Hello everyone . I thought a new thread might be useful to try...

Hello everyone .


I thought a new thread might be useful to try to contain media reports about AJM, it’s off take partners and their related entities.....and any discussion about these subjects  into one place.


Here’s a start,
and cheers

GANFENG

NOVEMBER 2018
November 9, 2018 Reuters reported “Australia lithium miner Altura says it has signed offtake deal with China's Ganfeng
..  The deal will see Altura supply Ganfeng with 8,000 tons of 6-percent spodumene concentrate this year and a minimum of 70,000 tons per year from 2019 to 2021 in return for an $11 million payment next year.”....etc

MARCH 2019
In March Ganfeng’s board approved the company taking out an AUD$1.5+ billion credit line;
March 8, 2019 : https://www1.hkexnews.hk/listedco/listconews/sehk/2019/0307/ltn20190307831.pdf
.. “....... on March 7, 2019, the Resolution .........to meet the development, production and operational needs of the Company and its wholly-owned subsidiaries, ........... were approved to apply to the following cooperative banks for a comprehensive credit line of RMB7,500 million in total......”

MAY 2019
Ganfeng promptly met with Altura management - and possibly also visited the Pilganoora plant in early May
In the May 14 ‘Lithium Ion Rocks’ podcast (see here ) James Brown said they had met with Ganfeng “the week before last”. (This fitted in with the date of a Linked In photo of a VIP visit  ).
In the podcast he also said - Ganfeng was keen to maintain diversification of raw materials suppliers, and that Ganfeng was usually very interested in taking equity stakes in companies with which they had offtake arrangements..


JUNE 2019
In the June 13 Mastermines Interview James Brown reminded Ganfeng held 50% of Stage 2 which (as of June), was a ‘key attractant’ to the current and potential future offtake partners

• Mastermines – David Gillam. Considering the current supply and demand metrics for our spodumene concentrate, do you have any insight regarding stage 2. In this regard, have you had interest from possible partners to take an active role in stage 2 financing?
• Altura Mining – James Brown. Stage 2 remains a key attractant to current and potential offtake partners. The timing of Stage 2 needs to dovetail into the market, (and offtake partners), demand requirement. Ganfeng holds a 50% right to Stage 2, and other potential partners remain keen to secure any potential remaining tonnage which may include a financing component.

JULY 2019
In July Altura reported it had made a marketing visit to Ganfeng’s new processing plant as part of an exercise which had reinforced the positive feedback from customers in regards quality .
Janes Brown said ;“ I’m delighted that Altura has now established itself as a supplier of choice. ...”
and that the .....“China marketing visit provided further positive feedback on the quality and long-term demand for Altura Lithium concentrate...”


AUGUST  2019
More recently in respect to Ganfeng

• August 20; China reduced its loan interest rates “as part of market-oriented reform amid slowing economy
  
  • China lowered its lending reference rate to 4.25 per cent from the one-year official benchmark of 4.35 per cent...
  ://www.scmp.com/economy/china
• August 14, 2019 a Ganfeng move to issue new shares was initially approved, but then voted down ...” the overseas stockholders vetoed the move, placing a question mark over the company’s plans to fund further overseas lithium extraction and on Ganfeng’s ability to meet Hong Kong listing requirements for a floated company, after the proposed issuance of convertible A share bonds is completed.”
  https://www.pv-magazine.com/2019/08/14/ganfeng-lithiums-hong-kong-based-shareholders-rebel/ - according to another story, this might be put to a re-vote

Finally, getting past the ‘old news’, last Wednesday, August 28 in it’s first half profit statement (it saw a drop of 59% compared to Tianqi’s 85% drop)  “Ganfeng said abundant supply and falling prices of spodumene, a mineral mined for its lithium content, “can greatly reduce raw material costs” for the company, which converts the spodumene into lithium chemicals, and “buffer the impact” of low lithium prices. “

Spoiler : Ganfeng story 28 August 2019

COMMODITIES
AUGUST 28, 2019 / 10:09 PM / 3 DAYS AGO
https://www.reuters.com/article/us-...mmers-profits-at-chinas-ganfeng-idUSKCN1VI1P1
“Slump in lithium prices hammers profits at China's Ganfeng
Tom Daly

BEIJING (Reuters) - China’s biggest lithium producer, Ganfeng Lithium Co (002460.SZ) (1772.HK), saw its first-half profits plunge 59% as rising supply of the material used in batteries for electric cars caused a slump in prices.

Ganfeng, which supplies lithium used in rechargeable batteries to electric vehicle (EV) maker Tesla (TSLA.O), had flagged last month that it expected a sharp decline in first-half earnings. On Wednesday, it said its net income totaled 295.8 million yuan ($41.70 million) for January to June, versus a restated figure of 725.3 million yuan a year earlier.

Revenues rose 21% to 2.82 billion yuan thanks to bigger sales volumes, Jiangxi-based Ganfeng said, but slumping lithium prices meant the company was unable to cash in.

Prices of lithium carbonate, a chemical used in EV batteries, have dropped nearly 20% this year to around $9.25 per kg amid an “avalanche” of supply, consultancy CRU said last week.

Last week Ganfeng’s rival Tianqi Lithium (002466.SZ) reported an 85% plunge in net profits for the first half.

Still, Ganfeng said abundant supply and falling prices of spodumene, a mineral mined for its lithium content, “can greatly reduce raw material costs” for the company, which converts the spodumene into lithium chemicals, and “buffer the impact” of low lithium prices.

Ganfeng has interests in mines in Australia, Argentina and Canada and around 70,000 tonnes of lithium carbonate equivalent of annual conversion capacity in China.

It said last month that it expected first-half profits to fall by 45-65%, saying it would record losses of 119.14 million yuan from changes in fair value as a result of fluctuations in shares it holds.

In the second quarter alone, Ganfeng’s net profit totaled 43.1 million yuan, according to Reuters calculations. That marks Ganfeng’s worst quarterly result since the fourth quarter of 2016, when it made a 21.4 million yuan loss, Refinitiv Eikon data shows.”

What does  it all mean ...if anything for Altura ?
Does anyone think it possible Ganfeng might align with an Australian J/V partner so as to support Stage 2?

Cheers