Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
The last placing was April 2021 when we should have been heading toward a resolution on the first stage of EIA. We've since had a 2 year delay, war in Europe and global energy crisis.
Board have cut the fat with disposal of Moz and reduced salary expenditure pending a suitable replacement CEO. Current CEO and other board members are adding 450k towards the 5.8m placing too.
To reiterate IB, your post is garbage
US Dept. of State publish their Portugal report 05/04/22 then Mary Jo Jacobi is appointed to the board 07/04/22 per RNS. Never quite understood why someone of her calibre appeared but I believe looking at this, the US government have recognised Savannah as key to the development of Portuguese and potentially European lithium value chains.
"Portugal has been a leader in the uptake of renewable energy domestically and its largest energy company Energias de Portugal (EDP) is a
significant and expanding renewable energy investor in the United States. Portugal is also working to develop its significant lithium deposits—a strategic mineral that is vital
for the global energy transition. Under the Standing Bilateral Commission, we have
already had fruitful discussions on cooperation in energy transition, to include lithium
development. We will now operationalize these initial discussions by establishing cooperative partnerships between USG and private sector entities and their Portuguese
counterparts. Portugal’s proactive approach to energy transition and our comparative
advantage in this sector will yield positive cooperation and deepening of ties for years to
come."
https://www.state.gov/integrated-country-strategies/
Don't forget we have ex Shell and HSBC marketing/reputation manager on the board. Im sure the trigger will be pulled when we can achieve value, no point advertising ahead of schedule knowing there's better ways to allocate resource.
Wolster, yahoo stuff is auto generated so not worth much. Re. cash burn I believe we have enough to see us through the DFS. Any offtaker worth speaking to will be offering cash for construction, long lead items etc. Similar to Atlantic/Piedmont or Kodal/Hainan I expect we will receive construction funds for 50%. SAV have played it well including the additional capex required for community infrastructure in the updated PFS as we ultimately need cash for that too so sets our stall out nicely for negotiation.
Wouldn't read too much into that. CALB are still at PDA stage which defines the scope of EIA, some way to go before making a commitment but NDA's will surely prevent disclosure of plans to press too.
https://participa.pt/pt/consulta/pda-do-eia-da-unidade-industrial-de-baterias-de-litio
Tesla will have competition from the Chinese. CALB certainly think Portugal has potential, selecting the country for their first European giga factory. Wonder what price the bidding will start?
https://www.electrive.com/2022/11/04/calb-signs-mou-for-factory-in-portugal/
My reply was in jest to Radnaski suggesting spill from PREM.
I understand the sentiment anyway, rising/falling tide effect. Not sure that's the case here though as PREM dropped with funding delay/issues whereas we're now in a stronger position to start negotiating.
Short term and short sighted selling imo
It was in RNS, Just Transition Fund Approves Cinovec Project 30/01.
"The maximum funding to be made available upon application to each Strategic Project in the Usti Region is CZK 1.2bn (approx €49M). The Cinovec Project has been allocated the maximum possible JTF grant of CZK 1.2B (approx €49M), subject to passing through the application process, funds remaining available and obtaining the necessary permits for the early-stage Cinovec work programmes to which this grant funding is planned to be applied to, in particular the early full development of the twin decline entry/egress system for the mine.
Accordingly, Geomet s.r.o (the Cinovec project company) will apply for JTF Grant funding for the maximum amount of CZK 1.2B (approx €49M). "
Search Petrogal to see their consortium applications
https://www.iapmei.pt/PRODUTOS-E-SERVICOS/Incentivos-Financiamento/Sistemas-de-Incentivos/Plano-de-Recuperacao-e-Resiliencia/Agendas-para-a-Inovacao-Empresarial.aspx
Keith, the poster has missed grant funding from the mix. EMH for example have applied for circa $50m from the Just Transition Fund.
More interesting here, Savannah have a consortium application with GALP (Petrogal) for funding under the C-5 section of Recovery and Resilience funding. 3.6m of the fund has been gifted to Fusion Fuel and 36m for their consortium, and guess who is the lead,
"The grant is part of a broader funding award allocated to the Moving2Neutrality Alliance, a consortium of 13 partners spearheaded by Petrogal, a subsidiary of Galp Group, that is focused on solving the challenge of decarbonizing commercial and industrial mobility by developing sustainable fuels production hubs in Sines and other strategic locations in Portugal."
Only a matter of time untill GALP's second consortium receive their slice of the pie imo.
https://ir.fusion-fuel.eu/news-releases/news-release-details/fusion-fuel-awarded-eu36-million-grant-funding-1-mw-green/
https://recuperarportugal.gov.pt/2021/06/13/investment-re-c05-i01-01/?lang=en
Daveri, Czech site is still showing environmental report, public consultation etc as incomplete. I can't see the CRMA overuling Europe's legal obligations in this regard so will be interesting to see what happens.
https://portal.cenia.cz/eiasea/detail/EIA_MZP506?lang=en
Fortescue, they have been building a team in Portugal for some time now and have several applications in covering the proposed tender sites. I think they will become a more prominent player once the tender arrives.
Thanks Hospi, agree this board is worth the effort as we do get a good mix of views with decent discussion. Pleased to see the back of this stage and congrats to all who stayed the course, certainly those of us buying in the 2's!
Interestingly, the local anti mining group seem to believe Reigoso is the next target for SAV. Will continue to dig for their source but can only assume it's been mentioned at a local meeting, after 3 years following their activities I can say quite comfortably they're usually right!
For any newcomers, Reigoso is a 120km2 area north west of Barroso with a previous application from Slipstream Resources (SAV). Map below shows the existing mine and nearby exploration requests.
http://mapadominerio.auportugal.eu/index.en.html
Approx 1km west of Mina do Barroso is Lousas mine, an existing quartz & feldspar mine (visible on Google maps next to our drill holes). They have now entered public consultation for a similar expansion of their mine area with reference to lithium exploration and several references to SAV data which has been collected over recent years. Positive sign that there's plenty more in the ground than what has been indicated.
https://participa.pt/pt/consulta/ampliacao-da-mina-de-lousas
Keith, bullet 3 re. deadline;
Order of the President of the Board of Directors of the Portuguese Environment Agency:
Following the hierarchical appeal lodged on the aforementioned matter, I determine the extension of the public consultation for an additional period of 10 days .
This is justified for the following reasons:
1. Special complexity and extent of project information subject to reformulation under the terms of the law;
2. Manifest interest on the part of the public and interested parties, namely the municipality of Boticas, in making a pronouncement, and consequent understanding of this aspect by the APA in the spirit of the Aarhus Convention;
3. Notwithstanding the provisions of the “simplex environment” diploma, I consider this decision to be possible, exceptionally, insofar as the final decision deadline remains.
Nuno Lacasta
President of the APA Board of Directors
https://participa.pt/pt/consulta/alteracao-ao-projeto-de-ampliacao-da-mina-do-barroso
At the 25th International Renewable Energy Agency meeting in Abu Dhabi, Portuguese secretary of state for energy and climate has been speaking about the path to COP28, addressing the importance of critical materials, in particular lithium at a local and global level.