"Gangfeng funding our project through this raising just announced now."
Sorry, to put a little water into yours and all those "thumb up"-enthusiasts-wine
from that Ganfeng ann, although I'd like to have it accepted too.
In order not to be misunderstood, I am a strong supporter of FFX, you know.
Imho they need that money for other investments:
1.) First they need the money for the upcoming Bacanora acquisition
2.) t's likely they need the money to accelerate the scaling up of Sonora.
They can just start the entire project off at 100,000 Tonnes, if they choose to.
3.) Ganfeng Lithium has exercised its project participation right to acquire a 35% interest in the Sal de la Puna (SDLP) lithium brine project, in Argentina,
https://www.mining.com/ganfeng-lithium-exercises-participation-right-in-sal-de-la-puna/
From this ann:
- "The Chinese company in March announced an ambitious plan to increase its lithium production capacity roughly fivefold to 600,000 tonnes of lithium carbonate equivalent a year, as demand for the commodity used in electric-vehicle batteries surges again after a three-year downturn.
- The company intends to use 80% of the HK$4.85 billion net proceeds for capacity expansion, mostly at its lithium projects overseas, and potential investment in lithium resources. The other 20% has been earmarked for replenishment of working capital and general corporate purposes."
As I wrote before, I am a strong believer in FFX,
see my post as of 03/06/21 23:48 Post #: 53636680 in which I said the following:
"I'm not in the least concerned about FFX's lithium project to bear fruits, so I recently decided to convert my FFX options into heads to get my full allocation,"
So I only post the above, to get a little more realistic view for all here on board,
although I would definitely appreciate
@boy1 assumption.
