@GARETH78 First thing the CFO or accountants/bean counters need...

@GARETH78

First thing the CFO or accountants/bean counters need to do is move the current cash balance into better interest paying accounts!
~ Holding circa $33m for $75,000 interest for the December quarter is abysmal in comparison to FFX's cash holding of $33m for $415,000 interest paid.

Further inclusions to your spreadsheet? or food for thought?

The following are my thoughts and/or opinions.

The indicative timeline for the "tranche 1" consideration payment is (currently) showing end of October 2024.
Currently and until the US$161m is paid, the percentage ownership of MLBV remains at 40% (LLL) 60% (Ganfeng)
~ this would entitle LLL to that percentage of profit over any sales of Lithium until payment is received.
+ bear in mind I am not inferring LLL gets 40% of sales profits, they will (should) get 40% of MLBV share of profit.

As an example, (arbitrary figures used) for ease, and also including the maximum 30% being taken up by the GoM, & 5% by an unknown Malian .. .. .

The Goulamina project ships/sells 100,000t of product during its ramp up period to end of October.
Lithium US$900t - AISC US$370 = US$530t gross x 100,000t produced = US$51m gross sales.
+ MLBV share - Gross US$51m = GoM 35% (US$17.8m) MLBV 65% (US$33.15m)
+ MLBV US$33.15m - Ganfeng 60% (US$19.89m) LLL 40% (US$13.26m)

Conversely, when "tranche 1" payment has been received, the percentage ownership of MLBV will change to 20% (LLL) and 80% (Ganfeng)
~ this would then entitle LLL to that percentage of profit over any sales of Lithium until the "tranche 2/final payment" is received.

Again, using arbitrary figures the Goulamina project ships/sells 200,000t of product during the period 1 November 2024 to 30 June 2025 (last day for final payment)
Lithium US$900t - AISC US$370t = US$530t gross x 200,000t produced = US$102m gross sales.
+ MLBV share - Gross US$102m = GoM 35% (US$35.6m) MLBV 65% (US$66.3m)
+ MLBV US$66.3m - Ganfeng 80% (US$53.4m) LLL 20% (US$12.9m)

* Adjustments for border fees, export fees? & shipping costs?
+ road transport costs and port handling are included in the updated PFS.


cheers