs. OVERALL SUPPLY OF LITHIUM CARBONATE IS STILL TIGHT..."

My Comment:
I decided to counter-check and Seeking Alpha got the wrong figures for El Sauz - Fleur SONORA NPV.

I found the ORIGINAL REM RNS, 22 Dec 2014 and the NPV is US$2.033 BILLION.
From other places, REM plc COMMISSIONED THIS EL-SAUZ-FLEUR SCOPING STUDY WHICH WAS INDEPENDENTLY COMMISSIONED AND FUNDED BY REM PLC.

That appears very astute now, in Mar 2021 when the news in Mexico is all about SONORA lithium. As Mr Lenigas said in his RNS above, there is STILL SCOPE GIVEN THE DEPOSIT IS OPEN ON STRIKE AND AT DEPTH?

By the way, I also found a BCN RNS of 22 Dec 2014 and said it "commended" the independent study commissioned by REM plc but could not comment. BCN NEVER DID A SCOPING STUDY ON EL SAUZ-FLEUR nor commissioned a similar study.

PER THE INDEPENDENT REM PLC SCOPING STUDY: NPV $2.033 BILLION @8% discount
appears BIG compared to EMH & BCN*s VENTANA [88% of mine feed] at $1bn+ $1bn+.
I have NOT checked the exact NPV of EMH & BCN because they had several updates from recall?

---REM HAS 30% JV OF SONORA LITHIUM LTD [SLL] - EL SAUZ-FLEUR , SONORA---
[BCN*s stake is now 35% and Ganfeng 35% of SLL after the Feb 2021 JV update]

This is really useful now especially at this time-REM*s place at the table is now no longer 30% vs 70% BCN but almost equal to BCN*s 35% and Ganfeng 35%.

Please check.

News, 27 Mar 2021 [Sat]
Now, folks cant tell REM-KDNC to jog along as there has been an Independent Scoping Study done on the El-Sauz- Fleur SONORA concession for the benefit of REM plc shareholders and thanks to DL for his foresight or else there would be no idea of perceived or other "value" idea.

REM ISSUED A "EL SAUZ - FLEUR" SCOPING STUDY.

Ref: Seeking Alpha, 25.12.2014
https://twitter.com/DkOkenia/status/548412886927032320 26.12.2014

Quote from Seeking Alpha:

"Impressive El-Sauz-Fleur SCOPING STUDY - NPV $ 1. 1 2 4 BILLION."

Seeking Alpha said that the above scoping study was issued by REM plc :
"to indicate F U T U R E VALUE of this project to REM shareholders."

---
My Comment:
I just located this and so, it is helpful given SONORA Lithium Ltd [SLL] is in the news in Mexico.
Even Argentine is going on with its lithium and so is Bolivia. So, lithium is very much in the news.

REM*s 30% JV with SLL [Bacanora 35% Ganfeng 35% from BCN 70% prior to their JV update]
of NPV $1.124 BILLION is insightful given many want to know THE VALUE?

As a perspective, EMH*s Cinovec has an NPV of $1.10 BILLION & IRR 28.8%?
As a perspective, Bacanora Lithium has an NPV of $1.25 Billion & IRR 26.1%?
REM SCOPING STUDY: EL SAUZ-FLEUR NPV of $1.124 Billion.

27.3.2021

I have just located the " EL S A U Z & FLEUR " SCOPING STUDY 2014.

This is the REM 30% JV PART OF SONORA LITHIUM LTD [SLL], MEXICO

WITH BCN 35% [previously 70% but now 35% BCN 35% GANFENG post JV update of Feb 2021]

https://seekingalpha.com/article/2778305-bacanora-minerals-its-new-roasting-method-will-be-key 25.12.2014

Quote:
"To my and management surprise, REM announced surprising impressive results of a El Sauz/Fleur SCOPING STUDY on Dec 22, 2014 completely out of the blue.

The after-tax NPV came in at $ 1 1 2 4 Million , IRR at 22.6% and a capex was projected to be a rather high $485 Million. This is probably an attempt to indicate FUTURE VALUE of this project to REM shareholders....the OPERATING PARTNER NOT HAVING A CLUE WHAT*S GOING ON. This is very unusual."

"Fortunately, El Suaz and Fleur ISNT THE FLAGSHIP for BACANORA MINERALS."

"ADDING EL SAUZ AND FLEUR TO VENTANA- In a more normal chain of events, it seems more appropriate for Bacanora to add El Sauz/Fleur to the VENTANA PRODUCTION later on, when MKT CONDITIONS FAVOUR AN EXPANSION."

----
My Comment:
SO, REM DID A SCOPING STUDY ON THEIR 30% JV SONORA LITHIUM LTD [SLL] of the Greater Sonora Lands, Mexico. THE NPV OF $1.124 BILLION IS VERY SIGNIFICANT AND LARGE-even EMH did not initially have a NPV of $1bn but more in the $500m or so approximately region from recall.

WHAT A FIND!!!!

News, Sat 27 Mar 2021.
Now that the Head of State, Mexico, govt, politicians, press, elites, publications etc are talking about SONORA LITHIUM, it is useful that DL LOOKED AHEAD AND DID A SCOPING STUDY TO INDICATE VALUE WHICH WILL HELP.

SO, THE REM JV 30% NO LONGER NEEDS ANY GUESSING BUT VALUE VIA A SCOPING STUDY.

By contrast, BCN*S VENTANA [88%] has a NPV of some $1bn from recall - I have not checked or rechecked yet.

--------------REM*S 30% OF A EL SAUZ/FLEUR SONORA LITHIUM NPV OF $1.124 BILLION IS BIG------------

Degsie asked Kiran Mozaria , CEO of KDNC how much is the SONORA JV worth. I saw Degsie*s post on the main forum not so long ago. Degsie said that Mr Mozaria told him that its in the X year accounts of some $105 or $103m from recall? I dont have the exact figure as I did not take it down as a note. But Mr Mozaria said this is with the BCN stake.

REM 30% SONORA [SLL, Greater Sonora Lands]
DL is said to have commented that the REM 30% can be sold separately without BCN approval kinda of thing. I think I hear this years ago ie in the days of REM plc. This is in the agreement REM agreement? I do not have the notes with me or the reference to check as that is now more than yonks ago.

Point is: If the Mexican govt loves SONORA [SLL] with its 250 years of lithium potential, then maybe they could buy it or are interested in buying it???? REM is not mentioned in the recent news relating to "speculation of mining concessions" as from the Head of State, Mexico etc per the news 2 days ago. REM HAS NOT IN ANY WAY OR FORM SOLD THEIR CONCESSION SO HENCE NOT MENTIONED only the other party/ies per the Reuter article?

Bannor would like REM Sonora sold from his posts? If so, then maybe that would be what REM*ers want? Or KDNC*ers want? I dont know what is their latest views? Bannor I recall said he wanted $150m? So, the KDNC SONORA value has to be RE-VALUED ?

Of course, one needs to ask DL himself again given he signed the REM-BCN AGREEMENT ON SONORA [SLL]? Only he knows the ins and outs given he was in touch with Orr Ewing of BCN?
It was DL*s project and the SONORA LITHIUM was the project that was REM*s business from Day 1 after the reverse take-over of a shell.

Just to clarify - Sonora outcome @REM?

I cannot give warranty to what the fine print of the REM agreement as that has to be checked again?

Sat, 27 Mar 2021.

Exactly, Observer842.

Now, you are putting on the business head to this.

There is a commercial angle to this.

From what I posted earlier, it was said that BCN share price went from £1.3 to £2 straight away. Elsewhere, I also read that REM*s share price also jumped.

Yes, its now- we need to know from BCN.

Question goes like this:
Mr Sec: Mexican press has been discussing your co in relation to T^. Can you confirm?
Can you comment given that Mexican press is all over this now and even up to HEAD OF STATE MEXICO, HEAD OF STATE BOLIVIA have met to discuss LITHIUM & ...

Mexican press, publications, journo*s etc have been to SONORA and Ventana and it is a hot topic amongst MEXICAN POLITICIANS, London mining analyst No 1 firm etc.

SONORA IS THE HOT TOPIC NOW - can you comment specifically on the Tesla story and confirm or deny?

Can you update us on the status of Sonora and whether you have been SPEAKING to the MEXICAN GOVT, HEAD OF STATE ETC?

Can you update us on the potential legislation etc?

Yes, its time for an update on "SOCIAL MEDIA COMMENTS ETC."

Quite normal actually - most co*s do issue RNS*s relating to "social media comments or news in publications etc?

So, we are on the same line of thought -THE COMMERCIAL ANGLE AS ALWAYS WITH ME.

Sat, 27 Mar 2021.

Sorry for typo*s - not sure why me becomes my?

So, let me repeat that REM*S 30% IS OF INTEREST [English understatement] if Mexican Head of State, govt, politicians, publications, press, elite etc are discussing it intensely.

BCN now only owns 35% of SONORA Greater Lands [my term] or SONORA LITHIUM LTD [SLL] and 35% to Ganfeng, post Revised JV. REM STILL OWNS 30%. That is why it is of interest. Mexico is talking about SLL. [BCN no longer own 70% of SLL vs REM 30%]. REM is in the official agreement - REM Mexico and signed by DL.

Sat, 27 Mar 2021. Kindly check [means DYOR]

Observer842
That is better- QUALIFY.

TIME FOR A FRANK DISCUSSION:
Ivybush has posted given others asked him for his comments. Ivybush ended his post below with: we have an excellent investment in our Sonora JV.

True, but what does it mean?

Well, for that reason I posted what is being discussed in Mexico, right up to the Head of State, govt, elite, press etc They are literally going quite ....given it was stated in their press that SONORA etc is 4 times their sovereign debt.

I dont know about BCN folks since they appear passive. My and Barksy1 are more active - yes, we take an interest and if it is quite critical, we let DL know via open Twitter.

DL takes an interest and will reply if he can or can move quickly and unlike quiet CEO*s/Chairman, one knows what is going on.

I have just been to Twitter and they are still on about SONORA and that is how hot a subject it is given that its turning heads from Head of State, Mexico, govt, politicians, director of press, press, elites etc over SONORA, yes the 243.8Mt Sonora, Ranked No 1.

Maybe, the answer to ivybush*s comment is that folks may not know what SONORA means even ranked No 1. If they did, I have not read it or missed it.

So, I now wait to see what the MEXICAN GOVT is going to do next? They said they have analysts on to it and politicians are discussing it. SP Angel has also commented etc. Secker also commented.

YAH, IT IS IMPORTANT - OUTCOME. YAH, IT IS ABOUT SONORA, not Ventana that they are only discussing , hence why I posted the video taken by the Director of Puenta via his visit. THIS IS GRABBING MEXICAN ATTENTION HENCE WHY MANY JOURNO*S HAVE POSTED STILLS OF SONORA, VIDEO*S & PICS OF VENTANA BEING CLEAR UP.

So, yeah, 30% REM JV SONORA GREATER LANDS IS IN THE NEWS IN A BIG WAY.

So, yes, WE NEED TO KNOW.

Sat, 27 Mar 2021.