On the EIA approval, the Governor and Mining Secretary are very happy with the project. The notification meetings with stakeholders is expected to be the last required step before approval is granted. It was quickly clarified (to the questioner) that these are notification meetings, and not consultation meetings. The expected timeframe for approval was reported in today's quarterly (this last sentence is my words, not his).
On the offtake/capex funding solution, currently in negotiations with a preferred party. Will include an offtake agreement and a full-funding solution for the 10k expansion. Non-dilutive (Ed: so that report that was released circa early Feb was bogus). Sounds like a big player; I know other posters have suggested a Tier 1, and my thoughts are the same from the meeting. Solution isn't contingent on other milestones being reached. Recent lithium price decrease hasn't altered the terms of the agreement. Is expected to be finalised within the same timeframe as the EIA approval.
Results from the production well drilling program are expected in the coming weeks. Data is currently being analysed in Perth. Exploration drilling is expected to take another couple of months, then 2-3 months for results.
On Tonopah, they are focusing on getting certain approvals in place. Big one is water rights.
On new projects - they are very happy to be in the Rincon at the moment. Expansion will happen through resource increase.
On marketing, have focused on marketing to insto's. Mentioned the names of companies who have produced reports (Macquarie etc).
I was able to briefly speak with Pablo before I left the meeting and thanked him for his hard work. Seems like a nice bloke.
That's about it. The next few months will be VERY interesting if the pieces fall into place. My birthday is in July; it could be a very happy birthday indeed!!
AGY Price at posting:
39.0¢ Sentiment: Buy Disclosure: Held
