GREY:NMKEF - Post by User
Post by
HabberPleaseon May 30, 2018 6:48pm
323 Views
Post# 28102086
Low SP, but on the plus side they…
Low SP, but on the plus side they…Addressed their “lack of experience issue” in order to execute and complete the project in time with the addition of…
- A Softbank representative to be named on the Board of Directors.
- A Ressources Quebec representative (Patrick Godin) named on the Board of Directors.
- A yet to be named “Independent Engineer” who shall, inter alia, monitor the Project Construction Plan, the Master Control Budget, countersign the Issuer’s requests for drawdown from the Escrow Accounts, review any construction reports and verify that Project Completion has been achieved.
- A Project Management Consultant (PMC) Contract with L Nardella Associates. (Provision of project management and delivery services.)
- An Engineering Services Agreement with Hatch Ltd. (Detailed Engineering agreement for the engineering for the Shawinigan processing plant facility.)
- An Engineering Services Agreement with DRA Americas Ltd. (Detailed Engineering agreement for the engineering for the Whabouchi mine site.)
- An Engineering and supply of electrical/Control equipment contract with ABB. (Agreement for the supply and delivery of engineering and equipment for all electrical and control aspects for both the Whabouchi mine site and the Shawinigan processing plant facility.)
Addressed the risk of going over budget and/or potential cash flow problem during the completion of the project with…
- A contingency budget plus working capital covered by the financial plan (403M);
- Whabouchi Mine capex contingency (30M)
- Shawinigan Electrochemical Plant capex contingency (70M)
- Cost Overrun Account (40M)
- First 30 months of Bond interest payments (128M)
- Transaction costs (48M)
- Working capital (87M)
- A supply agreement of spodumene concentrate with Hanwa Co.
Have entered into agreements with great clients & partners such as…
- FMC : Multi-year supply agreement (8,000t per year of lithium carbonate).
- Johnson Matthey Battery Materials Ltd : Long-term supply agreement of lithium hydroxide.
- Softbank : right of first offer to purchase up to 20% of the lithium hydroxide and lithium carbonate.
- Northvolt : 5-year supply agreement (3,500t to 5,000t per year of lithium hydroxide).
The future looks bright!
GLTA!