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Hi TriageIf I understood correctly, last meeting was 27 April...

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SeeTheWorld

957 Posts.

3205

08/08/23

22:27

Post #: 69233562
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Originally posted by triage: ↑

Thanks Stephan (though I do believe Findinggems and a couple of others have linked to that site in the past).

On that site highly relevant documents are:

the minutes of the meetings of the COMEX - https://comexqc.ca/en/comex-documents/ - which seem to be held towards the end of the month (though there can be several sittings of the same meeting spread over a couple of weeks and the coming couple of meetings will be held at the start of the following month). It does look like it takes COMEX's secretariat three or months to finalise and release each set of minutes. The most recent set of minutes released are for Meeting 413, which was held on 27 April this year.
the register of decisions by the COMEX committee - there is a separate register for all the decisions in each financial year - each decision entry into a register contains what the date of the meeting was where that decision was taken, the meeting number, the subject matter, the decision and the decision type. Decisions can be a final recommendation or simply correspondence asking for more information. If you look at the 2023-24 decision register there are only three entries, all to do with decisions flowing from the Meeting 413, the one held on 27 April. It looks like the 2023-24 decision register was last updated on 24 July (I read somewhere that the most recent meeting - the one I think MD Martin referred to - was held on 26 July so it looks like there have been no updates to the register since that meeting).

Now the delay in releasing the minutes and decisions - decisions and the minutes from the 27 April meeting seem to have been released a full 3 months after the meeting - could come down to two reasons: either the decisions were made at the meeting and it took Sophie Cooper, the committee's Executive Secretary, three months to release that information OR it could be that due to dithering by the committee members those decisions were made well after the actual meeting. Which explanation is right matters because if it is the former then the Committee may have already made their recommendation about the James Bay project whereas if the delay in the announcement is due to the Committee not having made a decision yet then I'm afraid we may still be waiting for a few months more.

In other words, another example of why I do not rate Quebec as a premier mining jurisdiction (they have the pretence of transparency in their permitting process but classic bureaucracy manages to obscure and bog down everything anyway). Operators like Winsome and Sayona talk of getting their Quebec projects up and running from go to whoa in five years. For me, in large part due to the third world permitting system in Quebec, 8 to 12 years is more plausible. It that is the case then projects near to approval stage like James Bay should be valued at massive premiums in my view (which frustratingly is not the case).

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Hi Triage

If I understood correctly, last meeting was 27 April followed by the 26 July and the minutes were updated on the 24th of July.

If that is the case it is completely normal. Over my working life, I have been involved in many, many committees. In most committees, the secretary does not get around to actually formalising and distributing the minutes until just before the next meeting. The next meeting is the reminder to the secretary that they should have done that task already. It is extremely annoying being on such committees because no one follows up on the action list until it is distributed, and then they scramble to get something done.

I, therefore, would not read much into that. Happens everywhere apart from well-run committees with an excellent and organised secretary.

If the meeting was held on the 26th then either we hear news soon, or not until after the next meeting. The longer it takes, the greater the impact will be on the approaching Canadian winter on construction activity. Yet another 'probable' spod supply is being pushed to the right of the supply/demand chart that all the analysts share. All these delays across the board only mean one thing....... supply will be less than forecast. The equation is all about demand. In the next 7 - 10 days, will the lithium spot price markets start springing upwards? That will tell us everything about the sp short term.
AKE Price at posting: $14.34 Sentiment: Buy Disclosure: Held
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