George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
I haven't read the Times article because its behind a paywall but I've read the similar article that was written bfore the recent approval.
This is typical left wing NIMBY nonsense. If you don't want fossil fuels then you need to enable alternatives, if you don't want the alternatives either then go any live in Afghanistan like a caveman.
Most people don't want to live like scavenger hunters we want our modern conveniences and if we have to follow the Net Zero dogma then we need to dig up the Lithium.
Friday Rant Over. Wouldn't want to be out of this at the weekend etc etc
So Portugal Resident have decided that the Lithium isn't really there and even if it is Hydrogen cars are the future!
I'll sell my shares this pm :)
SAV is a bit 'off the radar' other less deserving shares get more press. BUT the lithium is there and it's not going anywhere yet so value will out (eventually)
Further good news today and another relatively muted response from the markets. However I'm not really bothered, 'value will out' as they say.
IMHO:
SAV looks under valued against most of its peers when you take into consideration location and political stability compared to many African miners
Excellent project fundamentals
'Rules of Origin' will include batteries from 1 Jan 2027 so big European car manufacturers need to secure their lithium by then. (Which fits nicely with SAV production timetable)
I've held here for longer than I care to remember so waiting a few more years for full value is disappointing but The time will pass anyway.
Ana Fontoura Gouveia, Secretary of State for Energy and Climate is promoting the Lisbon Energy Summit which runs from 30 May to 1 June. It would be unfortunate if they announced bad news about the Countries Lithium industry during that Summit and equally a good news story to share assuming it gets the go ahead.
She's on You Tube promoting the Summit (In English)
Erm....haven't you heard , UK has been part of Europe since the Polar caps receded? The EU is a very recent political construct. Try not to confuse the two.
The point being that Nations such as US and China are forging ahead with electrification while narrow minded Europeans are obsessed with petty infighting about Brexit and an ex-PM who lives rent-free in their heads. When they should be strategically positioning themselves to secure raw materials and developing infrastructure.
....and in Europe, Boris charged with more cake offences.
No wonder we are lagging behind!
NIMBYs have a lot to answer for in all countries.
Let's see what the decision is here in the next few days. If SAV get rejected then Portugal's Lithium industry is dead in the water, if its positive then I agree with your predictions.
With the Giga factory in the south and the Stellantis move Portugal would be bonkers to say no but then Governments do some bonkers things just look at our current circus!
If it's 10 working days notice for a no then isn't that tomorrow at the latest?
This is really interesting because on the BBC News the reason for moving from UK was stated as lack of battery production in UK and the new EU rules about the % of 'home grown' components. So batteries made in Portugal would significantly reduce the % of imported components.
On BBC they talked about battery components but not raw materials but it doesn't take a genius to make the link.
Looking positive. GLA
Typical virtue signalling hyprocrites some might say. Not me though.
I think the next big demand for Lithium will be for storing Solar and wind electricity generated in the daytime/windy for use at night /calm. Most solar systems advertised now include storage as part of the package and the volume of lithium will dwarf that of your average mobile phone by many magnitudes.
Can't blame anyone for taking a profit. This is still a binary bet and governments can make irrational decisions.
However did anyone see the piece on BBC News about the subsidies in US for electrification of the car industry and the massive battery factory they were building?
The article said EU was planning the same, so without a European Lithium source.....just saying
Replying to Wolster, I think offtake agreements are a lot more likely to get signed off once the go ahead for the mine is approved so it's chicken and egg really and this one hurdle should derisk the whole project and unlock the value.
Any sensible country (Portugal) and any sensible trading block (EU) would be making sure that they secured their own supply of strategically important raw materials, especially in the current global circumstances.
Unfortunately since 2020 leaders have shown that they can make some very sub-optimal decisions!
If SAV doesn't get approved then the Portugese Lithium industry will be dead in the water before it even gets going. If SAV cant get approval then none of the others are likely to either. This really is fundamental to Portugal and to the rest of the EU. Either you are serious about the Electrification revolution or you aren't and relying on countries like China for supply will only end in tears.
For me this is still a binary bet , hopefully not long to wait now to find out which way it falls.
Lots of early morning buys today. Maybe Mehday wont be so Meh after all
GLA
Wow, I'd given up watching this share and all but given up onthe money (have just over 1m shares) but the amount of work on site is really encouraging.
Hopefully see some value return this year!
Only in Portugal could 6 month become 7 months because they are working days not actual weeks!
Drive you mad, no wonder their economy is tiny.