Blencowe Resources: Aspiring to become one of the largest graphite producers in the world. Watch the video here.
Production may have very well started, RNS for it not released though. This will come out between now and Fri 12th imo.
Very interesting. 2 weeks makes sense to me, enough time for Mark to interview and film (5th to 10th) and right after launch production. RNS by Friday 12th if that is the case.
I wrote to IR just to see if the company can confirm the articles content.
Yeah fair enough, but those that project managed the build have done a great job so far imo. We are now in the hands of technicians and mechanical engineers that oversee the testing, snagging and reporting. Then another performance review will be required once production starts at the agreed 60% rate. Then repeat the process to ramp up to 100% production.
Of course there are always risks and dependencies but PREM seems to have mitigated against these fairly well. And the PMs have been good at keeping the project within budget, as per scope and more or less within timeline.
I am confident we are very close to official good news.
Nice to see other fellow project managers in here that understand the steps required for such a large task.
I have been exgremely relaxed and bullish since the last RNS, using these quoet periods in sp action to top up. 1.5p is not that far away.
My champagne is ready, bring on the interviews, RNS and first shipment!
Fantastic news! Look forward to that.
Love it! This is exactly what I asked IR for last week, looks like they were already one step ahead of me. Let's go!
I see what you are all saying, but if you were in Canmax shoes, would you not want to avoid direct competitors that might force Canmax to have to outbid? And I am not convinced that GR is doing the shot calling on this point, afterall PREM would still be drilling using those 3 drills if it weren't for the Chinese money.
And I don't believe a RUS is around the corner yet exactly for this reason, Canmax doesn't need that attention around Zulu knowing they still haven't gotten what they payed for.
Either way we have a bright future here as value will still increase, i was just weighing the possibility that all this talk of other interest may just be a strategy to be used as leverage.
Anyhow, have a great day all, can't wait for news of first shipment made and to hear what the agreed price will be.
Hey Acker,
I am sure we are golden and will be fine ofc, but do you think it may be in the interest of Canmax to directly or indirectly slow down any RUS or DFS completion as this would "officialise" the quality and quantity at Zulu, therefore attracting interest from others? Would Canmax want to avoid other players in the game at this early stage so they can control the prices and narrative a bit (especially if interest is coming from the west)?
Not a deramp so relax everyone, just talking corporare strategies, PREM to the moon and all that good stuff.
Wow this could be massive! Thanks for sharing
Excellent news, thanks both
Inthstithuthions :-)
Hahahaha the new running joke on this BB
Looks like those that took profits moved these to KOD, well done on them, I should have seen that coming and could have taken advantage.
I hope PREM releases a video soon of the plant working, showcasing the process from start to finish (from the ground to the stockpile). I asked IR if that would be possible.
Have a great day all, plenty sunny days ahead. Had a drink to celebrate our milestones yesterday. Got champagne ready for first shipment, then debt payback, then RUS, then DFS etc. Boozy 2023!!
I was not around during the RHA debacle but re-reading the info on what happened it is evident that it is not comparable to Zulu. For example, RHA depended on indigenous organisations and poor power supplies from ZESA, the state power company. Now we have our own dam and will generate power for the plant and others.
Also the 2017 BARA report was way off, the Chinese got it done in half the time, for a fraction of a cost and triple the output. Plus they based their calculations on lithium carbonate and not spodumene 6%:
"Consulting expert Bara Consulting has completed a scoping study which has demonstrated a robust project with attractive economics based on two different scenarios.
A concentrate sales option would include a targeted annual production rate of 84 000 t of spodumene concentrate and 32 500 t of petalite concentrate for 15 years. It would require
$64 million to build the project, which is not an ‘indigestible’ amount considering the returns.
Bara has determined the project will have a $127 million pre-tax NPV at 10%, an 86% pre-tax IRR, an after-tax NPV at 10% of $92 million and just a very short two-year payback period. Over the 15-year period it will generate $1 billion in gross revenue (based on sales prices of $800/t spodumene concentrate and $400/t petalite concentrate).
The alternate option is to construct a lithium carbonate plant to produce 14 500 t of lithium carbonate (Li2CO3) for the same 15-year period. It would require $238 million to build and will deliver a $719 million pre-tax NPV at 10%, an 80% pre-tax IRR and after-tax NPV at 10% of $524 million and again just a two-year payback. Gross revenue of $2.9 billion would be achieved (based on a sale price of $15 000/t of Li2CO3)."
We are in a muuuuuch better position! Let's go PREM!
Are there still risks associated with this play? 100%
But let's not forget the significance of today's news, this is what we've been waiting for. PREM is making history, and if in doubt look at the sp action between Mar 2021 and Jan 2022, then look at the images of the bushy area at Zulu with those cheap small drills from 12 months ago and compare it to the beast that has been installed with all those services and resources . This year will be one epic milestone after the other.
Oh and by the way, Santa not only finished the slice of pie this morning but also the whole sherry bottle, didn't even leave me a taste.
Opening a small bottle of Piper champagne tonight to celebrate these milestone we have all been waiting for (1p and production green light).
Next bottle, the big one, is ready for confirmation of first shipment. Then i got more in the cellar for debt repayed, RUS and DFS completions.
Craig not sure what that has to do with anything but the article says "a dam is UNDER construction" so not finished yet. But it was quickly cleared as the dam can already be operational albeit uncompleted.
https://ibb.co/RNMY1DL
Bump
Sherry bottle and slice of mince pie still intact on the living room table, no sign of chimney use. Nothing on the NORAD radars yet. All systems on stand by.
Is that an AI bot speaking? Completely void of emotions and expressions lol.
Santa Claus is coming to town!