SALTA (Drafting). In June, the Government of the Province advanced in a new and ambitious project for the production of Lithium in the Salar del Hombre Muerto. For this project, the company Posco , one of the leaders in terms of lithium production worldwide, will invest 450 million dollars in Salta and Catamarca. This afternoon, the governor, Juan Manuel Urtubey and authorities of the company, analyzed the progress of the project.
Executives of the company Posco Argentina, which will make a large investment in Salta and Catamarca for the production of Lithium, met with the governor, Juan Manuel Urtubey, to analyze the progress of the project that will land in the province in the coming days. The ambitious undertaking, plans to produce about 25,000 tons per year between hydroxide, as well as lithium carbonate.
***** 15.05.18 - Sal de Vida - Updated Feasibility Study - JORC-compliant reserve estimate of 1.1 million tonnes of recoverable lithium carbonate equivalent (“LCE”), supports a long initial project life with 25ktpa of lithium carbonate
In June, the first meeting was held at Government House, where Governor Juan Manuel Urtubey and executives of the firm, made a thorough evaluation of the investment plan for the production of lithium in the province. The company, as indicated at that time, advanced in the acquisition of mining properties in the Salar del Hombre Muerto. As a result of the project, Posco Argentina will make an investment of 450 million dollars.
*****15.05.18 - Sal de Vida - Updated Feasibility Study “Capital cost estimate of US$474 million”
*****31.12.18 - Sal de Vida Update-“FEED will be primarily focused on completing outstanding value engineering studies to identify key areas of potential capital savings and optimization, as well as advancing Project engineering to the detail required to prepare and commission bid packages for detailed
engineering"
One of the highlights is that Posco developed in 2010 its own lithium production technology, which is proven and operational. The forecasts are that the total produced will be exported, generating a new annual income of foreign currency for Argentina for approximately USD 360 Million and 200 new direct jobs in the production stage.
***** 31.12.18 - Sal de Vida Update - “Concurrently, Galaxy is also undertaking a second test work program to act as a platform for piloting various alternative, non-conventional processing technologies to assess their viability for implementation for the Project.”
**** 15.05.18 - Sal de Vida - Updated Feasibility Study “Average annual revenues of US$360 million” hmmmmmm big coincidence??
During the meeting, the governor, Juan Manuel Urtubey, reiterated the support and accompaniment of the Government of Salta to the mining project, which among other benefits, will generate a large number of jobs. According to what Posco foresees, in 2019 the construction of plants will start and in 2021, the production will begin. The two plants will be built in the Salar del Hombre dead the first, while the second will be installed in the Industrial Park of General Güemes.
10.04.17 - Sal De Vida Update
An intensive topographic survey campaign was conducted over recent months and has now been completed successfully. These studies covered 3000 hectares of Galaxy’s SDV tenements, planned to facilitate the construction of a 45 Ha initial evaporation pond as well as future full scale commercial ponds. The desired perimeter was selected based on identifiable, superior geological and geo-mechanical conditions, paired with better accessibility all year round predominantly as a result of a slightly increased elevation than the salar level.
***** 28.02.19 Financial Year 2018 Results Presentation - “Earthworks related to construction of 15Ha pilot evaporation pond > 65% complete”
SOOOO why reduce pond size from 45 Ha to 15 Ha?? New tech require smaller pond for same quantity extraction?
http://koreatimes.co.kr/www/news/biz/2016/02/602_198006.html
"Since 2010, we have been developing a "High-Efficiency Lithium Extract Technology in cooperation with the Ministry of Trade, Industry and Energy," a POSCO spokesman said. "The technique requires less salt water and smaller fields to extract lithium. Six years ago, Chairman Kwon headed the development team.”
And as for Down stream well its happening. Dont stress about 15kt from MC this quarter. “We are also starting to evaluate an opportunity of forming a view of establishing our own downstream strategy off the back of our Mount Cattlin producing mine, in Australia,” Tse said." https://investingnews.com/daily/resource-investing/battery-metals-investing/lithium-investing/lithium-forecast/
You can keep shorting and trying to convince the general public that this is a dog of a stock, but rest assured when the above become common/market knowledge the big end of town are going to want in on this under valued investment. Anthony/galaxy management, please, if you’re reading this, take as long as you need to get the right deal for all galaxy share holders. I will simply be accumulating and enjoying the opportunity.
POSCO to begin construction in 1 week. No wonder the shorts are up and about today. Gonna go bang.
Not advice and DYOR.
POSCO Joint Venture, page-42
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