Global Lithium example11 Jun 2022 10:55
Source: https://investingnews.com.au/best-asx-lithium-stocks
"On March 3, Global Lithium signed a 10 year offtake deal for spodumene concentrate with Suzhou TA&A Ultra Clean Technology (SZSE:300309), its largest shareholder. SUZHOU TA&A INTEND TO HELP WITH CONSTRUCTION FUNDING AS WELL. In mid-March, the company released its financial report for the half year ended December 31, 2021. A week later, it provided an exploration update on its Marble Bar and Manna lithium projects. The company’s share price rose following the financial report’s release, and hit a year-to-date high of AU$2.73 on April 4.
Global Lithium’s share price has trended downwards since this peak, during which time the company announced significant high-grade lithium assays at Marble Bar, including a highlight of 3 metres with 2.5 percent Li2O. On May 19, the company mobilized a contractor to begin drilling at the Manna project."
GL1 share price: https://ibb.co/XC51J4V
Somewhat comforting to know that Suzhou will be putting at least some of the money upfront to support in construction and development. I feel they will do similar with us as they seem to be moving fast.
Interesting the fact that the share price multi bagged after takeoff agreement and then dropped quite a bit again, even after releasing results with some very high grade lithium.
But will all the current activities on the ground, i suspect we will have a busy run up to the end of the 6 month period with Suzhou. They will want to agree and secure as much of that plot they can.
This next thought is my pure speculation: following the timeline of the tweets, i think yesterday's tweet of the road, is the development of the road that goes from base camp to the area where all 6 rigs were located in at one point. Same area Dr. Wei was inspecting personally. Same area that will hold the pilot plant. That road will transport PREM's initial profits.
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