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Https://www.metal.com/Chemical-Compound/201102250059
Sorry forget to post link
Guys something special has happened this week to Lithium prices and spodumene . This is highly significant to Prem .
Since November until mid April the price of lithium fell every day , usually spodumene follows lithium two months later . Well in last week something dramatic has happened .
Firstly lithium which fell from 600,000 Yuan a tonne to 178,000 stopped falling and has risen 26% in two weeks . It is now 225,000 a tonne .
Every day it is rising at more than 5% a day last few days .
Secondly spodumene which usually follows lithium at least a month later if not two suddenly starting creeping up and the spot price is over $3855 . This is not contract price which will be over $4000 . So this dramatic change is linked to Chinese car sales which the market had been given the wrong indication was slowing for electric vehicles . In April Chinese electric car sales were up 100% compared to 2022 April . Battery makers reduced their inventory in q1 , now getting clutch short .
What an amazing time for prem to start producing .
Soon spodumene will be back to $5000 a tonne
Https://www.metal.com/Chemical-Compound/201102250059
Up nearly 20% in a week
Prem will rns I am sure when they do first shipment likely next week .
One take from yesterday was how big does George think that Prem will become . He said production could double , treble quadruple from the 50,000 tonnes spodumene a year .
So at 200,000 tonnes a year assuming $4000 , a tonn that is sales of $800 m in a couple of years .
Prem will become a billion pound company I have no doubt
The timing for Prem is incredible as Spodumene price rises now for two days in a row as China ev sales in April up 100% compared to last year .
https://www.metal.com/Lithium/201906260003
Alert , are you seriously telling me you are listening to that section and imagining something that was not said .
I discussed the offtake with Mark the day before hence this question to claifiy the offtake agrement , that was what it was all about . without meanign to be rude you lost the plot
Alert dotn be daft , the 59m 20 seconds is all about the offtake agreement 100 % then 50% , you completely got the wrong part of that , so stop spreadign diinformation .
the offtake is 1005 of spodumene is sold to Sushou until prem pay back the loan then it falls to 50% , so pay more attention p lease
Alert sorry you are still wrong , it is up to George to decide what payments go back to Sushou . sushou get 100% of the spodumene they then pay PREM and prem do what they like but by one year they must repay loan . its all a none issue and with a market ap of £220 m no one should care at all about a tiny amount of money which is of no relevance .
You are debating the wrong issues . prem wil lbe a multi billion dollar company in next 1-2 years . and many share holders will get rich from here
Alert i think you got that wrong .
PREM have 12 months to repay the loan , so they will pay back what ever they want in first few months . so they most likely will pay nothing back first month to bank the cash .
The whole discussion is a complete non issue as its peanuts and it won't be a discounted placing , so lets drop the subject as its of no importance at all .
My question about the size compared to Pilbara is telling , George said production coudl go up 3 or 4 times , so may be 200,000 tonnes a year.
If PREM need say $1m until they get paid i reckon banks will fall over themselfs to lend , so dotn worry no placing coming . but based on last placing it would be at a premium .
Fore those not yet seen the videos coming out from Zulu thety are stunnign .
some concern raised by craig about whether the plant is operating . I have checked on this and Craig it is nto what yout hink
the plant is currently operational and ore is flowing through the plant . but from time to time it is stopped either due to the odd blockage abut more importantly to optimise the plant .
So it appears all is going well . I am sure Mark will show a lot more later today and tomorrow .
Tomorrow we have the live presentation from Zulu which should be great
Craig , i think he said there was some blockage in flotation which was getting fixed , giving the impression that they had been producing and woudl be again soon . but I am sure Mark will clarify . you got to hand it to Mark , what an amazing job he is doing .
Excellent assessment of the Mm holding this , we must get news next week . It’s great to see Mark Fairbairn from stock box taking the effort to travel to Zulu . We should be hearing from him over weekend and his show on Monday .
Hopefully he can answer a lot of questions we have .