it’s probably in our favour to not rush things. If you’re on the buy side of a transaction, you tend to pay a lot more for the product if you know the extent of competition from other buyers (as a general rule).
How many 70-80MT (or more) hard rock deposits are there around the world with production due in 2 years time, for which there is currently no encumbrance on the offtakes (as well as a share register totally clear of strategic stakes)?
I haven’t done a comprehensive analysis but off the top of my head anything producing in 2024 already has offtakes well and truly locked in as well as strategic interest on the register - e.g. LTR.
LTH.v is a few kilometres from us and wants to produce in 2025 but it’s a much smaller operation (~30MT). ATLX says they will be in production Q4 2024, but has no JORC, no studies and has already signed offtakes (they claim phase 1 will have 150,000tpa - but there’s no way to verify this).
In Africa I think it’s A11 and LLL next most likely to produce but LLL has been suspended for months now while A11 is a smaller JORC and has signed up 50% of the offtake already.
Canada next up is AKE James Bay but stll no permit approved and not sure if they’ve signed up any offtakes for this?
In Australia LTR is targeting 2024 (as above), but after that the newer discoveries won’t be in prod till 2028 or after e.g. AZS WC8 etc. GL1 is a smaller deposit and has issues with the economics and at best might get something out of the ground late 2026. DLI - huge uncertainty give slow updates at Yinne deposit and Mt Ida only has 12MT
LRS chart, page-6994
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