George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
Indeed, Goodbody.
Also noteworthy are:
1) A few key Ugandan mining officials accompanied Blencowe representatives to China in August to observe how the graphite testing at Jilin Labs was progressing.
2) It is certain Chinese graphite manufacturers that have global commercial IP for SPG production for EV batteries. If Uganda is to develop SPG downstream processing, surely it will be with a major Chinese input, technically and financially.
I do think Houston will have a problem on Oct 2nd if there's no reasonable explanation for a delay on testing into October, or no test results for September.
But, as they say, the oil and gas aren't going anywhere. They are still there, just not quantified still. That's what every man and his dog need to know, for validation of the sterling work undergone to date (but always lagging initial timelines).
... unless they've already been pre-sold.
TThe September 3 rns, Bulk Sample Completed, mentioned in passing the next important step in the value-add of Orom-Cross graphite, name reaching a 99.95% purity SPG product:
"Mr Pearce added: "We now have proof we can deliver a very high quality graphite concentrate from Orom-Cross on a commercial scale, which is a key DFS milestone. In parallel we are testing the upgrade of this concentrate to uncoated battery-ready 99.95% SPG (spheronised, purified graphite) and expandables as the next important step to significantly value-add our end products."
This milestone, once achieved and RNSd, will light up the MC of Blencowe. Some investors (and Chinese battery manufacturers) will not accept what Orom-Cross has to offer until validation is demonstrated. This is what is still holding back the sp, IMHO.
What price SAVE shares, if the SS deal doesn't go through, and we wait until June 2025 for the Chad arbitration decision?
@Keith, there does seem to be an element of uncertainty about placing the next drill, MOU-5. Three possible drill locations, 250m deeper than expected at MOU-4, earlier seismic interpretation proving to be incorrect....
All in a gelogist's day's work, or something we might be concerned about?
....if the Chinese don't make a mouth watering offer first! Don't forget, it is their Jilin technical lab that has done the testing so far, and who will confirm the SPG grade graphite up to the allimportant 99.95% purity level. They are on the inside track here. They will be offering the oftake finance in the first instance, imho.
I suspect that the second DFC payment of $1mn, expected shortly, will be on confirmation Bres graphite can deliver an upgraded SPG of 99.95% purity.
I further believe that MR is visiting China to meet with serious Chinese industrial counterparties who might be willing to engage in offtake agreements, which are key to progressing the whole project beyond the DFS.
Seems obvious to me that at that lowly sp level, the best, meaning least dilutive way of financing their part of the project is via an offtake deal rather than yet another placing. So that announcement, when it comes, should be the catalyst for a sustained sp rise as part funding of the DFS by the DFC won't do it by itself, however important it is for credibility.
Very happy with that.
US and Chinese involvement not mutually exclusive.
DFS likely to be finished by end-2023.
Decision to invest H1 2024. First production targeted for 2025.
Full steam ahead folks.
I wonder if certain well connected people inside Exxon knew what was likely to come in Chad down the road and were more than willing to set up Save as a sacrificial lamb to the slaughter, so to speak. Funny how Exxon got out just in time.
Finally a reply from the company.
I will not divulge the contents but suffice to say, I feel most reassured by the general tenor of the message. Could be wrong, but that's my feeling. I remain a solid LTH and at these prices, it's a real bargain assuming events play out as we hope and expect.
GLA
And AECO gas?
Excellent update, Avacta. But still the little matter of cash funding before too much longer, to sort out.
"Why don't you email him?"
I did, but no reply yet. Silence is deafening.e.
The wording of the original rns regarding a strategic funding partner, on April 23rd 2023, suggested that a completed deal was a ormality:
"Blencowe Resources Plc ("Blencowe" or the "Company") (LSE: BRES) is pleased to announce it has passed the key Screening hurdle within the DFC in order to move forward to secure a substantial Technical Assistance Grant.
The process now moves to a Grant Agreement and other final requirements to complete this funding solution. The TAG under consideration for Orom-Cross is up to US$4.5M for costs associated with the Definitive Feasibility Study and the terms are considered advantageous to Blencowe as any repayment would only occur if and when the project goes into production at a future date. The TAG provides for DFC to pay 50% of agreed costs within the Orom-Cross DFS, with Blencowe to provide the remainder."
If you are reading this, Mike R, you need to come clean with shareholders about the ongoing silence about the DFC deal completion. What are the outstanding issues, if any? Are you working to a specific time line for completion?
Not one, but three, new posters today.
But same old....
Tick tock.....
My next thought, and I suppose I'm not alone with this, is the extent to which this severe seismic activity, albeit 1000km away, might affect the known seismic data and interpretation at Guercif.
More than 600 dead, according to the BBC News. Truly shocking. My heart goes out to their families and loved ones. I expect there was absolutely no prior warning.
Not to mention general price inflation of everything since the DFS was produced. Piedmont made a very smart deal, fixing their contribution in $ terms rather than %.