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EIT RawMaterials financed two projects, “EuGeLi” (geothermal
brine extraction) and “LiRef”.
Keliber, Savannah, Galp and Aurora are/we're all part of LiRef so may well see Savannah follow a similar route to Keliber
https://eitrawmaterials.eu/project/liref/
Recall an article suggesting there's only a dozen or so hydrogen fuel stations in the UK. Would need significant investment from industry to meet demand.
Quick Google for comparison shows 31,000 EV charge locations. If National Grid and the network operators can execute the connections action plan in a timely manner it should further improve capacity and connections for EV charging in the coming years.
Generally agree with Ali though, both EV and hydrogen with have their place.
Link below to the English translation of the conclusion of the investigative procedure, hopefully works. Look at the work required on pages 3 - 6, all required and subject to assessment under national and EU law. Brushed under the rug by KC ever since it appeared 12/08/21 but fundamentally what's required impacts DFS.
I imagine the significant impact to the SLO is at least in part due to mitigation measures required following the outcome of this work. It's a legal requirement to publish the information so just keep an eye on the EIA portal. If/when they have completed and submitted you should see it.
https://file.io/pr8jyLjSWUVQ
Gsdsitgs, you're half way there. Download the PDF against "Conclusions of the investigative procedure" and that details the additional work required by the EIA authority. You'll also see headings for opinion, public hearing and interstate assessment which are all part of the Espoo and Aarhus conventions.
Fingers, not suggesting work hasn't been done previously rather that insufficient work was done at that time. Could have been due to finance, prioritisation of other work streams etc.
Just my opinion of course, but I believe a logical contributing factor for delays. Also given the EU laws on public participation, a tangible and measurable reason as we retail investors should be able to see this work stream develop on the link Gsdsitgs posted. EMH need to get the work done, get the licenses and permits then the project can really move on.
No FUD, cba with that nonsense. Just an honest contribution for the likes of Skelly getting frustrated, as I once did! We all have our own tolerance but personally, acceptance of the process and appreciation of the time it takes makes it easier to file this one as a mid-long term investment and focus less on short term activity.
Permits may be implied but under the EU’s EIA Directive there's a series of assessments which must be done before a project can start. It's also intrinsically tied to public interest. Look up the Espoo and Aarhus conventions.
I'm not disputing the likelihood of Cinovec being approved, agree on that and still holding, but, it reads to me that they failed to undertake sufficient analysis at an earlier stage in the project. As an example, if you have to monitor bird species over a number of seasons to identify migration patterns you can't physically expedite that work. The Czech EIA authority published their requirements in this regard which were extensive. (I did translate and post here some time ago to flag the issue).
Speculation on my part, but having watched KC in many interviews he certainly suggested the EIA was further along than it was and perhaps held off commissioning the necessary work in hopes of a free pass due to the projects strategic importance and/or lack of funds.
End of the day he's an Aussie and I can't blame him if he was indeed baffled by the EU red tape. Fundamentally though EMH still have to abide by the law and follow due process.
Skelly, the latest quarterly report stated, "The proceeds from the Placement will be used to assist in funding pre-development works and studies for the Cinovec Project including environmental works..."
The environmental works are extensive and I've long had the view that this is where EMH failed. Regardless of an EU designation of 'project of interest' that doesn't give a free pass to identifying, mitigating and monitoring environmental risks.
Look back at 2020/21 Keith was all over saying the EIA was going in, we expect positive results etc. I came in around that time but after reading the submission, he clearly failed to realise what they submitted was a preliminary document, and from that, the authority determine their requirements for the EIA. Still no update on this almost 2 years later.
Still holding, but it's bottom drawer for me until we see more robust details on the projects environmental work.
Infinity awarded €18.8m grant from the Spanish government, a non repayable sum under the PERTE scheme.
All the while SAV are proposing to privately find a €20m road and getting hammered for it. Couldn't make this up.
https://www.proactiveinvestors.com/companies/news/1032837/infinity-lithium-soars-on-gaining-strong-endorsement-of-san-jose-lithium-project-with-18-8-million-government-grant-1032837.html
There's plenty of articles out there from reputable sources suggesting the criminal investigation is related to the data center in Sines. The only comment on SAV to date is regarding the proposed access road.
The anti groups suggest that if there is an impact from development then the development should not progress. That's a naive view as there is always impact and the purpose of the EIA process is to assess risk and mitigation.
We'd like to imagine that through the Article 16 process, as defined by European law, and with the environment authority in attendance, that the proposed access road offered the best mitigation i.e. divert traffic from the residential areas, and this was agreed between the parties to be included in the project cost.
Certainly in the UK, a similar process can be observed during the planning process whereby developers will be asked to add sustainable drainage or biodiversity net gain to their projects. It increases cost to the developer, achieves a benefit to the community but it's not unlawful by any means
Picking up on GS comment re. criminal offense the below link gives a useful summary of Portuguese law. Search 'Domestic Public Officials' for the relevant section which details the penalties.
There's no suggestion in anything I've read so far that, if an individual is found to have committed a corrupt act, their decisions are revoked.
There is however detail of civil procedures in the event of economic damages i.e. civil claims or class action against the party who caused damage.
https://uk.practicallaw.thomsonreuters.com/w-033-2483?transitionType=Default&contextData=(sc.Default)
Terry, it's not a one size fits all solution. If you've been here long enough you'll recall the original case in Montalegre against Orlando Alves (mayor of Montalegre) who essentially signed off contracts for friends and family.
https://www.portugalresident.com/ps-corruption-allegations-former-mayor-stays-behind-bars-as-deputy-starts-talking/
The mayor of Caminha, Miguel Alves (not sure if related to Orlando) who became secretary of state, was similarly signing off contracts.
https://www.portugalresident.com/costas-deputy-cited-for-signing-e300000-rental-payment-for-pavilion-that-doesnt-exist/
In the near 4 years I've been invested in SAV I've never seen any stories of this nature about the mayor of Boticas. He has been against the mine, supporting the anti mining groups legal challenges and a report to UNECE, although I'm sure he acknowledged the economic benefits at one stage.
So far it seems SAV are only being mentioned because of proximity to Lusorecursos or convenience of them being the first approved by APA.
The board have responded to and acknowledged the legal challenges RNS 28/09 "The lawsuit follows the common procedure regime. Under this regime, the submission of this lawsuit does not suspend the DIA. It remains in force and allows Savannah to proceed with all the actions authorised by its content"
With the Portuguese lithium tender due within months, could SAV be seeking a partner to, not only assist with funds to develop MdB, but also engage in a partnership/JV bid for further tenements?
I've seen Galp, Aurora and AMG Lithium employees commenting on the upcoming tender news so it's certainly on their radar. Would make sense for SAV to continue exploration of new areas whilst a new team is drafted in for construction of MdB. The partner then secures supply of a discounted product and significant expansion potential for their cash injection.
Portuguese Gov have been promoting the auction at international events and, as below, they've been waiting for approval of MdB and Romano.
Interesting to see how this develops as 2 mines and a refinery within 10km must surely be of interest to those with a significant war chest.
"Galamba told a parliamentary committee that the "government understands that the international auction will benefit from the conclusion of these processes".
"It doesn't make much sense to launch an international public auction, when simultaneously these environmental assessment processes are underway" at the Barroso mine and the Montalegre mine, in northern Portugal, he said."
https://www.reuters.com/markets/commodities/portugal-awaits-assessment-two-lithium-mines-before-launching-auction-2022-09-21/
03/07/2023 Dale laid out the plan. It's only been 6 weeks/30 working days. We're dealing with government, statutory services and other 3rd parties. Needs time for others to tender for works etc.
A healthy dose of realism needed here by some
https://www.lse.co.uk/rns/SAV/upcoming-barroso-lithium-project-milestones-bqotrljdcerc53v.html
AMG Lithium, already mining in Brazil, due to commission their hydroxide refinery in Germany later this year, and now looking to pull in Portuguese spod supply via existing ceramics mines.
Positive to see another potential buyer enter the Portuguese market, only this time they have a tangible asset! Aurora and Bondalti/Neometals will have to sharpen the pencil if they want to lock in supply.
AMG Lithium - Commissioning Q4 23
Bondalti/Neometals - TBC Feasibility stage
Aurora Lithium (GALP/NV) - Target production 26
https://amg-nv.com/investors/press-release/amg-brazil-signs-mou-for-development-of-lithium-concentrate-production/
https://amg-nv.com/about-amg/amg-clean-energy-materials/amg-lithium/#:~:text=Lithium%20Concentrate&text=The%20current%2090%20ktpa%20is,to%20ultimately%20produce%20lithium%20hydroxide.
Reminder
https://www.lse.co.uk/rns/SAV/response-to-recent-portuguese-press-coverage-ykjwwarw7h9zz18.html
The Luso project is currently going through the same Article 16 process. It's approval may be desired by PortuGov before the auction to show Barroso wasn't a one off. Also, the Romano mine plan includes a refinery which is intended to take material from both on and off-site sources so, Barroso is a logical source for low carbon Spod.
https://participa.pt/pt/consulta/concessao-de-exploracao-de-depositos-minerais-de-litio-e-minerais-associados-romano