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Hmmmm!

Barksy1---------yah-------------yes--REM, REM go go.

DL is no Dxxx - he was smart. Oh Mr I wanted DL to buy another 19% but it was too expensive.

That is also clever.

I figured out some time ago that DO NOT GET IN TOO DEEP - once REM gets 49%, it has to find 49% of capex etc and STILL IS NOT THE OPERATOR. The operator has to have 51%, that extra 1% to be the operator. The operator CALLS ALL THE SHOTS.

Oh, my did they catch a BARRACUDA.

What people are having an OVER-THROW SITU FOR LITHIUM AND HERE, IT WAS GIVEN FOR pence to the £--------------ah, dear me.

I need to sit down.

With the greatest of respect obs, this is where I have a different view given what Goldman Sachs has stated. Brazilian iron ore is coming to market and for this reason SUPPLY is increasing = $$ price has to come down.

I think that area best be left to the time when things have settled down and one can see one*s way clearly.

However, for now, IF THE JV goes to 50kt per Secker in the Crux Investor video, 3 wks ago, it means that it has to reach the JV lands?

That is also another day.

eyeguy has run to another lithium project in Mali. It has 21Mt of lithium. The Zimbabwe lithium project that DL once adviced is also 21Mt of lithium. Next door to this said lithium project is another one that is RANKED NO 9 from recall or 10. They are going to SPIN out this lithium project into ANOTHER ASX co as INVESTORS ARE VERY KEEN ON PURE LITHIUM CO*S , not mixed with gold etc.

SUFFICE TO SAY, BCN NO WONDER CANNOT COMMAND A HIGH MKT CAP? How can it? It NOT ONLY NO LONGER HOLDS 100% OF VENTANA [88% to be mined] but BY EXTENSION GAVE AWAY THE NEXT STAGE 2 LICENCE AWAY FOR US$50M+ IE 50% TO THE JV PARTNER.

All those that hold 100% of their LITHIUM DEPOSIT LIKE THACKER PASS, RANKED NO 2 AFTER SONORA [BCN] AT NO 1, have a MKT CAP OF $2BN + [2 projects]. Thacker Pass, No 2 ranked has only got a KEY permit but NOT ALL PERMITS which means that it is not 100% DE-RISKED YET in Nevada. Plus Lithium americas has just raised $400m which may not be enough for the rest of the project as its usually just for the initial part of capex.

My WORD!!! What can I say???!!!

What a bluXXder!! What a DISASTER!!? NO WONDER WHY BCN FOLKS ARE HOLDING THEIR HEADS IN THEIR HANDS!!! THEY ARE TRYING TO LOOK FOR ANSWERS AND LOOKING EVERYWHERE. Oh my.

I also figured out the DL, REM Founder and Chairman was smart to take 30% JV of the greater licence area in Sonora, RANKED NO 1 IN THE WORLD FOR LITHIUM.

That is the bigger part. He let them do the financing etc for their part 1. THEREAFTER, BCN-REM LICENCE AREA IS DE-RISKED and has a PRICE DISCOVERY factor to it + proven after a lithium plant is set up.

Well, Bolivia- they are so desperate until a over-throw event -just for the lithium per the news report, how much more for SONORA?

NO WONDER THACKER PASS IS NOT GOING TO JV-LITHIUM AMERICAS*S HOLDS 100% AND WALL STREET IS THROWING MONEY AT THEM. PIEDMONT IS ALSO RAISING TELEPHONE NO*S.
THE MKT CAPS ARE INTO TELEPHONE NO*S.

Poor folks over at ...they are asking why is the mkt cap this and that for such a big deposit?

Ding dong.

Ah, yeah cos Ganfeng NOW own 50% of Sonora BCN.

And by EXTENSION, it means that the NEXT JV LAND [BCN-REM] is now 35% REM, 35% BCN & 35% GANFANG.

Oh, dear me!!!

= AS I SAID IT WENT CHEEEEEP!???

CHECK-MATE!

I need to sit down.

BARKSY1 said its NOT going cheeepp-- but BCN sold theirs CHEEP from your link and info???

Oh my.

Yes, I did figure that out ie the UNSHADED PART is NOT or not covered by any study. It was obvious.

OK, ITS BIG.

THE MEXICAN GOVT IS GOING GA GA OVER LITHIUM as they want to be a SUPER-STATE IN LITHIUM MINING.

So, Ganfeng or whoever LITHIUM JV PART [BCN-REM] GOES TO WILL HAVE TO TECHNICALLY BY RIGHT PAY NOT JUST 1 LUMP SUM LIKE US$50M FOR THE WHOLE LICENCE BUT THEY MAY HAVE TO PAY FOR 19 YEAR MINE LIFE x Y?

Anyhow, I am wondering if KDNC is going to let this LITHIUM BOOM PASS THEM BY?
Cos its ALLLLLL S I L E N T on lithium?

Litchfield-no sound?

MrC doesnt want to talk of REM but the BCN PRESENTATION you gave a link to does not ACKNOWLEDGE KDNC but REM plc which is DL*s work.

Just looked.

20kt to 50kt is 3 TIMES?

I have now figured it out for myself.

The blueish green part: BCN - R E M stated 50 years.
The unshaded part is not yet marked out-this will be 250years minus 19yrs [BCN/GANFEND], minus 50 years.

So, possibly, the next JV will be for the shaded part ie 50 year BCN-REM.

Interesting that the CONTRACT AGREEMENT WAS WITH R E M plc with evidence.

So, that will have to go next if there is ever a JV in the future as the FIRST part to develop.

News, Wed, 24 Mar 2021.

Yup, clear to me. So, not ALL 1 BIG CHUNK.

P.S.

For clarity, I have just seen that the SHADED BLUEISH GREEN PART IE BCN -REM IS FOR 50 YEARS.
It does not give the no of years for the UNSHADED PART which is ALSO BCN-REM LICENCE AREA but it says 250 years in the earlier presentation from BCN.

24.3.21 [Wed]

LOL - Page 10 Key said: "BCN - R E M."
That is the blueish green shaded part.

Yes, I could clue that the UNSHADED PART is also BCN-REM as it shows the licence lines.
IT SAYS 100,000 HECTARES. That*s MORE like it, NOT JUST 7KM.

I ALSO SEE 250 YEARS - LIFE.

QUESTION:
HOW CAN THE NEXT JV [IF] PAY THE SAME US25M + $25M FOR 50% on the JV LANDS GIVEN IT IS N O T GOING TO JUST LAST 19 YEAR BUT 231 YEARS [250 minus 19]?

So, logic says that it will have to go 19+19+19+19 AND SO FORTH UNTIL IT REACHES 231 YEARS - HOW MANY PLANTS IS THAT GOING TO BE?

HOW LONG WILL IT TAKE?

NO ONE CAN LIFE ANOTHER 231 YEARS and even that one has to WAIT 8 YEARS INTO STAGE 1 PRODUCTION AT BCN*s GANFENG JV?

Still NO ANSWER?

Thanks. Rec.

Wed, 24 Mar 2021.
By the way, KDNC*s Litchfield may not have been owned by Core. The Basin may be outside Finnis project which means a different part to the Basin.

Thanks to Leosayer.

Interestingly, the 1500m alson COINCIDES with STRAITS RESOURCE*S DIMENSION OF 1,500m x 1,000m.

However, earlier, XTR gave 1,000m x 1,000m PRIOR to this East-West event as you relate from Mr Bird*s interview.

Wed, 24 Mar 2021.

So, post David Lenigas, is KDNC still interested in LITHIUM or is that now on the back burner?

There is Litchfield, Northern Territories, Australia and Core Lithium is looking to invest nearby but no sound from KDNC-REM even though they are next door.

Kiran Mozaria, CEO, KDNC-REM in his latest interview said, we dont make much of it.
How sophisticated an answer. I take it to mean we dont boast about it or shout from the roof tops. That is THE project now in Australia as THE NEXT LITHIUM PRODUCER in Oz : LOWEST COST, LOWEST CAPEX, HIGHEST GRADE IN AUSTRALIA, CLOSE TO PORT AND BOUND FOR ASIA.

Capex - A$50 or A$80m from recall, a ridiculously cheap price. Most lithium projects, even cheapest is US$400m + and for bigger plants, one is talking $1b+.

So, its not PRICE SENSITIVE TO ASK IF THE STRATEGY IS STILL LITHIUM which DL, the Founder set on as a strategy.

I was reading about AOU [KDNC used to own a %] - they had a copper or nickel strike in Australia. I have not checked up yet but I saw the headline from on Twitter.

24.3.21 [Wed]

IVYBUSH

If you are still in KDNC, could you kindly look at REM? Oberver842 has replied to my post and I think we need another head to have a look?

Thanks.

Wed, 24 Mar 2021.

@observer842
So, you think that 7km of contigious lithium [per NI43-101] will last for 250 years or 231 years [JV part] of Sonora??

The 250 years for Sonora lithium has been plastered EVERYWHERE but it is NOT elucidated by BCN as to how this is or what is the component of this STRIKE?

By way of a lithmus TEST, THACKER PASS, RANKED NO 2 [Nevada owned 100% by Lithium Americas] will ONLY LAST 46 YEARS at a lower MT , below Sonora.

SO, THIS IS THE MYSTERY - SECKER*S INTERVIEW 3 WKS AGO WITH CRUX INESTORS did not ENLIGHTEN further on this or WHERE the next production/S is going to take place.

The point is, IF when it comes to the JV lands at Sonora and a potential JV partner were to PAY JUST FOR another 19 years, then KDNC -REM could be waiting FOREVER? OR WORSE STILL, THE NEXT POTENTIAL JV ON THE KDNC-REM 30% LAND IS TAKEN FOR THE WHOLE PART I R R E S P E C T I V E of the 231 YEARS!!!!

On BCN, they are also asking and even via investigations, NO ONE ANSWERS.

Apparently, from the article I have read, the MEXICAN GOVT IS DEAD KEEN ON THE LITHIUM RESOURCES , so much so they are worried about the cartels [gangs].

Secker said in the article that he will use CIVIL SECURITY GUARDS NOT SOLIDERS. Soliders? My that sounds serious - govt must have proposed that to Secker?

Bolivia- I cant give the title as its too...um but suffice to say its over-throw for the lithium?

See, everyone is chasing lithium.

Secker said that if co*s are not into lithium in 2021, they will NOT BE READY then.

Pity they didnt go alone or else their BCN mkt cap could be like LITHIUM AMERICA*S @$2BN +, 2 projects ie Cauhari, Argentine and Thacker Pass which will go into production in 2024. I believe Thacker Pass has just got a KEY permit but not ALL PERMITS and have just raised $400m initial money recently. Even then, to buy ROYALTY AT THACKER PASS COST A UK AIM CO £16M. Royalties are usually 2.5%.

Hmmm!

News, Wed 24 Mar 2021.

Not sure about other people but it would stun any normal person to read in so many reports that they are fighting over Bolivia*s lithium, even an over-throw as being reported?

So, how much more is SONORA not relevant to lithium given it is RANKED NO 1 in the world and can "COMPETE WITH ENTIRE COUNTRIES."?

So, no wonder that investors are chasing LITHIUM investments these days.

Wed, 24 Mar 2021.
News.

Least but not last:

When I first came to this XTR forum, I quoted from XTR*s Apr 2020 Presentation and it went like this:

Tooday with their geophysics etc [rest of the technical stuff like EM etc] said that RACECOURSE C L U S T E R S are SIMILAR to CLUSTERS AT CADIA-RIDGEWAY, NEWCRESTS JEWEL which is also Australia*s LARGEST DEPOSIT.

Most folks on here talked of the African assets but they were kind to let me get on with Bushrangers which was a new project for XTR.

Fast forward, Mr Colin Bird said in his latest interview [Tues, 24.3.21 re: Hole 6 Racecourse] that his "GEO*S GROWING IMPRESSION IS THAT THERE ARE MULTIPLE PORPHYRIES."

Mr Bird has mentioned "BUSHRANGER CLUSTERS BEFORE" akin to diamonferous clusters wherein they could be mineralised as norm?

If so, that will be of interest if AA*s agreement is only for Racecourse -Bushranger and XTR go on with the other CLUSTERS at Bushranger?

Perhaps, Mr Bird will elucidate further.

Pardon my typo: should have read elucidated in my last post, not elucidate.

Wed, 24.3.21.

Sq52

Snap, out posts crossed. Thank you for the excellent answer.

Scoping study for Racecourse is 0.2% cu if copper is US$7,500 and 0.15% cu copper if US10,000. Currently, copper is US$9,000+. 0.2% & 0.15% is the CUT-OFF = ECONOMIC.

IS RACECOURSE NORTH, ALSO UNDER THE SAME LICENCE AREA UNDER THE AA AGREEMENT?

I assume it is. Tooday stepped out 100m NORTH OF RACECOURSE and found it was IN MINERALISATION.

This may be the GAP part between RACECOURSE AND RACECOURSE NORTH.

So, appears to be MORE TONNAGE TO COME. As sq52 elucidate, the TONNAGE lessens costs! A big PLUS FACTOR in overall economic of the project as is commonly known.

24.3.21

P.S.

If the answer is Yes ie AA *s option covers Footrot, then there may be even MORE COPPER to be found.

After all, its TONNAGE that typifies porphyries which majors are interested in.

The school that said yes, cited the licence application ref.

Mr Colin Bird, Executive Chairman, XTR mentioned about Footrot,not only in earlier interviews with Sharetalk but one not so long ago.

After Racecourse, one wonders if XTR will go on to Footrot at Bushrangers?

Footrot has also been drilled by AA and they have also reviewed previous results.

In the recent interview, Mr Bird said that his GEO*s "growing impression" is that there are MULTIPLE PORPHYRIES at Bushranger.

Mr Bird also said in his recent interview prior to yesterday that to the WEST AND EAST OF RACECOURSE, they hit NEW PORPHYRIES?

So, does AA have an option over Footrot? Two schools of thought: one said No and one said Yes.

Wed, 24 Mar 2021.

Answer:
Phase 1 was originally 3 holes to be drilled under XTR to upgrade the JORC at Racecourse at 71Mt @0.44% cu and 0.064g/t.

Now, Racecourse is at HOLE 6 currently.

Wed, 24 Mar 2021.

Ref: "Why you should not expect any white gold rush in the wake of Morales over-throw."
-15.11.19.

The article is about lithium ie white gold and it said that Morales flew into Mexico. It was said that Bolivia*s has the "BIGGEST LITHIUM RESOURCE GLOBALLY [USGS] and that lithium eq is 21.1 Mt. It was also reported in this article that Bolivia is "in no hurry to develop the country*s resources."

So, to date, there is still no news on the lithium resource but there is an outstanding German legal case given they were told they could participate?

Anyhow, an overthrow due to lithium is what is reported in many articles?

SONORA LITHIUM, MEXICO
No 1 ranked at 243.8 Mt = 4.5m.
Drilled and financed by REM plc although BCN owned it initially but later transpired to a JV for Part 2 of the lands at 30% for REM.

In my post below, it was said that "SONORA RESERVES COULD COMPETE WITH ENTIRE C O U N T R I E S." Hence, why I brought in the info about Bolivia and how their lithium is being "FAUGHT OVER" [mildly put]??

Coming to the NI43-101, BCN said the STRIKE is 7KM of contiguous lithium.

I stated that Lithium Americas*s THACKER PASS IS RANKED NO 2 but has far less than Sonora and even then it will only last 46 YEARS.

So, either Sonora is of slightly HIGHER GRADE or THE DEPOSIT IS SO LARGE DUE TO THE ACREAGE. So, I am wondering how 7KM CAN PRODUCE 250 YEARS OF MINING which BCN quoted or told many pubications.

So, one does wonder if it means that SONORA where REM HAS THE JV IS REALLY HUGE [whole acreage?] THUS IT CAN PRODUCE 250 years minus 19 years [ cos Part 1 BCN/GANFENG JV for Ventana which they own 100% but will contribute 88% of mine ore feed for 19 years] = 231 YEARS OF LITHIUM ?

I cant think that 7km can produce 250 years of lithium looking at my post below that SONORA IS 1.4 TIMES THE SIZE OF ENGLAND. Well, England is not 7km by any means. Sonora is not only the size of England but 1.4 times. THAT IS HUGE.

The 250 years that BCN [Bacanora Minerals] told or intimated to publications - please check.

BCN has never elucidate further and it is of importance to the REM JV @30% for the rest of SONORA bar Ventana, Sonora which BCN owns 100%.

Ventana itself contributing 88% of the BCN/GANFENG JV WITH 19 YEARS OF LITHIUM IS NOTHING COMPARED TO 231 YEARS AS REPORTED I F C O R R E C T.

For completeness, Ganfeng paid some US$25m x 2 for 50% [total some US$50m] share of Sonora Ventana [BCN now only owns 50%]?

Just info. Please check.

News, Wed 24 Jan 2021.