Leo needs to rapidly use any current (short term) leverage it may have from this project in Mali to buy a Lithium company or project in Australia or Canada.
The Malian minister of Mines and the new Malian State Run Mining company (as of November 2022) are coming after all Foreign Mining Companies operating in Mali.
(Quote - From the current Malian Minister of Mines)
Despite the existence of these enormous (Malian Mineral) resources, the populations benefit very little from the spin-offs, because of the low income from mining, which consists for the State of entrusting the management of the mines to foreign companies which, in return, only pay the state a small percentage of the income generated.
(End Quote)
That about says it all with regard to current thinking by Malian mineral resource politicians.
And no doubt, this attitude is further promoted by the Wagner Group.
Everyone here needs to do some more in-depth research "
in French" into Malian resource politics, and the people involved, and their political and financial reasons for creating the new Malian State Owned Mining Company in November 2022, and what effect it will potentially have on foreign mining companies in Mali. Sovereign risk in this locality is becoming extreme IMHO.
http://news.abamako.com/h/277327.html
Gw
(20min delay)