One major item that I am not sure has been actually discussed...

One major item that I am not sure has been actually discussed here is the fact that the CAPEX that is being presented in this document is in just the cost of building the mine, rather it is the total CAPEX required for life of mine.




If you actually break this down into what is needed to build the mine and get it into operation you would be looking at 500 to 600 million instead of nearly 1 Billion.

These costs in particular will happen mostly over the 20 year period and only a small percent will be actually incurred during the build process.



So lets break this down further.

Moblan in Jointly owned with IQ 40% and Sayona 60%, so we will only incur 60% of the build cost. So I mentioned 500 to 600 million as what I think the startup CAPEX will be so lets split the difference and call it 550 Million.

This would mean that Sayona would be responsible for 330 million of the CAPEX requirements.

In Quebec starting in 2024 there is a 30% tax credit that we can apply to any and all new property we put in place to concentrate or refine critical minerals.

This would reduce the project cost by 30% so now we would be looking at 231 Million.

Now from there we have a few ways to complete the funding. The first would be to have funding from the government of Quebec and from the federal government. There are several billion set aside for this purpose and just last year Nemaska was granted 250 million to advance their operation.


The 2nd is via an OTA with someone like GM/POSCO or Ford. You might remember that Ford put forward 300 Million to help in the construction of Liontown, and GM put forward 650 Million to help in the construction of Lithium Americas.

I think if we use all of the tools in the chest we can easily make this a reality and it will not take a CR or dilute our stock any further.


One last observation about Moblan. This entire DFS was created based on only 30% of the drilling that was performed at the site, the remaining 70% has yet to be placed into a resource estimate. All indications that I have seen imply that the remaining 70% was actually on better ground than the first 30% of drilling. Even if it is just as good as the first 30% we are looking at around $7.3 Billion in NPV ... stay tuned there is a lot more to come in this space.

Moblan is still a monster even if management does not speak of it.