JRV (ASX) Ann: 2021 AGM to be held virtually

Originally posted by Deme: ↑

AGM Notes.

All resolutions passed.

Bryce’s address.

Bond done.
Call from the Brazilians & excited by what they are seeing at the SMP.
Freeport Cobalt - introduces an operating asset. Linkages with the business.
Background behind Freeport Cobalt.
Largest, lowest cost facility outside of China. There are no peers.
Tried to sell in 2019. Couldn’t sell all due to anti-trust.
40% refining capacity to perpetuity - without capital cost exposure. ’Synthetic’ cobalt stream.
Trading book to U.S., Japan, etc.
Bought at the end of the cycle.
Another 20m in earnings this year.
Upside to cobalt price exposure.
Balance, certainty, creating cash flow 12-18 months before ICO comes online.
Rights issue to consider existing SHs, also need to bring more instos on to the register.
Crack management team. Expertise unparalleled in other organisations.
Relationship with Mercuria is exciting.

Q&A

Trading halt for US will come off soon.

When will future earnings forecasts come through?
Future earnings guidance - CFO to focus on that and announce.

Discussions with USG? Detailed negotiations with all three departments are ongoing. Look forward to those continuing. Our work resonates with USG. Finland news received positively.

Other metals beyond cobalt?
Nickel refinery (SMP) - need to fill that.
Ni and Co main focus. Will continue to review.

Split - non-compete comes off in 3 years. Revenue split? Can’t comment beyond material publicly released.

Nico-Young - needs a partner. Discussions continuing with Japanese and South Koreans. Will see the light of day - but LT play.

Bond - 12.5% high? Only time we will issue a high interest bond - guarantee that. James comment - important feature is flexibility. 2 components. Commercial flexibility - no external offtakes locked in. 2nd - repayable in one lump in 5 years from now. Had long discussions with bankers. One had to go first. Bond before equity. Equity needed the bond first. Investing into a fully funded story.

Further acquisitions? Building an op biz. Most likely yes within 5 years, but mainly focussing on ICO and SMP at this stage. Non-organic growth will form part of future trajectory.

Liquidity now (before was terrible). Brings a different investor into the business.

Does FC have revenue today?
Yes, it does. Look at the materials available released to the market this week.

BHP doing deals with Tesla. JRV doing the same? There will be commercial arrangements, but do not want to commit future product to a single customer given the thematic.

Will Melbourne remain as corp HQ?
We’ll see.

Peter’s comment.

Have raised significant capital.
Pouring concrete at the ICO.
All long items ordered.
In production in July 2022.
Advancing SMP.
Bond and equity raises - transformative. Put in an op biz with sustained cash flow.
Massive 12 months.
Strategic vision - thanks to Bryce.
Building a world-class battery metals company.
Very focussed on SH return.

Expand

Originally posted by slammer81: ↑

Sensational notes... just like being there.

Some great signals from Bryce into what the future holds. Not super focussed on blowing his or the companies own horn; very strategic and you can clearly see the strategy.

Good comment on SH's having a look at current and future CR's, (if I heard correctly). Adding along the journey would be ace.

Expand

Thanks guys for the comments...this is really a great thread to be involved in what with the sharing of info and constructive posts.

I really like the approach of "buying" refining capacity rather than having to commit huge amounts of capex required for a refinery/plant ownership.

Given Ni and Co refining capacity is going to be stretched going forward JRV really has a first class seat in the refining/EV market.

ICO and Nico-Young will also ensure the operational integration from mine to market.

Wasn't quite sure what i was getting into back in April this year but now looking forward to participating in the CR and increasing my holding.

GLTAH

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Last 1.2¢		Change 0.001(4.55%)		Mkt cap ! $31.08M

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1.2¢	1.2¢	1.1¢	$1.984K	171.5K

Thanks guys for the comments...this is really a great thread to...

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