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Looks like at 14:23 today someone ignored the advice from Monty, nearly 2M at 3.58. Nice size trade.
I see SAV have commented in 'X' (formerly known as twitter) about doing interview with sicnoticias.pt. Looks like SAV are already making good on the comments in the results to be taking the lead on real information and not leaving the narrative to the anti-miners.
Until now all interviews seem to have been in response to a negative story, hopefully this is the first of many where SAV is leading the article.
Losses are from increased activity in taking project forward
Fund Raising was over subscribed
Recent drilling results very good
Plenty of planned news to come within weeks (Resource upgrade, Partner Update, etc)
Could be watched but depends what side of the fence you are on. In my honest opinion, there is certainly a high chance of Missing Out when news comes.
Be interesting to hear how the weekend goes....I hope they stick to their principles, so no phones (or anything that uses Li), no wood/oil burning fires, no meat from animals that produce large amounts of methane, no cars (ICE or EV), no removing water from source, no bottle water unless in a recycled produced container, all energy directly from Solar/Wind and used immediately (not stored), sound kept to below 55 decibels to the nearest house, etc.
Happy Easter all....that's Q1 done and I'd say some decent progress made;
Interesting Drilling Results
Shortlisted Partners, now in DD with them
New Local Shareholder who seems to have ear to the ground
New Government appears to understand what is required to tap into EU funds for Portugal
Any press talk on Operation Influence has dropped links with MdB
59% SP rise in Q1
Let's see what Q2 can bring. I'm expecting resource upgrades, partner progress, more local/national engagement, some box ticking exercises to start/complete
Totally agree.....I don't see the there's much free stock available. Those that got in recently have probably already taken a profit as we saw recently from that post a few weeks ago from Tiger.
Wonder how they are feeling now after being all out at about 2.20....ouch.
I think the interesting/important quote is;
He told reporters: “I hope that we don’t (lose funds), albeit we know that some of the commitments that the (ceasing) Portuguese government made have not been complied with, which has led to delays in the payment of some tranches”.
As you say Oscar, looks like Portugal are waking up to what a great opportunity they have and also that the EU just won't wait for ever, they will give the money to someone else. So if they don't make progress they throwing away the chance for 'Free' money.
Looks like the new PM wants to tap into that EU money that's available.....we know that EU is keen for this money to go into green, sustainable and EU independence projects.
https://www.portugalresident.com/montenegro-in-brussels-pledges-portugal-will-catch-up-in-execution-of-prr/
You're probably right, I'm just an optimist and think that one day the locals will see that when looked at all the overall benefits of MdB this is great opportunity for them. Especially the young people in the area who will have chance to stay local/move back to the area. That money has been invested in the area, etc.
But as a I say, I should probably stop being an optimist and accept that SAV have to do what they need to do.
W69...you talking about the Sunday Times article? If so, I don't see this as being a new legal case, but the one looked at last year. I just think the ST needed to report a reason for the Portugal elections last Sunday and used some bad journalism to connect the elections to SAV/MdB. Everything in that one-sided article was old news in my opinion.
I hope that once it comes to crunch time, SAV will look at using the legal powers available. But as a last option, I would really like MdB to be done in partnership with locals.
That is an added bonus, is that the latest purchases have been since the election. This would suggest that someone local and who I would expect has a much better understanding of the pros/cons of the result, isn't put off by the result or the 'hung' government.
Looking forward to more positive news in coming months.
I agree with you CM, though being anti-mine can't be that important to most in Portugal given that the AD alliance only increased votes by about 200,000 and MPs by 2. So it's not really something that seems to have been an item for most of the country. I accept though at a local level this will be different.
I think if the incoming government wants to make significant changes to Li Policy then it will need to get his passed, which will be hard for them and require they use the Enough party votes. Is this something they would want to rely on or be seen to be using?
So as you say, maybe we will just be left alone for now to progress through to a stage where it will cause serious damage for Portugal (at an EU level) if they then take action to block progress for EU Li independence.
Sad details to know, though good place to look was CNN Portugal (have a very nice 30% share owner)....using the browser 'Translate to English' option gives a good summary of the situation on the numbers and some details on the different parties.
Politics is odd though, looks like in 2024 the UK could be in a minority with elections this year, where by we look to be moving from a right leaning to left leaning (other will decide if Sir Keith is even left) government. If a week is a long time in politics, a year must be multiple lifetimes.
Yes and No, at a high level the AD Alliance (maybe similar to 2010 to 2016 Tories) have won most seats and votes, though have come short on having a working majority b y about 36 seats (got 79 when needed 115), so short by some distance. The previous party in charge, the PS (Maybe Gordon Brown Labour) won 77 seats and got less votes. The major 'winner' was the Enough Party (Chega in Portuguese)- Could say they are a Reform/2024 Tories party and got 48 seats
So on the face of it, it would seem that AD/Enough joining together would form a coalition government, but AD don't want to join with Enough due to their non-centre/far-rightish agenda. So that leaves them only with all the other parties to form some type of Rainbow Government (a government of all colours), but that only reaches 101 seats so still 14 short.
Even with 4 seats to declare it's not going to work.
So looks like AD alliance will be in charge but with a minority and have trouble if wanting to do anything major, the big one is always passing a budget. Not passing a budget will normally bring down a government
Could be that the PS will support the AD in passing a budget (if the polls show that PS would not win a new election or a new election would give AD overall victory), in return for certain conditions, one could be don't stop Li mining.
I would have thought our new investor would have considered this (and maybe known the answers) before spending money on circa 5% of SAV. Just another chapter in the SAV story.
W69....the current opinion polls would suggest the AD Alliance (PSD and CSD parties) are on track to be the largest party. So maybe a change from the Socialists.
I think you're right about the PSD view in 2022, but as we know from UK what is a view in opposition can often change when faced with real world. So as much as I agree there could be headwinds if a change of party in charge, it doesn't have to be all bad news. Could be easy for them to say the decision was taken by the previous administration and to late to change, not our fault blame the previous guy (think how labour have said they can't change the HS2 decision)
For Portugal they need investment and money from EU, with Li Mining be one area they can get this. So I think whoever wins will see the EU pushing for progress to be made ASAP.
If it's another headwind, well we're all use to these now, being a SAV shareholder does feel like being in an endless swimming pool at times.
Over £1.4m invested into the stake, that is serious stuff.
In my opinion it shows that someone is waking up to the fact that Portugal needs MdB, and needs it ASAP.
It will be interesting to see what happens after the election this weekend, if a new PM is from the previous opposition party will the tone on MdB change? We know from UK experience that opposition leaders can say one thing when not in power, but change opinions when in or closer to power. Will the a new PM be supportive of MdB as they know it's what Portugal needs?
If so, if that new PM is from the same party as the local mayor. Will the local mayor be 'guided' by a more senior member of the party to stop protesting about MdB.
Haven't we all moaned on this board before that we don't get any updates from the management. So now they're giving an update, that they've moved from a larger list of potential partners, to a smaller list that will do much more detailed review (Due diligence). This could take weeks/months.
So had we not got this update, we would probably have all been moaning that there was no news, so probably meant all possible partners had done a runner.
Then there's the update that SAV are targeting EU/Portugal funding, again something we've all moaned about that SAV have not commented on enough.
So yes, I would like more details and to know when we have a partners/EU/Portugal financing but for now I will take small updates over no updates.
Have a good day all.
Sp is only up to reflect that close last night was 1.80 based on a UT trade at 1.80, not mid price. The mid price is now 1.825 based on 1.75 - 1.90 quote. Not sure about the trades, these could be just moving stock between books (if that is a term).
08:10 RNS - Did someone have a late start this week :-)
Still worth the 70 minute wait over the normal 07:00 RNS to get these results. Showing how much the resource can be increased adding to the already competing reason for MdB to be progressing into production ASAP for EU Li independence.
I know I'm blinkered to see the SAV side of the argument only, but I've said it before and will say it again. I see the MdB project as being much bigger than just getting one Li mine up and running in Portugal/the EU. I see it as the launch pad for the whole Li/Battery chain/EV Manufacturing industry in the EU.
If MdB get's killed off, then Li mining in Portugal is dead, who would want to invest after seeing what SAV have been through. With no Portugal Li, where will Li come from for the Batteries to be made in the EU? Then with no batteries, how will the EV's be built?
I think the politicians are lucky at the moment, the EV market has stalled a bit due to fewer models coming on board, the cost of living squeeze and some clever campaigning by the OEMs. But give it a few years, EU sourced Li will be needed and the EU has to be ready for this, will the politicians keep their heads and the Li stuck in the ground?
China must be laughing at what the EU is playing at.