For those that didn't get to listen to the webinar, here are my notes
- perception of FFX overhang is just wrong
- Danaya resource restatement, mid Jan
- Drilled 100m deeper than previous drilling, no thinning with depth
- NE domain where 80% of resource is updated, 1st drilling results mid Jan
- about half way thru engineering, drafting & procurement
- Started night shifts for earth works inc TSF, lay down area for equipment receival
- 1st concrete pour in a matter of weeks
- Mid Q2 1st ore to mill around April, 1st concentrate around May’24
Full production end ’24, ramping up 2H
- Commencing concept study for stage 2, expect it to be online 12 months after ramp up of stage 1
- DSO will be from a different area so no impact on stage 1 construction, possibly different mining contractor
looking at Q4’23 Oct-Nov, might be able to bring it fwd 3-4 months
derisks the commissioning of drill & blast mining & crushing ops, as well as logistics, maybe try out a few trucking contractors
Min 2 x 30k, that is because we expect 30k shipments ea 3 weeks when producing SP6 at full rate
potentially end up with Ganfeng, but might be another operator
More info to market Feb’23 re DSO
- Working to put in a 2nd export port for risk mitigation and working with trucking contractors
- No time frame for the govt to take extra 10%
- 230 employees, was sub 100 a month or 2 ago
- Offtake pricing formula based on Hydroxide & Carbonate pricing, no spod pricing input, its a spot and quarterly index prices that are in the formula
Ric said he thinks the offtake is very fair & well structured
- about to kick off a study to see what we do with our 50% share of stage 2 offtake, 150kt is significant, enough for a hydroxide train 20-25kt hydroxide
- return to democracy over next 14 months or so, culminating in presidential elections in Feb 2024
- Management think weak sp due to perceived softer Li pricing, but in our case the FFX situation.
- Ball mill finished Jan/Feb, a month on a ship, then time to get to site
- Other packages are on schedule, they do a night shift if need be.
- Power contract under review, tender closed 10 days ago, so a fair way to go with selecting equipment & award
- 3 mining contractors shortlisted
- End of Q1 beginning Q2 next year, most contracts will be let, we’ll have a good understanding of the capex
- like to bring some analysts to site after building our airstrip in 2023
- We are very undervalued
(20min delay)