FMG white elephant hunt - DRC chapter

Hi all

FMG now for several years has been on the hunt for a white elephant (lithium resource).
Early this year, a small, specialist online journal called Africa Intel, reported Dr. Andrew Forrest was interested in refining coltan and lithium as well as investing in copper and gold— all this is arteries on t he main project youre likely familiar with, the green hydrogen energy hydroelectric project. This reporting by Africa Intel was independant. Further and more recent, my Congolese sources on the peripheral to the bureaucracy advise that Twiggy has tried very hard to acquire the Manono lithium project mining license but has been officially Denied scope to engage ministers of the DRC on the matter further. This is a massive blow to the white elephant hunt, unless any one has other information?

if any one can further verify this sentiment for Manono lithium reserves, please advise.

Now, I make a distinction with the worlds largest known hard rock Spodumene reserves at Manono, 1.65% (and growing), and it’s majority project % owner, AVZ Minerals, whom Twiggy may not have made an offer to for its share.

in any case, the final matrix for AVZ’s Manono lithium Tin Operation “MLTO”, is still being sorted. But not for much longer.

If Twiggy could make an offer to AVZ, what do you think would be fair value? Bear in mind, the Bankable Feasibility Study, is currently undergoing dotting i’s & crossing t’s checks. So NPV evaluations based on the original DFS would be obsolete with project interests, taxes, scale of strategy and JV partner/s all to be revealed.

below image shows Dr Forrest with His Fortescue Future’s CEO, Julie Shuttleworth, in the DRC
(image: copyright owner; unknown, 2021)