Member Info for RamonM

I am almost certain we won't hear anything on the offtake agreement before it is ratified. Ratification is key to any announcements from now onwards

True. I am not sure if Ewoyaa is one the "several pending bills" mentioned on that link and if the parliament recall will only be for a few days or if it will extend and takes us through to October's session. We shall see...

Speaker Bagbin temporarily moves parliamentary sittings to AICC Dome

https://www.modernghana.com/news/1337000/speaker-bagbin-temporarily-moves-parliamentary.html

Teddy, I'm not sure either it's only on one day or it only restarts on the 3rd sep. I guess we should find out next week...

Yes, resitting for one day wouldn't make any sense and there are a lot of key issues to work on. It is not very clear for how long the parliament will sit on any of the media I looked at

Teddy, I emailed ALL two weeks ago, I got the following from Henry Wilkinson, Marketing and Comms Manager - I hope this clarifies:

Piedmont sets out its expectations and opinions regarding Ewoyaa, which it is entitled to do, but our relationship with Piedmont is governed by a legal agreement under which Piedmont contributes financially to the advancement of Ewoyaa. The advancement of the Project is under the management of Atlantic Lithium; Piedmont Lithium has a minority interest in the Project and to maintain and increase its ownership in Ewoyaa, Piedmont is required to meet its financial obligations.

Atlantic Lithium’s focus remains firmly on advancing Ewoyaa towards production, which is still intended for 2026. We are working hard to complete all permitting approvals as quickly as possible, but ultimately it is in the hands of the requisite authorities in Ghana to issue such permits. With the exception of the delay to parliamentary ratification of the Mining Lease (we note that parliament is due to reconvene on 3 September), permitting has progressed well and we have no reason at this point in time to believe that such permitting will not be forthcoming.

IMHO, the best period to refurbish the parliament would be Nov/Dec (as the parliament would not be on). Maybe not feasible due to being the summer season in Ghana + christmas/ new year holidays

Nevertheless, I think it just shows again the poor planning skills of the Ghanaian authorities.

Based on this and everything else (such as the parliament incompetence to push forward the ratification), I would rather have no news than the BOD starting a blame game with the Ghanaian authorities via RNS, nobody would benefit from it

You would think that the Rat committee has been working on the ratification report and that this should be ready by the time that the parliament restarts?

Finally, a little light at the end of the tunnel:

https://www.fastmarkets.com/insights/lithium-weakness-pushes-chinese-producers-to-consider-output-cuts-sources/

I emailed ALL a few days ago on this subject, I got the following from their Marketing and Comms Manager:

"Piedmont sets out its expectations and opinions regarding Ewoyaa, which it is entitled to do, but our relationship with Piedmont is governed by a legal agreement under which Piedmont contributes financially to the advancement of Ewoyaa. The advancement of the Project is under the management of Atlantic Lithium; Piedmont Lithium has a minority interest in the Project and to maintain and increase its ownership in Ewoyaa, Piedmont is required to meet its financial obligations.

Atlantic Lithium’s focus remains firmly on advancing Ewoyaa towards production, which is still intended for 2026. We are working hard to complete all permitting approvals as quickly as possible, but ultimately it is in the hands of the requisite authorities in Ghana to issue such permits. With the exception of the delay to parliamentary ratification of the Mining Lease (we note that parliament is due to reconvene on 3 September), permitting has progressed well and we have no reason at this point in time to believe that such permitting will not be forthcoming.

I hope this helps."

Sprint RS, I think operating cost is $377/MT. As Teddy said, there aren't many mines with a lower cost!

Battyk, you train of thought does not make sense to me...

On your first you say it is highly unlikely that we will ever get ratification

On your second post your are saying that we will be bought out this quarter - If we will never get ratification, who will want to buy us out??

I'm very very confused

Battyk, to put things in perspective, these articles were written by Bright Simmons, the man who had absolutely no problems to lie and make false claims about ALL in Ghanaian national TV, on prime time...

Very interesting! Energy storage was around 15-20% in 2023, and it seems to be growing very significantly YoY!

Johnpwh - no hate, just factual

The first academic paper to model green hydrogen usage on an hour-by-hour basis in a carbon-neutral energy system has concluded that due to “high societal costs and practicality issues… hydrogen cannot be considered a large-scale solution for heating and transport”. Studies carried out by the Aalborg university, Denmark and issued in November 2022

So, you think solid state batteries use what instead of lithium??? Bubblegum!?

Solid-state batteries can use metallic lithium for the anode and oxides or sulfides for the cathode, increasing energy density. The solid electrolyte acts as an ideal separator that allows only lithium ions to pass through. For that reason, solid-state batteries can potentially solve many problems of currently used liquid electrolyte Li-ion batteries, such as flammability, limited voltage, unstable solid-electrolyte interface formation, poor cycling performance, and strength.[5]

Unhooked, there is a simple solution for your problem. You sell and move on with your life. No hard feelings

More from the Q10 report from Piedmont, page 23

GhanaAs of June 30, 2024, we owned an equity interest of approximately 5% in Atlantic Lithium. We have a right to acquire a 50% equity interest in Atlantic Lithium Ghana, which includes Atlantic’s flagship Ewoyaa project, located approximately 70 miles from the Port of Takoradi in Ghana, West Africa. We hold an offtake agreement with Atlantic Lithium for 50% of annual production of spodumene concentrate at market prices on a life-of-mine basis from Ewoyaa. •In July 2024, the application to grant the Ewoyaa mining lease was submitted to the Ghanaian parliament to undergo the ratification process. The mining lease remains subject to parliamentary ratification as of the date of this Quarterly Report. We expect advances to Atlantic Lithium for Ewoyaa to decrease in the coming months depending on the timing of mining lease ratification, permitting, and prevailing market conditions. •In July 2024, Piedmont mandated a financial advisor to develop a funding strategy that includes an offtake partner process to support our share of Ewoyaa construction capital and minimize dilution to Piedmont shareholders. Negotiations have advanced in Atlantic Lithium’s competitive offtake partnering process to secure funding for a portion of the joint venture’s annual production share.

Link to doc here

https://www.listcorp.com/asx/pll/piedmont-lithium-limited/news/quarterly-report-form-10-q-3067478.html

Based on my previous post, my view is that Piedmont admits they can no longer influence on the project decisions (ie, timelines for when the project moves to the next stages or not), but their reduced ownership in Atlantic Lithium has no impact on their earn-in or offtake rights on ALL/Ewoyaa project. Any thoughts?

See PLL Q10 issued today, page 15, point 3 (In connection with the sale of the shares, we no longer hold a board seat with Atlantic Lithium and therefore do not exercise significant influence). Full text below:

As of March 31, 2024, Atlantic Lithium is no longer accounted for as an equity method investment. During the three months ended March 31, 2024, we sold 24,479,868 shares of Atlantic Lithium for an average $0.32 per share. The shares sold represented approximately 4% of Atlantic Lithium’s outstanding shares and resulted in net proceeds of $7.7 million. In connection with the sale of the shares, we no longer hold a board seat with Atlantic Lithium and therefore do not exercise significant influence. Our remaining investment in Atlantic Lithium of approximately 5% is accounted for as an investment in marketable securities and presented at fair value at each reporting date based on the closing price of Atlantic Lithium’s share price on the ASX. See Note 9—

Other Assets and Liabilities. Our reduced ownership in Atlantic Lithium has no impact on our earn-in or offtake rights with Atlantic Lithium and the Ewoyaa project.