Totally agree
From the DFS:"Plant production assumptions for the optimisation were based on a 125 ktpa BPR (2-shifts) production rate for Year 1 to 3, a 187.5 ktpa BPR (3-shifts) production rate in Year 4 to 8 and expanding to 375 ktpa BPR from Year 9"
And just by chance 869kt over 7 years = 124.1kt pa.
So the offtake covers 100% of the DFS yrs 1-3 planned production using the same formula for pricing assumed in the DFS.
The conditions for the Debt term sheet with Longmarch included, DD, DFS & offtake.
Well I'd assume that offtake condition is now satisfied.
See the comment below too on how Longmarch fit in with all this.
Interesting too this comment
"The Company continues discussions with parties interested in producing Yellow Phosphorus in Angola and was pleased to introduce one of these parties to the Minister for Minerals, Resources and Petroleum last week in Angola."
Now we all know "one of these parties" is headed by Mr. Liang Feng, the Chairman of US $18 Billion Shanghai Putailai New Energy.
From the July 12 2022 Placement announcement:
"Minbos and the syndicate of cornerstone investors (being Longmarch Principal Holding Limited, HongKong Jayson Holding Co., Ltd. and Hoston Investments (Australia) Pty Ltd.) have signed a Strategic Cooperation Agreement (“SCA”) to develop Ferro Phosphate, Lithium Ferro Phosphate and Large-Scale Green Ammonia Projects."
So joining all the dots, Mr Liang Feng is almost certainly the partner of choice for the P4 project having participated in the placement and the association with Longmarch who are providing the finance guarantee that. IMO it was a representative from those parties that accompanied Lindsay in a meeting with the Minister for Minerals....
IMO the next announcement will be the activation of the debt term sheet which would take away any doubt the market has re financing the project.
It was a pity there was no reference as to how they'll fund the project (which is due for completion in 5 months) in this announcement.
Totally agreeFrom the DFS:"Plant production assumptions for the...
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