Member Info for Starfoxx

Jemesa/Lucky, public consultation is a requirement of the EIA process regardless of the cross border element and both are intrinsically linked. The local in-country consultation is a requirement of the Aarhus convention with cross border coming under the Espoo convention.

It's positive that both have been progressed in tandem mind you, which does infer some robust planning to get everything translated and issued.

The risk comes from the consultees and any queries which require more information or work to be submitted triggering further consultation.

What didn't present well for Cinovec was the attempt to split the EIA into two parts so the consultees will have to cross reference against the 3 applications submitted in 21, 25 & 26.

I'm split 50/50

Jemesa, your view that public consultation is a milestone event is somewhat misguided as it's often the case that further technical information, design and re-consultation are required.

I'd love to be proven wrong, but I think we're more likely to see a delay with extension to the JTF.

Using PFS figures and latest PNAV averages;

DFS average PNAV 0.68

Production average PNAV 0.79

NPV10 £486m

DFS = £330m / 12.8p

Production= £383m / 14.9p

NPV8 £953m

DFS = £648m / 25p

Production= £752m / 29p

Cross border EIA isn't unique, look up the Espoo Convention, its been in place since 91.

SAV a good case study having recently been through the same, several legal challenges thrown in which delayed that process, not sure we have the same resistance here?

Spod at bargain basement prices not helping

Skelly, sense of validation here that JTF have noted EIA requirements.

Previous attempt 16/08/2021 raised several items outstanding and a long list of actions. Under CRMA however we can hope that advanced permitting will reduce the timeline for assessment.

Confirmation of KC's aptitude will be evident if we can produce surveys and data from the past 4 years as supporting evidence, otherwise, EIA will need to run its course.

Interesting times ahead

Clear statement of intent by our largest shareholder.

"AMG Lithium BV has signed an exclusive agreement with Grupo Lagoa to become the first producer of spodumene concentrate in Portugal with an initial capacity of 8,000–9,000 tons per annum by the first half of 2027"

https://www.globenewswire.com/news-release/2025/04/18/3064157/0/en/AMG-Signs-Exclusive-Agreement-with-Grupo-Lagoa.html

Https://www.savannahresources.com/investors/analyst-research/

Bocky, look up Cristina Lourenco on LinkedIn. She's legal council to DGEG and chair of the Portuguese group leading on CRMA work streams inc. the appointment of local in-country strategic projects. Several links on her timeline, it's coming.

Same could be said of any of the 47 strategic projects. Question was asked at recent investor event, advice was current stakeholders are in for the long run.

Drill results, upgrade to 40Mt+, DFS, further offtake and financing all value added events in the coming months

You've missed the planned refinery at Lusorecursos 20km away from Boticas which also received strategic project designation under CRMA.

Alternatively just send it!

Took a punt a few years back and lost a grand on this not following my own advice lol 😂

It was mid 21 I believe KC was promoting submission of the EIA claiming positive results would be given. Turned out they had filed a preliminary EIA to which the environment authority determined a long list of studies were required. Skip forward 3 years and we've changed location.

Had a DFS for the original site been completed that would be abortive. Now how does anyone expect to see a DFS until the permitting for this new site has run its course?

CRMA strategic project designation or not, it's the law. With the title the timeline should be reduced but still a way to go.

Fortunately the EIA process has to be public, again a legal requirement, so caution would suggest keeping tabs on that would be a good indicator.

SAV has been part of several EU initiatives since 2017, admission as a strategic project is almost certain given the wider Iberian value chain commitment.

Also, the late DA met with Maros Sefcovic iirc. Never disclosed the nature of discussion but safe to assume an element of that was permitting challenges etc.

Recommend reading up on the Aarhus and Espoo Convention. Also review SAV timeline for the potential challenges.

Still maintain the thought that EMH were/are waiting for the CRMA, significance designations and advanced permitting laws to come into play.

Re. DFS, how could any company come up with a definitive study without surveys or studies to satisfy permitting? Imagine the risk allowance was too significant to publish.

ChatGPT would agree

Middlesbrough has a significant opportunity to gain promotion to the Premier League during the 2024/25 season. According to the Opta supercomputer, they have a 27.5% chance of achieving automatic promotion, making them one of the stronger contenders in the Championship.

Around 25% of projects in the development phase successfully transition to production. Delays can arise from regulatory hurdles, community opposition, or financial constraints.

Also worth pointing out "At the beginning of this year, the DGEG reported investment intentions in the lithium value chain in the order of nine billion euros".

Gov working to secure debt and grant funding in advanced to ensure timely and successful execution of the tender and development of the sites.

With SAV receiving intent for 270m, you'd expect that plays favourably for future domestic funding.

Latest here;

https://www.jornaldenegocios.pt/empresas/energia/detalhe/governo-vai-leiloar-novas-areas-para-o-litio-projetos-vao-ter-linhas-de-financiamento-do-iapmei-aicep-e-banco-do-fomento

"The Government must also start to attribute "priority status to strategic projects" involving critical raw materials and identify the "large companies" operating in Portugal in this sector by May 2025. "

Don't forget the Chinese are now in Portugal developing the €2 billion CALB battery facility. Logically, domestic refining (Spain or Portugal) will tighten the overall value chain. A few have dropped off but there was Bondalti, Lifthium, Infinity, Aurora, Luso, sure China will pick up what they need to secure their investment.

Last significant change was 3 years ago Skelly when the Czech Environment Authority requested a ton of further detail for what was a very poor "EIA" submission.

It's a legal requirement to publicise applications/consultation so it's quite easy to monitor actual progress on the Czech portal.

No further development of an application for Cinovec since 16/08/21. Also no indication of an application for Prunerov despite this being announced as the new site for processing.

CEZ own the Prunerov site and have recently submitted an application for new overhead cables 29/08/24 so where's the app for a processing plant?

https://portal.cenia.cz/eiasea/view/eia100_cr?lang=en