Hello everyone .
I thought a new thread might be useful to try to contain media reports about AJM, it’s off take partners and their related entities.....and any discussion about these subjects into one place.
Here’s a start,
and cheers
GANFENG
NOVEMBER 2018
November 9, 2018 Reuters reported “
Australia lithium miner Altura says it has signed offtake deal with China's Ganfeng .”....etc
MARCH 2019
In March Ganfeng’s board approved the company taking out an AUD$1.5+ billion credit line;
March 8, 2019 :
https://www1.hkexnews.hk/listedco/listconews/sehk/2019/0307/ltn20190307831.pdf . . “....... on March 7, 2019, the Resolution .........to meet the development, production and operational needs of the Company and its wholly-owned subsidiaries, ........... were approved to apply to the following cooperative banks for a comprehensive credit line of RMB7,500 million in total......”
MAY 2019
Ganfeng promptly met with Altura management - and possibly also visited the Pilganoora plant in early May
In the May 14 ‘Lithium Ion Rocks’ podcast (
see here ) James Brown said they had met with Ganfeng “the week before last”. (This fitted in with the date of a Linked In photo of a VIP visit ).
In the podcast he also said - Ganfeng was keen to maintain diversification of raw materials suppliers, and that Ganfeng was
usually very interested in taking equity stakes in companies with which they had offtake arrangements..
JUNE 2019
In the June 13
Mastermines Interview James Brown reminded Ganfeng held 50% of Stage 2 which (as of June), was a ‘key attractant’ to the current and potential future offtake partners
Mastermines – David Gillam. Considering the current supply and demand metrics for our spodumene concentrate, do you have any insight regarding stage 2. In this regard, have you had interest from possible partners to take an active role in stage 2 financing?Altura Mining – James Brown. Stage 2 remains a key attractant to current and potential offtake partners. The timing of Stage 2 needs to dovetail into the market, (and offtake partners), demand requirement. Ganfeng holds a 50% right to Stage 2, and other potential partners remain keen to secure any potential remaining tonnage which may include a financing component.
JULY 2019
In July Altura reported it had made a marketing visit to Ganfeng’s new processing plant as part of an exercise which had reinforced the positive feedback from customers in regards quality .
Janes Brown said ;“
I’m delighted that Altura has now established itself as a supplier of choice. ...”
and that the .....
“ China marketing visit provided further positive feedback on the quality and long-term demand for Altura Lithium concentrate...”
AUGUST 2019
More recently in respect to Ganfeng
Finally, getting past the ‘old news’, last Wednesday, August 28 in it’s first half profit statement (it saw a drop of 59% compared to Tianqi’s 85% drop) “
Ganfeng said abundant supply and falling prices of spodumene, a mineral mined for its lithium content, “can greatly reduce raw material costs” for the company, which converts the spodumene into lithium chemicals, and “buffer the impact” of low lithium prices. “
Spoiler : Ganfeng story 28 August 2019 COMMODITIES
AUGUST 28, 2019 / 10:09 PM / 3 DAYS AGO
https://www.reuters.com/article/us-...mmers-profits-at-chinas-ganfeng-idUSKCN1VI1P1
“Slump in lithium prices hammers profits at China's Ganfeng Tom Daly BEIJING (Reuters) - China’s biggest lithium producer, Ganfeng Lithium Co (002460.SZ ) (1772.HK ), saw its first-half profits plunge 59% as rising supply of the material used in batteries for electric cars caused a slump in prices. TSLA.O ), had flagged last month that it expected a sharp decline in first-half earnings. On Wednesday, it said its net income totaled 295.8 million yuan ($41.70 million) for January to June, versus a restated figure of 725.3 million yuan a year earlier. 002466.SZ ) reported an 85% plunge in net profits for the first half.
What does it all mean ...if anything for Altura ?
Does anyone think it possible Ganfeng might align with an Australian J/V partner so as to support Stage 2?
Cheers
(20min delay)