RE: RNS26 Nov 2021 08:38
I've been hugely impressed with the PR & communication over the last month, it's been first rate. The UK market seems blind to the opportunity here, it absolutely baffles me that so few new buyers appear willing or capable to do the research or maths to figure out the value gap on offer.
- Full funded to production via Piedmont, who are jointly incentivised to get this done as quickly as possible, seeing as they are 50% equity owners in cape coast lithium & 10% in ALL & need the supply for it's Tesla contract.
- Aiming for production as soon as 2023, as per Vince's presentation last week. PFS & DFS expected in 2022 which should confirm value.
- $22m cash, zero debt, and absolutely no threat of it.
- An asset in Ewoyaa that is truly unique in it's location & low cost characteristics. DMS only, simple process flow sheet.
- An NPV of $345m / IRR of 125% at just 14mt and $650 spod price with an imminent upgrade on the way.
- Huge exploration potential, part funded by Piedmont, boosted by Monday's grant of an exploration license (which had been pending for 5 years)
- In addition, we have pending exploration licenses in another 2 locations that if granted would provide significant upside; we applied for licenses in the Ivory Coast way back in 2016, they are located just 75km north of the capital city Abidjan & appear to be just as well served by infrastructure as Ewoyaa. I noted that the IRR presentation this week mentioned the 100% owned Ivory Coast lithium portfolio. The second with huge potential is Egyasimanku Hill, again a license application was lodged way back in 2016, just before the most recent cape coast license was granted this week.
And yet there is zero interest! Worse than that, we are down 7.8% this morning on a handful of small sells, yes the market is poor, but contrast this with Savannah resources, Zinnwald lithium, European Metals & Bradda Head which are flat... You'd think our project was on the moon rather than in Ghana!
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