PEA released.....1.299b NPV @9500/ton
31% IRR
CAPX 528$m payback 3.23 years
OPEX 3355 B/E 4016$/ton
40 yrs @17000 tpd mine life....190 years using total resource
90% recovery
anyone correct me where i am wrong but these numbers look generally equal to cypress... i am making some general assumptions about cyp vs nrm but i am in no way attempting to suggest that nrm is a better company nor am i attemtpting to take anything away from what cypress has accomplished
norams chart looks fantastic recently with a nice stair step pattern and the shares have closed at daily highs 20 times since aug 27th and the shares have been trading very well recently compared to other clayton juniors, altho they did underperform peers at times over last year
they do only have 2.8m cash vs 2.1m for cypress who also has the pilot plant and the water rights and a completed PFS
67m mkt cap for noram vs 225m for cypress
while i dont expect the two companies to trade at par with each other, certainly noram looks cheap compared to cypress
assuming lithium prices stay elevated, and i cant think of any reason why not, noram has to be good for a 50-100% return
to me the big questions are 1-where is lithium going to be mined in usa 2-does usa need any lithium mining at all in the next few years given other sources (australia, south america, mexico) 3-what are alberlarle intentions in usa with silver peak mine, are they going to expand it significantly?
to me, the issues that piedmont are having with their mine on east coast highlight the advantages of usa mining lithium in nevada in an area already accustomed to and favorable to mining and to lithium... the market cap of pll is massive as a result of the off take agreement with tesla, which is indefinitely on hold due to environmental issues at the mine
today will be a good day for noram but what will be the way forward for them? attempt to raise money and complete pilot plants and PFS or look for a merger/buy out or major partner?
alot seems to be made of cypress' water rights and i admit they are certainly valuable but how valuable? if they were that valuable why didnt albermarle (a multi billion dollar company) buy them themselves and why did they cost only 3$m? certaibnly if this was a major impediment to ever mining in this area the rights would have cost more?
anyway i am done rambling, good luck today