Member Info for TrickyDicky2

6,000,000 at 6.9p late reported trade.

TDT

Thanks to theorist over on the Horizonte Minerals BB.

https://www.industry.gov.au/sites/default/files/2023-07/resources-and-energy-quarterly-june-2023.pdf

Some interesting stuff on lithium. The focus is on Australia but some interesting global statistics as well.

TDT

You can buy ASX listed shares through Interactive Investor. Never done it myself but I know its possible.

https://www.ii.co.uk/investing-with-ii/international-investing/markets/australia#:~:text=To%20buy%20Australian%20shares%20with%20ii%2C%20you%20will%20need%20to,access%20live%20international%20share%20pricing.

TDT

Thanks to sulgi over on the ATM BB.

Https://www.ft.com/content/0d2fba79-940f-4a28-8f4f-68f1e755200f

TDT

Sulgi

Excellent article, thanks for posting.

TDT

One man's distressed seller is another man's buying opportunity. Make the most of it while it lasts.

TDT

Extracts from the Wardell Armstrong report.

"The CPR is predominantly based on Norilsk Nickel report of 2001, other Norilsk Nickel documents and a report prepared by JSC Rosgeo (“Rosgeo”) and submitted to the Russian Federation Ministry of Natural Resources and Environment in 2017. The contents have been taken in good faith, with comments provided by WAI where appropriate."

"WAI considers the data available for the NKT Deposit to be sufficient for the deposit to be classified as Inferred Mineral Resources as defined by the JORC Code (2012)."

"The stated Mineral Resources are not materially affected by any known environmental, permitting, legal, title, taxation, socio-economic, marketing, political or other relevant issues, to the best knowledge of the author."

A report with no front page or index, which finishes without a conclusion on page 38 on an inferred resource that the faithful believe is worth billions.

I thought we had agreed the the Monchetundra deposit was worthless, after Eurasia published the extent of the over burden that would need to be moved to access the low grade ore, but clearly not.

TDT

TDT

"......news that's is expected to be imminent"

Expected! 😂

TDT

"Amur is not EUA, that's for sure."

Very true. Amur had something of value to sell.

TDT

"Subsequent to the Extension of the Notes, the Company has received notice of the conversion of £127,000 of the Notes into 63,500,000 new Shares at a price of 0.2p a Share."

Somebody deciding its better to get out with something rather than nothing by the looks of things.

63,500,000 coming your way.

TDT

“The players with skin in the game are the least likely to rush their spending,” he says."

“They don’t want to flood the market with lithium too quickly. They want to release it slowly to maximise their return.”

"Musk cites lithium chemical production as being the bottleneck for the battery industry."

https://stockhead.com.au/resources/eye-on-lithium-us116bn-spend-needed-for-ev-revolution-while-liontown-gets-300m-for-kathleen-valley/?utm_source=feedotter&utm_medium=email&utm_campaign=FO-08-07-2023&utm_content=httpsstockheadcomauresourceseyeonlithiumus116bnspendneededforevrevolutionwhileliontowngets300mforkathleenvalley&utm_medium=email&utm_campaign=Closing%20Bell%207%20August%202023&utm_content=Closing%20Bell%207%20August%202023+CID_95e4ee77ed2671b327dd4fda68474df9&utm_source=Campaign%20Monitor&utm_term=Eye%20on%20Lithium%20US116bn%20spend%20needed%20for%20EV%20revolution%20while%20Liontown%20gets%20300m%20for%20Kathleen%20Valley

TDT

Ignore this bit in my 09.16 post of earlier today.

"That goes for the tin as well as the lithium and tantalum. In other words the table on page 5 of the PEA, increase the non-JORC lithium ore grades to 0.73% and the MRE to 278Mt."

It's not the MRE tonnes that will increase once the non-JORC pegmatites are confirmed to JORC standard but the grade of contained metal. So, instead of an average of 0.54% Li20 the average is likely to be closer to the average lithium grade at V1/V2 which is 0.73%. That would give 1,503,435 tonnes of contained lithium instead of 1,122,310 tonnes.

The MRE doesn't change at this stage only the ore grade.

Sorry for any confusion.

TDT

I think probably not upon reflection because the Japanese are still sold on fuel cells as the way forward and not batteries. I think securing rare earths and hydrogen is upper most in their minds. More a bit of a dark horse than a front runner I would say. Then again WTFDIK.

TDT

Going back through some of the RNS's from the last 15/18 months we don't have a problem with lithium grades.

"These results include some of the drilling programme's most notable intersections of lithium mineralisation within the pegmatite intersections:

o 76 m at 1.56% Li O from 136 m to 212 m for drill holeV1V2062;

o 26 m at 1.00% Li O from 180 m to 206 m for drill hole V1V2039; and

o 25 m at 1.65% Li O from 193 m to 218 m for drill hole V1V2065

o 22 m at 1.34% Li O for drill hole V1V2041 from 85 m to 107 m; and

o 21 m at 1.03% Li O for drill hole V1V2030 from 65 m to 86 m.

o 63 m at 1.43% Li O for drill hole V1V2043 from 59 m to 122 m;

o 30 m at 1.34% Li O for drill hole V1V2035 from 82m to 112 m;

o 35 m at 1.23% Li O for drill hole V1V2038 from 71m to 106 m.

Anthony Viljoen (CEO) commented:

"As we continue to report on the drilling programme results, I am pleased that they further highlight the mineralisation potential of the V1/V2 pegmatite ore body. The additional 14 holes being reported on in this announcement are located in the centre of the pegmatite and show that the potential lithium, tin, and tantalum

mineralisation continuing at depth. The higher lithium grades of up to 1.43% lithium oxide are particularly exciting because they further demonstrate the unrealised potential of the V1/V2 orebody and support the early development of a lithium processing plant. We look forward to providing additional information on

the lithium resource through an updated Mineral Resource Estimate in the near future."

I think we can all agree with that!

TDT

EvidenceKooky

You're welcome.

I presume you have a copy of the PEA from 26th. April 2022? I've put a DropBox link below for ease of reference.

https://www.dropbox.com/s/h0fncnm21eisxrs/2022_04_26-Preliminary%20Economic%20Assessment%20copy.pdf?dl=0

The table on page 5 and the illustration page 6 shows the pegmatite clusters (JORC V1/V2, non-JORC Northern Cluster K, Central Cluster P, Southern Cluster V, Far Southern Cluster W) that have been used to calculate the 205Mt JORC and non-JORC MRE. The PEA shows a JORC MRE of 71.54Mt which we know has increased through further drilling at V1/V2 to now stand at 81Mt.

What is noteworthy is the grade assumed for the lithium in all of the other non-JORC clusters. Every one is down as 0.5%. How likely is that? What they've done here is assumed a pessimistic figure until further drilling and assaying can confirm the actual ore grade. The only way that figure is going to go is up once the drilling is complete and the results confirmed.

If you want confirmation of that look at Chapter 7 in the Timothy Marias study. Table 3 shows tin grades across various different pegmatite clusters. We know, from various studies and presentations, that the clusters at Uis return consistent ore grades. That goes for the tin as well as the lithium and tantalum. In other words the table on page 5 of the PEA, increase the non-JORC lithium ore grades to 0.73% and the MRE to 278Mt.

And thats all before you include Lithium Ridge, Spodumene Hill and, not forgetting, all the other pegmatites at Uis or the drilled pegmatites that are open at depth and along strike.

The potential here is scary.

TDT

You don't see this being highlighted that often!

"Petalite concentrate commands a premium in the market as it can contain up to 4.4% Li2O. The crystal structure of petalite limits the occurrence of impurities when compared to spodumene which generally contains higher concentrations of iron and other contaminants."

Spodumene may contain more lithium but it also comes with impurities that are absent in petalite. Some idea of the additional processing costs for spodumene would be useful.

https://markets.ft.com/data/announce/full?dockey=1323-13956300-7Q7IAL2M09VKH9RL5OD8K0S4DT

I'm starting to wonder if they'e not hold back assay results from ML133 for a reason?

https://www.dropbox.com/scl/fi/i8iwywgniqvayhwmr4uji/2023_05-Presentation-Page-14.png?rlkey=939e2z7jq83l85q6268c6gpbs&dl=0

An MRE at ML133 with an average ore grade anywhere north of 1% would make Andrada difficult to ignore. A lithium equivalent and we'd be up there with the best of them.

TDT

Yes.

https://www.dropbox.com/scl/fi/zwwg62o02cltb21qe8uuc/Current-Metrics.png?rlkey=zuq72umg0uiveqd96bjhqpy5u&dl=0

Lithium grade - 0.73% = 61% Gross Revenue

100% Gross revenue lithium equivalent grade - 1.196%

I've ignored the tantalum at Pilbara.

TDT

This is a good listen.

https://www.youtube.com/watch?v=-jqZBB6AzC0

It seems the approach being adopted by AV has this issue very much at the forefront of his thinking.

TDT

I put the below post up on the other BB in response to another investor which some on here might find useful/interesting.

TDT

I presume you have seen the PEA and the 205Mt. resource estimate? A large part of that is non-JORC compliant but this presentation explains why.

https://www.youtube.com/watch?v=gHOpa2q6Ij4

The Q&A session towards the end covers the difficulty of proving up course grained pegmatites to the normal JORC standard. It seems they are going to proceed without doing any further work to prove up the pegmatites to JORC at Uis. The unfortunate consequence of that decision is their MRE is routinely referred to as being only 81Mt when in reality its 205Mt.

You might find this document of interest. The PEA 205Mt comes from only a fraction of the pegmatites at Uis and doesn't include anything for Spodumene Hill or Lithium Ridge.

https://www.dropbox.com/scl/fi/x324zgobvtdwulzhfpdjm/Timothy-Marais-0710901M.pdf?rlkey=n7bgvw17x0psp6h5m3iy8w5bv&dl=0

This study doesn't cover lithium being largely concerned with tin but it does give a very good indication of the extent of the pegmatites on ML134.

The other issue when it comes to trying to compare Andrada to say Patriot or Pilbara is grade. Neither of these two project have tin. The lithium equivalent grade if you factor in the tin puts Uis at about 1.20%.

If you consider Andrada's MRE, inclusive of non JORC, and grade, factoring in the tin, then 205Mt at 1.20% compares far more favourably on the Patriot Battery Metals bubble map presentation than currently.

Thanks for all your kind words and good wishes guys, needless to say they really are appreciated.

gilyard

Send me a throw away e-mail address to fitlikebowwow@gmail.com

TDT