So I think we / they / our BOD all know what COULD have been with regards to the project obtaining the permits and for all intensive purposes the ' Green Light ' so to speak and what this would have meant to potential re-rate in the SP. However this is now not the case and so where to from here I would ask ?
For me there are a couple of issues and possible question's I would like to see answered and fairly quickly. So here's what we know in regards the so called ' staged acquisition of the Tansim lithium exploration project in Quebec '
As per announcements: The property is being acquired through an acquisition agreement with Matamec Explorations Inc (“Matamec”). The acquisition includes the staged payments of cash and exploration commitments, and net smelter royalty payable to Matamec should Sayona achieve 100% ownership.
We also know from announcements that : - Tansim demonstrates stand-alone potential but could be developed as a complimentary satellite operation to Authier, where the Company is currently completing a Definitive Feasibility Study”.
We also know from :- Quebec Precious Metals Corporation ( Formerly Canada Strategic Metals ) who merged with Matamec and from their Managements Discussion & Analysis Report for 6 months ended July 2018 that:-
Work done during the period
Sayona announced in August 2018, that current exploration program at Tansim is aimed at defining drilling targets at the Viau-Dallaire and Viau prospects. Viau-Dallaire is a pegmatite dyke measuring 300 m long and between 12 and 20 m thick. At the second prospect, Viau, pegmatites have been mapped over an area up to 200 m long and 30 m wide. A recent airborne geophysics survey has confirmed a strong east-west magnetic anomaly that corresponds with historical surface mapping of pegmatites over an area
measuring 9 km long and up to 700 m wide. In addition, the host
intermediate/mafic magnetic rocks confirmed by the survey are intruded by sub-parallel lithium, beryllium and tantalum-bearing, granitic pegmatite dykes. On September 14, 2018, Sayona fulfilled his obligations and holds 50% in the property.
So folk's that's now been almost 6 months and following further announcements where they have mentioned Tansim numerous times with respect to drilling ' during the winter ' etc...etc. My question would be surely you have been pro-active and have something to say about the progress by now.
My Second major issues is with respect to our announcement of 9 NOVEMBER 2017 regarding our good friends Huan Changuan Lico Co Ltd, the subsidiary of Fortune 500 company, Minmetals Group
If you remember folks : the Strategic alliance was to explore marketing, technical, and financial development options for the Authier lithium project
Furthermore :- The MOU was to pave the way for advancing discussions to facilitate a development alliance exploring marketing, technical and financial opportunities for the Authier project, including:
> Funding and investment opportunities for Sayona and the Authier project.
So what then of all this. I can accept that the Minmetals Group have had some consolidation and amalgamations of their own to deal with throughout 2018 , and despite all this they still manage to progress themselves rather significantly as per this excerpt from what we know about their annual reporting requirements to their Government.:-
The new projects launched by China Minmetals in 2018 include the MCC Ramu NixCoyMnz precursor project, Changyuan Lithium Technology's lithium-ion battery materials project, the project of extracting lithium for Minmetals Salt Lake, Hunan Nonferrous Metals' Shuikoushan copper-lead-zinc industrial base project, and Minerals Development's Caofeidian International Ore Trading Center project. China Minmetals has become one of the few domestic producers of multiple precursor materials and multiple cathode materials for lithium batteries. It has established presence along the whole industrial chain from resources to technology in advance, with the annual investment of 10.6 billion yuan in new energy and materials.
and the company's ranking among the world's top 500 went up from the 198th to the 109th.
So given all this folk's and the fact they were willing to subscribed to 100% of Authiers production - wouldn't you think it an opportune time to perhaps ' renew ' your interest so to speak given the circumstances with perhaps a token placement to further advance the projects upside tonnage and perhaps recognize the further extensive potential that Tansim may offer as well. Make no mistake , the Authier project will eventually get up . Its just a matter of time and these Guy's ( Minsmetals ) seem to have a stack of that ....not to mention it would seem patience.
In either case , I would think it high time to update the market on where this MOU currently stands given the recent circumstances surrounding the project.
Common Alexis - tell us what's going on .....or are you still only just settling into your Job....
(20min delay)
