But then the positives:- Mining Permit issued under prior code...

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BargainSally

388 Posts.

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04/10/23

09:28

Post #: 70161238
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Originally posted by BargainSally: ↑

Well yes, that's what the ANN said:

However, if I were to piece together the following items in my suspicious mind, I do get a niggling feeling:

- Kodal suggesting they are looking to be the first operating lithium mine, although they will be more than 12mths away from production, whereas LLL is due to be commencing production June 2024 (8mths away). For some reason, this keeps niggling at me.

- Ganfeng became the majority holder in the JV whilst we were in talks with the Govt, instead of putting funds directly into LLL.

- FFX stench

- SMH article & that other article (albeit some factual errors which need to be corrected in both)

- Numerous 'good feeling' Goulamina video media articles being released a few weeks back

- Sharp 60% decline upon opening after first suspension

All sounds fair enough, however it doesn't instil a huge amount of confidence in my suspicious mind above, in regards to this point:

"Leo’s view was that releasing such information would offend the Government of Mali and prejudice Leo’s negotiating position"

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But then the positives:

- Mining Permit issued under prior code ... (Using Kodal as a precedent, we should still remain under the prior/existing code, not 2023, unless possible minor amendments?)
- Low capex/opex
- JV Partnership with Ganfeng - fully funded project with offtake agreement in place
- Under construction - to become Tier 1 project
- Construction still underway
- Employment notices still being posted online
- Simon & Rick addressing the correspondence being ongoing etc in both the Africa Down Under Presentation & Teleconference Presentation, noting a positive relationship with Mali Govt, and the assistance of Ganfeng in discussions
- Excellent Ore Reserve update due

LLL Price at posting: 50.5¢ Sentiment: Hold Disclosure: Held
26 Upvote

0 Great analysis

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