PNN (ASX) News: PNN Power Minerals Says Executes Binding Term Sheet With Summit For Incahuasi

Originally posted by beefarmer: ↑

If the link doesn't work, just find it thru the article itself on their site, shead.

To summarize this short and sharp and constantly re-iterated Mena commentary - stay tuned in the near term.

But what does near term mean to you and what does it mean to the market ?

There is a lot to like about what is happening here and the main drawcards I get from this are that Summit want to show the world how
efficient they are and we are the company to help them do that. The Americans will be watching attentively to what they can do with their
20 million dollar plant in terms of the 'green' potential. That's why Summit and their particular DLE process has to shine both economically,
practically and most important to me, environmentally. We have seen how very lucrative the PFS of Rincon could be. You do not need 3 million tonnes of
Li resource in the ground and another 500 million dollars to convert it. Summit knows this hence their commitment. 7000 tonnes brings in a stack of
money, albeit we keep 51per cent.

So to Rincon and our Chinese partners. PFS was simply supurb with plenty of upside. Now to do a DFS in the short term. What's short tern I ask? Well this will take in my opinion another14 to 18 months and where does the money come from? From Chiiina of course, just ask Trump. But what does Mena have to give up here? Dilution friends, same as Summit. So like the american detective clint eastwood in dirty harry callahan, you have to ask yourself
one question. Do you want 51per cent of something big or 100per cent of nuffin', 100 per cent of a doughnut? You feelin' luck, well are ya punk?

It's that simple and everybody knows it. You can dilute the cordial till it tastes like water but Power diluted will still taste like cordial. mena and the Board know that we have a great product in a terrible Lithium market. But it's cyclical.

We will certainly have to wait another 9 months before any drilling occurs with the Rio JV. Shame. Eighteen months of nothing. David's enthusiasm
for the Pink Slipper had him with a Cinderalla quite excited but by now, the only thing keeping him going are Hugh Hefner's little diamond shaped
blue pills. Sadly a little premature excitement. If you want to see one of the funniest scenes catch Nicholas Cage in dream Scenario when he
gets back to the apartment of a young dreamer and se what ensues. Hilarious yet wonderfully weird.

Anyway we have good management without question. Mena is a little bit like Elon Musk here. All positive and on a mission even though he knows that
he really isn't the one steering the ship. He may look like Captain McHale from Mchales navy but others are pulling the strings. Considering
our status and our low market cap, I don't think that's a bad thing. Time to have a coffee and a jam filled doughnut that's oh so sweet.

Expand

what gives you 9 months for the pink slipper. Interesting to see if a ELA happens how long before a drill can hit and then if future approvals for mining etc etc can be achieved. It’s the Hail Mary. A ELA has been going since early 2000’s and late 1990’s.

a key is rio. If they are keen I’m sure they can easily redirect some resources. My guess was a bit earlier than Mena if ELA will be granted. I would say March however depends on the paperwork.

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what gives you 9 months for the pink slipper. Interesting to see...

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