RE: Hold the line4 Mar 2020 22:01
As long as Li market continues in the ashes none of the low grade hard rock reserves in Europe will get a DFS thumbs up. Since the 2018 bust, it's difficult times, even for the far more efficient brine projects in South America. Ever thought about DA just sitting this out, waiting for a new lithium spring? He's in the same boat as the Portuguese government, coming up with ever new reasons on why they are still delaying their lithium exploration tenter, announced since 2018. The first questions here is thus, how long can you and DA hold your breath, while taking daily punches of bad news and shares in constant descent?
Second, and for me as a Portuguese far more interesting question is: EIA and DFS approval aside, how will SAV claim access to the subsurface? Most part of the projected pits of the first stage sit on common land ("baldios"). After a displeasing exploration experience with SAV, the local community and the commons council have revoked their acquiescence for any activities on the commons. Gonna buy them out? Could be a tough one, as there are hundreds of stakeholders. Expropriation with a little help from the socialist superiors? Definitely "here be dragons" land in legal terms with uncertain results after a lengthy process, probably up to the European Court of Justice. If I had skin in the game I'd certainly question close-lipped DA on this one.
While you're waiting for your jam of tomorrow, you may enjoy the documentary below on the situation on the ground. I'm already enjoying my popcorn today.
https://www.arte.tv/en/videos/084753-008-A/re-a-village-under-siege/