PYX Resources: Achieving volume and diversification milestones. Watch the video here.
Nothing major, some photos and a summary of a meeting between Kodal/Hainan and local administrators; however, it's good to hear that everyone is on good terms and the local population will greatly benefit:
https://m.facebook.com/story.php?story_fbid=pfbid02t8jfx5iDgHDgzVw7sYLNhp76kpkeR1rTXoprdubPYiQ5R9Q4Yki1VKwNEBPRR6vjl&id=100064632554088
Didn't see a drift in Prem's SP while construction of their pilot plant was ongoing, so what is the difference with Kod? Prem's SP only collapsed when serious problems were announced.
I expect Kodal/Hainan have studied Prem's disastrous mistakes so as to make sure they don't repeat them.
But it won't be silent. The RNS states that Hainan are FULLY committed, no pulling out. There is still the full approval from the DNGM and the JORC upgrade to follow.
I hold Prem in addition to Kod. I only bought into Prem a few weeks ago after the multiple share placings stopped and GR finally got to grips with the chaos. My only concern is that there is still the unknown factor on actual grades and volume. The interview didn't actually state either, only an RNS will confirm this; but hopefully Prem will deliver by deadline date. However, Prem will still need to repay the massive loan to Canmax and the pilot plant will only have a maximum output of 4k tonnes each month, it will take a lot of Spodumene to not only repay Canmax but additionally build a larger plant such as a DMS or full floatation.
Kod: is on the verge of great things, just requires the DNGM to speed up the sign off process. The JV partnership is already in motion with the construction of the plant access road, what does that tell you? The risk factor has been almost eradicated with probably the best mining JV of all time; that includes debt free for Kod, and a clear managed pathway to a full floatation plant.
I hope both Prem and Kod do well, but imo Kod is far the less risky and more secure of the two.
"For intellectual advice of a very high standard then i can recommend advfn. not always accurate but infinitly better than the know it alls".
Advfn is plagued by a lunatic who has several aliases. It's a shame that there seems to be no way of removing the advfn Kod thread lunatic, he/she has driven out the posters who make sensible and frequently intellectual comments.
If you much prefer advfn then my advice is post only on advfn and not lse!
Perhaps hybrids are more likely to catch fire than other vehicles; however, the common factor is Fossil fuels. Full electric vehicles are less likely to catch fire than fossil fuel vehicles..
https://thedriven.io/2023/05/16/petrol-and-diesel-cars-20-times-more-likely-to-catch-fire-than-evs/
I doubt and very much hope the sign off won't be early to mid 2024. The Hainan guys are staying in Mali until the sign off. Imo, that means that they are there working alongside Kodal's country manager to push through the package presented to the DNGM; dealing with any further queries. I would estimate no more than a month to sign off.
From Sweden, 2022. But a modern car is a modern car whatever the fuel and Sweden have very high standards. I did read somewhere else that hybrids are more likely to catch fire than full electric vehicles but that is down to the fossil fuel element.
https://thedriven.io/2023/05/16/petrol-and-diesel-cars-20-times-more-likely-to-catch-fire-than-evs/
Re mining.com article:
"This week in Mali, Kodal welcomed key Hainan representatives that will form part of the LMLB management team for the development and operation of Bougouni. A meeting was held with the DNGM on 19 September 2023 and during that meeting, the DNGM confirmed that the Bougouni Mining Licence having been awarded under the 2019 Mali Mining Code, remains valid and administered in accordance with the 2019 Mali Mining Code."
Am I interpreting this correctly: That the new updated Mali mining code would therefore not apply to the Bougouni project, because the 2019 Mali mining code still applies?
i.e. It will only be a 10% automatic stake to the Mali government and not an additional right to buy a other 10% once production begins. Additionally, the free 5% automatic stake to the local community does not apply?
Obviously it is extremely important that the change of plan (DMS plant) is approved. However, it wouldn't be a bad thing if minor amendments were requested by the Mali Ministry to fully comply with their mining code. This happened with the original mining licence application in 2021, where Kodal had to slightly alter their application before it was fully approved. Bernard has repeatedly stated that Kodal and Hainan have been working closely with the Mali Ministry of mining, so any changes would probably be minor.
Yes, it would further delay the project commencement; however, from recall the 2021 mining licence approval was only set back by a few weeks. Better to get it right now than to fall foul later, just look at Leo lithium as an example of what can happen when you don't comply.
Bureaucracy at its frustrating finest. The longer Mali delay proceedings the longer Mali loses out. Very frustrating for Kodal, Hainan & their shareholders. In addition to Leo lithium, Perhaps the delay is something to do with the gold mining companies still talking with the Mali ministry of mining on particulars of the new code.
The pressure is beginning to bite:
https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url=https://ukinvestormagazine.co.uk/premier-african-minerals-shares-fall-as-make-or-break-lithium-offtake-terms-pile-pressure-on-production/&ved=2ahUKEwiK1NyD3eWAAxVVWkEAHfCxBfYQvOMEKAB6BAgKEAE&usg=AOvVaw3u-DnNLWDBekhKCB3eqY0x
Another deluded Prem investor peddling nonsense. Prem has immediately drawn on the £2 million credit facility as they are flat broke, oh not forgetting the probable 5 Billion share placement that will soon be actioned. Sounds like the new deal between Prem & Canmax is heading towards a JV but on very poor terms for Prem, unlike the JV that Kodal has. As always with Prem, it's business run by delusion & guess work!
I wonder if this is something to do with the surprising but welcome sp rise this am. Note: the link headline is obviously incorrect, the link is about an internal opposition group to the Niger coup. Could well be cracks appearing in the Niger junta regime 🤞
https://www.reuters.com/world/africa/time-running-short-diplomacy-post-coup-niger-talks-stall-2023-08-09/
Elcobbledore, Yes unfortunately you are probably correct. The ongoing discussions with the mining operators and the Mali government: I would guess that the mining operators would be stating that if you want a larger cut of the profits then you have to give some else back, such as improved tax incentives against capital expenditure (flotation plant springs to mind), or even government grants towards large scale capital expenditure, rather like what the UK does; recent example being the ev battery plant in Somerset. This would be in addition to demands to speed up the painfully slow mali bureaurocracy. All will be revealed in the near future.
In addition to incentivising the Mali government to speed up their painfully slow bureaucracy, I would have thought that they would have to contribute towards an equivalent share of the costs of the operations including the the future flotation plant?