Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
I guess we're gonna find out pretty soon then. This would be a massive lost opportunity for the investors so can't see why they would not sign this week. Either way, the SP doesn't even reflect our Saudi assets so any further drop will not be that great in my opinion. But if they come up with the goods? :)
This is what we have been waiting for for years! Assuming all parties say yes (and they will all make a lot of money out of this) we could 3 or 4 bag this in the next two weeks. Can't understand the sellers....
"In Saudi Arabia, we now have two development projects in progress after being held up for many years awaiting a regulatory overhaul. We are looking to develop our Jibal Qutman Gold Project and then to follow with the start-up of the Hawiah Copper-Gold Project. Both projects are growing, but already in the feasibility study stage and, combined, the KEFI interest therein is already projected to exceed that of the Company's Tulu Kapi Gold Project in Ethiopia in terms of NPV and cash flow generation.
"Drilling at Hawiah during 2022 should not only further grow the copper-gold resources but also upgrade the classification to the confidence required for mine planning in the PFS, to be completed by the end of this year. Drilling at Hawiah and the nearby Al Godeyer Prospect is also targeted to provide additional near-surface oxide gold resources to be mined first in open pits, expediting first revenue, prior to the underground mine and base metal processing facility being developed.
"With recent encouragement from the Saudi Government, Jibal Qutman is likely to be developed first as KEFI has already commenced work to update the PFS completed in 2014. The preferred development approach for Jibal Qutman is now likely to be a straight-forward CIL gold processing plant, at a larger scale than previously envisaged, as the economics for mining and processing the whole resource now are much more robust at the higher current gold prices. Another important consideration is that project financing in Saudi Arabia will not require foreign banks and that Jibal Qutman will not require the resettlement of communities.
"Our teams in Saudi Arabia and Ethiopia are all working hard towards potentially developing both Jibal Qutman and Tulu Kapi in 2023 and then Hawiah shortly afterwards."
All looking good;
Hawiah Exploration Licence ("EL") has been renewed for five years
· Drilling programmes are proceeding as planned at both Hawiah and adjacent Al Godeyer ELs, with four drilling rigs operating across the licences
· On track to complete new Mineral Resource Estimates and Hawiah Preliminary Feasibility Study ("PFS") in Q4-2022
Jibal Qutman:
· Discussions with the Ministry of Industry and Mineral Resources regarding G&M's Jibal Qutman licence applications continue, and the Company remains hopeful this this matter will be resolved in the near future
· Accordingly, G&M have initiated actions which will allow this project to be advanced rapidly. These include:
o Independent audit of Mineral Resource Estimate;
o Detailed mine planning and scheduling;
o Engagement of Lycopodium to complete a 2 Mtpa carbon-in-leach ("CIL") Detailed Feasibility Study ("DFS") by December 2022; and
o Updating the environmental and social studies to comply with new legislation.
· The intent is to be in a position to trigger project financing formalities for development commitments as soon as the necessary clarification is obtained
· A relatively quick financing and development schedule is targeted because the Saudi Government has simplified and sped up regulatory clearances for development and the financing thereof
It's good to see their confidence. So much to happen in a very short timescale. I think investors are waiting to confirmation of security issues before buying in. But this may come on the same day as the umbrella announcement - which will be far to late to buy in at these ridiculous prices....
What does the Tulu Kapi Umbrella Agreement comprise and when will the full funding package be in place?
A: Please refer to the RNS “Ethiopia Development Update” released 15 June 2022.
Q. Will shareholders be able to ask questions at the upcoming AGM?
A. Certainly. And other questions recently received, particularly regarding disclosure in the Company’s Annual Report, will be answered at the AGM and available online (details to be provided closer to the AGM).
Q: Can you confirm that resettlement has taken place in the Substation, Plant and Mine areas?
A: Resettlement approvals from the company (and the requisite funds) have been handed to the local authorities and the households in the substation area. The move can take up to the statutory 90 days. As stated in the presentation the next will phases will be various parts of the plant site and then the mine site. But that will be staged over a 12 month period and cost over $20 million, so it is not shareholders’ interests to trigger that prematurely from a financing viewpoint.
Posted 15 June 2022
done so far;
Project activities undertaken in the last month included:
· Receiving a final pricing proposal from the mining contractor, which is being reviewed;
· Commissioning further refinements of the process plant construction contract and pricing. Current supply chain strains internationally warrant intensified due diligence on this matter;
· Collaborating with the local Government authorities to implement the first stage of resettlement and compensation under the agreed protocols as per World Bank IFC Performance Standards;
· A multitude of community and local-authority engagement meetings;
· Presentation at the Mine Africa forum in Toronto to promote Ethiopia for mining development (the presentation will be available on the KEFI website: https://www.kefi-minerals.com)
Given the disastrous performance of the (on the face of it) much superior TPLF army I would imagine the OLA would do well to keep the hell out of it. Especially as the EG has nothing much else to do now and Abiy is keen to crack down on security. This sort of stuff has been going on for years. It won't stop Kefi (and the EG with their stake in the company's future).
we should find out on Wednesday whatever legal rubbish the Sami are planning to spout....
On 15 June 2022, the Sami village is calling for a press conference in Jokkmokk, where they are expected to describe in more detail how they will proceed.
If they are suing the Government for compensation then it doesn't affect us. I suspect they are too late for judicial review or an appeal to the court against the Govt's decision.....
and Tigray sorting itself out;
https://www.sudanspost.com/ethiopia-tplf-reach-secret-deal-to-restore-electricity-banking-services-in-tigray-region/
Abiy sorting out the security :)
https://www.sudanspost.com/ethiopia-to-continue-law-enforcement-operations-against-illegal-groups/
also worth pointing out that if the worst came to the worst - BEM could claim compensation from the Government...
or they're cracking down on them - one or the other :)
https://borkena.com/2022/06/08/ethiopias-national-security-council-vows-to-continue-law-enforcement/