Member Info for NoEasy

Great update Piltick, and here was me thinking you and DPYC could have a day off on Christmas Day. Sorry guys :-)

Hms it could have been a subsea xmas tree just to take your bewilderment a bit further (sons an engineer/designer who works in the oil industry on such things).

You're right Hmn, some dips are the just the start of a bigger dip but I've every confidence with the value going forward in relation to ADV.

So they had to replace the tree which they weren't expecting and also a downhole component failed to function at the later stages of the Skua-10 activity. There you have in a nutshell why the rig movement dates were put back initially and then again at the last moment. Would have been an impossibility for CVN/ADV to put out any other messages on rig expectations than the ones they did.

There's more magic money trees on this board than I care to remember. Simply got to buy the dips on this one.

Way to go JSE, glad for you and your shareholders you have sorted the problems you had.

Managed to squeeze a few more in this morning, great having a magic money tree;-)

Good point Goldrush. VM also went out of his way to stress that particular point in his webinar namely ALL retaining the rights of the 50% not subject to the offload agreement, it is an important one when looking at future value.

A question may be whether Piedmont feel it is in their interest for ALL to secure such offtake(s) on the remaining production if, as I suspect, they are positioning for the acquisition of the CCLP as a whole. Interesting to see how that plays out.

All told its early days for me here so still trying to get my head around it all but it does seem to me that VM has negotiated the deal with Piedmont extremely well particularly as there is a very significant upside to the project.

ATB and have a good festive season.

The CEO made clear in his recent webinar that the company will be ripe for acquisition. This announcement simply reinforces the value of Atlantic and my forecast is that Piedmont will move to acquire us within the next two years.

The announcement states there is a 'resurgence and exponential growth potential across the lithium supply chain' and this is certainly confirmed by the Chinese company Ganfeng's move to acquire Bacanora Lithium against growing political opposition to the Chinese domination of the world's lithium resources.

So what business model did Ganfeng follow to get to the offer stage for Bacanora and how does that compare with our involvement with Piedmont?

Ganfeng acquired a percentage interest in Bacanora (29%) - Piedmont acquired a percentage interest in Atlantic (10%)

Ganfeng provided an initial project level investment for the development of the main lithium project at Sonora acquiring a 22.5% stake in Sonora - Piedmont provided an initial project level investment for the development of the main project at Ewoyaa acquiring a 22.5% stake in Ewoyaa

Ganfeng reached a 50% stake in Sonora as the project developed - Piedmont have agreement reach a 50% stake in Ewoyaa as the project is developed.

Ganfeng has an offtake agreement for an initial 50% of the production of lithium from Sonora - Piedmont has an offtake agreement for 50% of the production of lithium from Ewoyaa.

My view is that we are certainly following the same business model and that if their intention is to take over Atlantic in the future they will not sell of any of their shares once the 12 month tie-in period has ended but will instead increase their stake.

Time for me to build a stake here.

As a newbie here can I confirm with those who are no strangers to this stock that i have got the Piedmont deal right as chopping between IRR/ALL to establish the basics I might have crossed some wires.

'ALL have two areas of interest at this time with one bieng in Ghana - the Cape Coast Lithium Portfolio (CCLP) and the other being in the Côte D’Ivoire.

The Côte D’Ivoire project is highly prospective but has not yet commenced exploration.

The Cape Coast Lithium Portfolio has commenced exploration and consists of the Ewoyaa Lithium resource and the historic Egyasimanku Hill deposit.

The Ewoyaa has resources that are JORC compliant. The Egyasimanku deposit is not at this stage.

Piedmont has bought into the CCLP with the staged provision of $102m to deliver a DFS and take Ewoyaa to production and also to carry out more exploration in order to enhance the resource.

For this they will recieve 9.47% of the shares in issue of Atlantic Lithium as a whole.

In addition, if the full funding is provided, they will secure a 50% interest in the CCLP.

They will also secure the right to take 50% of the annual production for the life of the mine from Ewoyaa as an offtake agreement. This means they will still pay for the Spodumen concentrate at a price linked by a formula to the prevailing price at the time.'

@EnergyGEO, Or as a one liner from the CPR:

'The well is estimated to take 27 days to drill, including standard logging, plus 5 days to suspend. No core or well testing is planned.'
https://www.advanceplc.com/media/1092/risc-cpr-buffalo-23mar2021b.pdf

@Hms, Yes but unfortunately on this occasion not necessarily the same pattern as you see.

Jezza, Can't understand why Harry threw Dave overboard when Dave saved Harry from John. Am I missing something?

MT, No chance of a certain MP riding a shetland pony sidesaddle at the grand national then!

You would think that we would do the same amin given that Investor81, through some great research they shared, posted of the delay four days ago without any drama in the SP.

So much as a nothing in the project has changed for us apart from the rig arriving later than expected and that we have confirmation that the rig is working fine, a confirmation that is not to be underestimated, putting paid to any concerns that have been raised on that score.

The rig not moving isn't about placing fault it's about it being needed to finish what it started over at Jadestone.

Some posters are going to voice their concerns, not about the rig not moving, see the above, but about their expectations being raised as to when it would be moved. Seems fairly natural given LP stated in his 30th Nov announcement that he had been informed by CVN that the rig 'will' be handed over in a couple of weeks, the use of 'will', some may argue, conveying a wholesome degree of certainty. Perhaps a slip of the pen by LP, we all have them.

In the meantime I will be be looking forward to an extra spud with my Xmas dinner.

In addition they need to be fairly close to the rig as well as facing the right way.

What direction they pointing in DPYC? If we've got them all facing at about 2 o'clock I'll start thinking we may be on for the move.

Said with a scottish twang there DPYC.

According to this you're looking at about 250m out DPYC (10x water depth).
http://rigmoversinternational.com/anchoring/

Cheers Wyn.

Oh and I've been assured no one can recollect there even being a party.

Unfortunately that was down how much they had to drink at the............party!

Seen in before and will see it again. A drop that encourages sells only for a reversal and a gain. Bit of consolidation and hopefully an underlying strength being built into the SP here.

Invested on the back of the Webinar earlier this week and now I've had time to go through the previous history on this project I have confidently added more today and will continue to build a position here. Production/Take over either/or will suit me. The time until first production is good time allowing the resource to be built up and the market to demand more lithium as the market for EV's grows exponentially.