The final stage of the feasibility study is expected to be completed by the end of October. [late as usual]
LMG recently announced that based upon Stage 2 of its feasibility study, its capital costs estimates had increased to be in the range between $46M and $51M.
In October a large sample of RWE fly ash arrived in Australia and ..... This ash will be tested over the next 6 months.
In March 2016, Memorandum of Understanding with a Japan-based company committing to purchase up to 4,000 tonnes (Offtake Agt.)
In June 2016, LMG signed a Memorandum of Understanding to appoint an exclusive USA distributor..(Offtake Agt.)
Under the USA-Australia fair trade agreement, magnesium produced in Australia is exempt from this import duty. LMG proposes to sell at least 50% of its production into the US market at this higher price. ..What is the story post-Trump??
In June, 2016 LMG signed a MoU with RWE Power AG..
The project involves four stages of development, being:
• Conduct process test work on the RWE fly ash
• Completion of a feasibility study
• Completion of engineering, procurement and permitting
• Construction and commissioning
Each stage is conditional on the successful completion of the preceding stage
8 December 2015 Presentation "320 Tramway Site Building" WOW! why on 18 October 2016 was the site up for sale when LMG spent a fortune for three years on options.
This site was supposed to be one of LMG's aces, so whats the plan? I mean other than living in denial and silence.
...and what about these projections?
• Jul 2016 commence installing equipment. . . . . . . . [What the hell???] • Jul 2017 start production of 5,000 tonnes pa plant
• Dec 2018 expand the plant to 40,000 tonnes pa
Am I the only one seeing LMG as a crock of .. or is this the darkness before the dawn?
There is a whole lot of news needed and at the moment the 5,000 tpa plant is almost admitting its a complete farce and nothing more than loss leader ... the project LMG needs before it can have a project. This is always fraught and typcally the purvey and the usual bailiwick and modus operandi of the white shoe brigade.
LMG technology is either a good idea and viable, or its not.
Spending $50m for the right to lose money continuously is completely flawed thinking. The idea that $50m is needed to get data to scale up is insane. Notice there are no more comments about it being viable at this scale and the thin reed LMG are leaning on, the higher USA prices most likely broke with POTUS Trump.
....my opinions my research .. my conclusions ... my big fat assed mistake in buying some years ago. I made mistake of thinking they knew what sticking to timelines meant.
More and more this looks like an ascertion I made ages ago, that LMG is a paid hobby for these retirement-ready guys spinning things out with absolutely no accountability for endless failed deadlines and non-delivery (other than funding - amazing how they get that right - every time.)
I am not sure when my opinions will roll over into facts, but for sure ... its LMG ... so it will be delayed.
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