@anatol, do you know what is happening at Buldania. Still on the...

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02/10/24

21:02

Post #: 75951258
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Originally posted by anatol: ↑

There is no defined plan and timeline. It says 3-5 years. I don't think Sinomine will do any sulphate plant in Zimbabwe. Because the Zimbabwean Gov. wants them to do more there Sinomine just tries to stall the gov by those pledges and will try to extract spod from Bikita mine for shipping to China I guess. Chinese is not stupid. They know are aware of sovereign risks of African countries as well. They know they can't trust to an African country.

Also the Bikita spod can't compete with Australian spod, never with KV's spod btw. It's a very high cost feedstock for refineries in China. That's why Sinomine preferred to buy from LTR. I'm nearly sure Sinomine will ask for more spod from LTR even before the 100kt spod shipment is over. But I'm not sure if LTR will give them more spod than that at that cheap price.

Btw, do we now understand well why LTR management decided not to sell that low quality DSO ore to China? If we would sell it as DSO ore at the beginning of this year the best price we could get was going to be US$200/t I guess. Now we used that ore to produce 5.2% spod in the commissioning and ramp up stage and selling it at USD802/t in SC6 basis.

While we are processing that ore for selling to Sinomine and spot market, we are still stockpiling high grade ore from Kathleen's Corner pegmatites (as we have now reached them) and the high grade ore from underground. I think our guys are also producing higher quality spod (I mean SC6) than 5.2% atm as well, probably stockpiling it separately for sending to our main offtake customers later on.

Reaching to high grade sections of a mine is very important. You have to blend the high grade and low grade to optimise the ore feed to the plant. If you have no high grade ore left then you will have to feed the plant with the low grade ore and your cost will be very high.

We will never have this problem as we have an underground mine. That's why we will always be able to adjust our ore feed according to the customer order specs, whatever the market condition is, we will be always profiting by our spod sales whether the lithium price is low or high.

That is also one of the superior features of KV project which those stupid shorters can't understand.

I'm really surprised about one thing; majority of lithium market players still can't understand the complex fundamentals of lithium resources and mining despite they are being in lithium market for so many years (10 years for me). I know it's a little bit complicated and not simple like the gold, iron ore, coal, nickel mining but it's still mining. I think laziness is the main factor, because lithium market is very dynamic and revolutionary, needs constant research and dedication.

Fortunately we are extremely lucky that our management has done everything perfectly in all aspects of this business. Also our management is very lucky that they have very loyal and well educated (of industry) shareholders.

So the shorters and the Someone will understand well one day (if not yet) that they have no chance to beat us and takeover LTR. Not a little chance IMO.

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@anatol, do you know what is happening at Buldania. Still on the radar for more drilling or forgotten for now?

LTR Price at posting: 80.5¢ Sentiment: Buy Disclosure: Held
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