As stated previously, I was waiting for an reply or answer from...

As stated previously, I was waiting for an reply or answer from rdncoic.


It’s all in the quarterlies, nothing sinister, it just sort of sneaked in.

Shandong testing announced 14-07-2017

Quarterly dated 23-Oct-2017

“Offtake Negotiations On 14 August 2017, the Company announced that discussions with Shandong RuiFu Lithium Co., Ltd (Shandong) for the off-take of spodumene concentrates from the Company’s Wolfsberg Lithium Project were ongoing.
At the date of this announcement discussions with Shandong are ongoing and the Company is also exploring options with European based companies for the off-take.”


Quarterly dated 30-Jan-2018

“The Company has not closed the off-take agreement for supply of spodumene concentrate with Shandong Ruifu as it is engaged with a number of parties interested in the supply of battery grade materials into Europe. The global competition for lithium resources is clearly an issue for the nascent European battery plants, the motor manufacturers aiming to increase EV volumes and the European Commission. The Company’s Wolfsberg lithium project in Austria can be a key provider into an integrated lithium supply chain in Europe.”


Quarterly dated 30-Apr-2018

“The PFS clearly showed that the sale of spodumene concentrate to China was not economic at current terms that China is buying from Australia.

The marketing study undertaken by Benchmark Minerals Intelligence as part of the PFS projected that lithium hydroxide prices in Europe would continue to increase from the present level to a peak in 2022 and then decline to stabilise at a real terms price of US$15,000/tonne. The strategy for the Company is to supply lithium hydroxide to the nascent lithium battery plants of Europe. The Company is in discussion with a number of these regarding future off-take contracts.”


Quarterly dated 26-Jul-2018

“The PFS showed that current spodumene concentrate sales prices from Australia to China cannot be undercut by the Wolfsberg Lithium project, making the company hence focus on lithium hydroxide production.
The marketing study undertaken by Benchmark Minerals Intelligence as part of the PFS projected that lithium hydroxide prices in Europe would continue to increase from the present level to a peak in 2022 and then decline to stabilise at a real terms price of US$15,000/tonne. The strategy for the Company is to supply lithium hydroxide to the nascent lithium battery plants of Europe.
The Company is in discussion with a number of these regarding future off-take contracts.”


Quarterly 12-Oct-2018

“Product Marketing
The marketing study undertaken by Benchmark Minerals Intelligence as part of the PFS projected that lithium hydroxide prices in Europe would continue to increase from the present level to a peak in 2022 and then decline to stabilise. The strategy for the Company is to supply lithium hydroxide to the nascent lithium battery plants of Europe, and the Company is in good discussion with a number of these regarding future off-take contracts as well as potential off- take partners from the industry.”

[[Why did they omit the following from 12-Oct-2018 update…. “at a real terms price of US$15,000/tonne”??????]]



Summation – Going by the quarterly dated 30-Apr-2018 it is UNECONOMICAL just as it was all those years ago.

Selling spodumene concentrate to China is not economical. So rather than trying to sell spodumene concentrate to Europe, which seems to have fallen by the wayside, it would appear that EUR cannot produce spodumene concentrate for anyone economically. So they now change tactics and try to sell the more expensive lithium hydroxide to future battery plants in Europe.