You clearly havent read MINRESs own announcement or your own CEOs statements on LJ purchase & its scope and scale as a former large production & mill hub for Norilsk & LionOre,
so see here -
"March 18, 2024
MINRES TO DEVELOP LITHIUM PROCESSING HUBMineral Resources (MinRes) today announced it intends to develop a
lithium processing hub in the southern Goldfields region after entering into a Binding Heads of Agreement with Poseidon Nickel to acquire the Lake Johnston nickel concentrator plant and tenure. The acquisition aligns with the strategy to
process fines from MinRes’ Bald Hill and Mt Marion lithium operations, new discoveries made by MinRes in the region and third-party ore
in exchange for project equity.
Lake Johnston has a nickel concentrator plant with a flotation circuit that has front-end capacity of
1.5 million tonnes per annum and is capable of being converted to treat lithium ores, including dense media separation fines. The asset is licensed to operate to 2041 and has an active groundwater extraction licence. On-site infrastructure includes an
airstrip, 200-person camp, electrical infrastructure, workshops and laboratories.Internal studies by MinRes indicated repurposing a brownfields site would reduce the approvals timelines by circa two years compared to a greenfields development, in addition to significant capital savings. Located approximately 185km southwest of Kalgoorlie, the acquired tenure covers 86km2 with one exploration license and 10 mining leases. MinRes will own the tenure outright, including all mineral rights.
MinRes Managing Director Chris Ellison said: “This is an exciting opportunity to develop MinRes’ third lithium processing hub in the Goldfields and the first to include flotation capacity to treat fines.
“We intend to bring our expertise in spodumene production to Lake Johnston, which has the potential to service projects throughout the world’s most prospective region for lithium.”
MinRes will pay $1 million on execution of the Binding Heads of Agreement, $6.5 million on completion of the Sale and Purchase Agreement and $7.5 million 12 months after completion. The transaction is conditional upon satisfaction of several conditions.
Full details are available in our
ASX Announcement."
"Poseidon Nickel flings mud at Mineral Resources over previously agreed Lake Johnston concentrator dealAdrian Rauso The West Australian
Wed, 1 May 2024 10:25AM
Adrian RausoChris Ellison’s ambitious plan to open up a lithium processing front for Mineral Resources in the Goldfields could be headed for the rocks. Poseidon Nickel says that Mineral Resources has
virtually reneged on a $15 million deal signed in March to buy the Lake Johnston nickel concentrator plant and tenure, about 185km south-west of Kalgoorlie."
WHY dont you listen to your own CEO CE about LJ purchase?!
CE stated publicly :-
“
This is an exciting opportunity to develop MinRes’ third lithium processing hub in the Goldfields and the first to include flotation capacity to treat fines. “We intend to bring our expertise in spodumene production to Lake Johnston, which has the potential to service projects throughout the world’s most prospective region for lithium.”the MINRES ASX announcement outlined LJ has :-
- a massive 1.5MTpa near new MILL (only used for 4 years but in remarkably good condition and a turnkey restart (stated the prior POS CEOs PH & DS) convertable to Li production
- a large plant with a flotation circuit
- staff camp for 200
- airstrip and
- crushing circuit
- 3 prior producing mines at EA MH AR
- 13km strike length at WUU new massive discovery
- acquired tenure covers 86km2 with one exploration license and 10 mining leases
And this from your own CEO _
"LJ has the potential to
service projects throughout the world’s most prospective region for lithium.”
And then he terminates in breach of contract without notice or warning or any due diligence after 1-2 years of secret talks and inspections !
Its called BREACH OF CONTRACT
CE got scared off by someone else just like he did with AGO by AFAF & Gina Rhinehart losing a whopping $20,000M value for MINRES holders which Gina took for peanuts and made a $20B value and $4Bpa revenue fortune off instead of MINRES.
I wonder why CE pumped Lj then dumped LJ contrary to legal and financial considerations yet again, must be once again like in AGO in fear of someone else bigger ?!
The Nova MILL & MINE smaller than LJ nearby is worth $4B to IGO
Now MINRES faces paying out POS for damages and getting nothing at all here.
Thats what you get when you sign contracts and then BREAK CONTRACTS !
(20min delay)
