RE:RE:DFStiger2201 wrote: I just quickly went through the DFS, and a few of things to comments:
1. CAPEX increased about $50 Millions to $370 Millions. With inflation, it is still low Capex per tonne of Li project;
2. OPEX increased about $40/tonne
to about $3,950/tonne, it is still the lowest Opex project, makes tonnes of money.
3. The NAV was $1,144 millions (PFS), this is revised number, and different from this NR, now the NAV is $1,129 millions, basically the same.
I don't agree with the Lithium Carbonate price they used for calculate the NAV. For PFS, $11,882/tonne was used, now $12,321/tonne is used for the DFS. The $12,321/tonne is TOO LOW (less than 50% the current Spot Price), and artificially lower the NAV. The Current Lithium Carbonate is $26,000/tonne, although it is spot price, the lithium shortage will be with us for a long time. I believe it should be at least $15,000/tonne, even higher.
3Q is so great project, if it is gone, it is so hard to find any quality project, that is remotely close to 3Q. How our management is so willingly to give away 3Q? They must get something in return for themselves.
I WILL VOTE NO.
SAD, SAD, & SAD!
MAD, MAD & MAD!
tiger
Specific wrote: [url=https://https://stockhouse.com/news/press-releases/2021/10/26/neo-lithium-announces-definitive-feasibility-study-results-on-its-3q-project][/url]
Tiger,
you gotta fix the OPEX number in your post.
One could otherwise start to believe you're one of the
"fixers".
Some quotes from the PR:
“A technical report summarizing the FS will be filed on SEDAR within 45 days of the date of this news release.”
What is this ".... summarizing the FS ...."? We paid for a full report of the DFS, publish it!.
In case we do finally get the full report, it will only be available way after the November proposal for sale as, “The Technical Report, which is currently on QP review stage ….”.
However, as far as the QP are concerned: "...... and each has reviewed and approved the scientific and technical disclosure in this press release."
How can they have approved the information of the NR when they have not yet completed their review of the FS?
“……., but the design footprint for ponds and plant already considers an expansion to 40,000 tonnes”
“……. and reserve is large enough to justify larger production by shortening the mine life.”
So our money has already been used for the benefit of the proposed purchaser, while knowing that the premise of 20 years at 20K tons is a misleading dataset.
"Life of mine deferred and sustaining capital costs are estimated at $143.5 million, and closure costs are estimated at $12.8 million over the 50-year production period."
So, that's much less than $4 million per year.
Really something to worry about when minimum yearly CF is ($12,320 -$2,954) x 20,000= ~ $185 million/yr.
Environmental Permitting
Waldo/Carlos presented their philosophy and we believed them, (get it as late as possible as the validity has time restrictions), late was their purpose.
Boy, will they be happy to now be able to lay the blame on COVID.
Property Acquisition
Maybe, but in my present state of mind it smells fishy.
Let's NOT forget Gabriel Pindar. COO and one heck of an important "Director of the Company".
Yes, the family is divesting some, but we'll keep >100K shares for the NO vote.
As "Greek to me" has explained, the difference is worth the wait (in our case >$25K)