Here is something new that you MINRES LTHs haven't heard about...

Here is something new that you MINRES LTHs haven't heard about the "jewel in the crown" LJ Project.

Your CEO has labelled it a new Li HUB & which the market has now valued at $1,000M more in your MCap which you bought from POS for $15M cash and 1% royalties.

Date:17/02/21 Time:13:35:05
Post #:51077099

3 years ago I posted this analysis and thread as to the proposed sale of LJ for peanuts by then CEO Peter Harold. Seems MINRES has been after LJ from POS for 3 years in SECRET.

The prior POS CEO David Singleton in 2015 described the LJ project which POS acquired from Norilsk and which it acquired from LionOre for $900M as "the jewel in the crown".
He prepared it for mining restart with a DFS in 2015 and obtained $50M csh funding from the market for this restart of the LJ project until the NP dropped away and it was put on C&M again.

I posted this back in 2021 so you can now read this & realise the massive value and size of this LJ project that MINRES has acquired for a pathetic lowball $15M cash from your current $1,400M cash at bank:-


"Talk of selling LJ is NUTS...
LJ has 2 prior operating mines at higher grades than WSAs flying fox now of 2.9%, a new high grade discovery of Abi Rose in a known nickel area, a 1.5MTpa near new mill same size as at Nova that cost SIR/IGO $800M to build. Also if NH is right that this is a flying fox but better and better grades then WSA with a MCap of $700M ...as WSA would LOVE to get their hands on LJ dirt cheap plus a near new mill tripling the capacity and doubling their grades
Why cant POS do the same as WSA are doing at flying fox, we have a better mill and better deposit.
The path forward must mean to production as its a turnkey operation at LJ ready to go for some time,
remember DS spent $30M on it 2015 to start production there then the NP dived 8 to 4 and it got shuttered again.
With NP at 8.44 today (same as now), LJ can profitably restart even based on the prior DFS of 2014-2015
If it was able to restart in 2015 with NP at 6-7 it can today with NP at 8.44 way higher.
Its a $700M MC sitting and waiting on a plate.

LJ is worth way more than WSA is as it has nearly triple WSAs milling capacity of 0.6MTpa and way better grades at 5.1% rather than 2.9% and can even outproduce WSA current 14kTpa on its own with NO need for BHP tolling.
LJ is worth more than $700M to POS just the market doesnt value it that way as its a cash drain on C&M atm & NOT producing yet, bringing it to production will boom the MCap and boost EBITDA overall.
LJ is a highly profitable high grade large milling operation way better than Nova-Bollinger. On its purchase in 2014 the POS SP near doubled from 17c to 28c
LJ is the JEWELL in the Crown, a phrase coined well by exCEO, DS.."


I guess the POS BOD didnt know its value other than a pathetic $15M cash but the market under MINRES does hence the $1,000M increase in MINRES MCap since the LJ purchase. LJ is a Li Ni HUB with a massive near new MILL in "remarkably good condition" that would now cost MINRES $900M to build itself & the revenue stream can become  $500Mpa to $1,000Mpa imho.

MINRES got the bargain of the century with LJ imho.