Der Geist
Regular
They should reverse the last lot. I recall Elphamale made a comparison to what AKE (producer) directors
gave themselves. AVZ PRs was fatter.
This is definitely a talking point for the AGM
AVZ Discussion 2022
- Thread starter GazDix
- Start date
gave themselves. AVZ PRs was fatter.
This is definitely a talking point for the AGM
History shows that’s normally a bullish signal!!Does it seem to anyone else that all the blowins have started to blow in again?
Giddy up!!!
Let’s Goooooooooooo
Frank
Top 20
*Meanwhile, I see where, "Desperate Times require Desperate Measures", as
Vice president of Posco’s lithium business strategy, Park Kwang-Seok, who said the company was looking extensively for lithium reserves in US, “even the low-grade ones we didn’t glance at previously.”
It’s almost two years since South Korea’s Posco Group began expanding in earnest into the battery raw materials business as part of a plan to play a greater role in the supply chain for cleaner cars.
By 2030, the Seoul-based steel giant forecasts it will have production capacity of around 605,000 tons for cathode-active materials, 322,000 tons for anode materials, 300,000 tons for lithium and 220,000 tons for nickel.
To that end, it’s made some bold investments, including building a nickel refinery at home, buying mining rights to a salt lake with lithium deposits in Argentina, constructing a battery recycling plant in Poland and snapping up a stake in a graphite mine in Tanzania.
Bloomberg sat down with the vice president of Posco’s lithium business strategy, Park Kwang-Seok, who said the company was looking extensively for lithium reserves in US, “even the low-grade ones we didn’t glance at previously.”
President Joe Biden’s Inflation Reduction Act, which requires EV makers secure battery minerals from countries with free trade agreements with the US in order to be eligible for a $7,500-a-car subsidy, is also high on Park’s mind. Here’s an edited transcript of the interview.
What is Posco’s overriding strategy when it comes to battery materials?
We have a goal to build a full value chain in mining and upstream for EV battery minerals, from securing the rocks to manufacturing cathode-active and anode materials and then onto battery recycling.
We believe we’re the only company in the world to have such an ecosystem.
What’s your technology around lithium refining?
We focus on extracting lithium from rocks or lakes at higher yields than rivals can.
In terms of ESG, we use less water when extracting lithium from lakes.
Using less water is important because many of these lithium lakes are located in high mountainous areas where local residents need that water.
Posco bought a lithium lake in Argentina but the country doesn’t have a free trade agreement with the US. Is this a concern for you?
We don’t think the IRA is fixed yet. We expect more details to come in November or December and we might need to revise our strategy after that.
One thing we’re considering to meet the current requirements would be bringing lithium from Argentina to Korea, producing lithium hydroxide there and then exporting it to the US, because Korea has a free trade agreement with the US.
One thing we are worried about the IRA is that most of the countries that have natural resources don’t have FTAs with the US.
It’s only Australia, Chile and Canada. Chile imposes an up to 20% royalty on mining, compared to about 3% in Argentina.
However companies are making a lot of suggestions and I think the US will listen to them and make a wise decision. Depending on the details, the IRA can be an opportunity for us.
Do you think the IRA will have an impact on your joint ventures with Chinese companies, like Huayou Cobalt?
(Posco last year outlined plans to set up a recycling business for lithium-ion batteries with Huayou Cobalt.
The pair already have a 65:35 JV called Posco Hy Clean Metal.)
Huayou is a private company in China, not a state-run firm, and I’m not sure the IRA will affect private firms.
What’s the most difficult thing about being in the battery minerals business?
Securing minerals.
It’s not something you can do with only money, or technology.
You need support from your government and industry players that are reliable. We have Zoom meetings with mining companies every day, day and night.
As a steelmaker, Posco has a pretty good reputation, everyone knows we don’t suddenly delay or scrap deals. But the competition is pretty tough and mining companies want deals on better terms for them.
We’re also hoping South Korea signs an FTA with [South American trade bloc] Mercosur, which would be a great opportunity for Posco.
What’s your forecast for lithium prices?
Prices can climb further to around $80,000 per ton, but they won’t go higher as more supply will come online.
Posco is looking at low-grade lithium sources, which we haven’t before.
mining.com
Food for thought on the long and winding Road to Mining Manono
Cheers
Frank
Vice president of Posco’s lithium business strategy, Park Kwang-Seok, who said the company was looking extensively for lithium reserves in US, “even the low-grade ones we didn’t glance at previously.”
It’s almost two years since South Korea’s Posco Group began expanding in earnest into the battery raw materials business as part of a plan to play a greater role in the supply chain for cleaner cars.
By 2030, the Seoul-based steel giant forecasts it will have production capacity of around 605,000 tons for cathode-active materials, 322,000 tons for anode materials, 300,000 tons for lithium and 220,000 tons for nickel.
To that end, it’s made some bold investments, including building a nickel refinery at home, buying mining rights to a salt lake with lithium deposits in Argentina, constructing a battery recycling plant in Poland and snapping up a stake in a graphite mine in Tanzania.
Bloomberg sat down with the vice president of Posco’s lithium business strategy, Park Kwang-Seok, who said the company was looking extensively for lithium reserves in US, “even the low-grade ones we didn’t glance at previously.”
President Joe Biden’s Inflation Reduction Act, which requires EV makers secure battery minerals from countries with free trade agreements with the US in order to be eligible for a $7,500-a-car subsidy, is also high on Park’s mind. Here’s an edited transcript of the interview.
What is Posco’s overriding strategy when it comes to battery materials?
We have a goal to build a full value chain in mining and upstream for EV battery minerals, from securing the rocks to manufacturing cathode-active and anode materials and then onto battery recycling.
We believe we’re the only company in the world to have such an ecosystem.
What’s your technology around lithium refining?
We focus on extracting lithium from rocks or lakes at higher yields than rivals can.
In terms of ESG, we use less water when extracting lithium from lakes.
Using less water is important because many of these lithium lakes are located in high mountainous areas where local residents need that water.
Posco bought a lithium lake in Argentina but the country doesn’t have a free trade agreement with the US. Is this a concern for you?
We don’t think the IRA is fixed yet. We expect more details to come in November or December and we might need to revise our strategy after that.
One thing we’re considering to meet the current requirements would be bringing lithium from Argentina to Korea, producing lithium hydroxide there and then exporting it to the US, because Korea has a free trade agreement with the US.
One thing we are worried about the IRA is that most of the countries that have natural resources don’t have FTAs with the US.
It’s only Australia, Chile and Canada. Chile imposes an up to 20% royalty on mining, compared to about 3% in Argentina.
However companies are making a lot of suggestions and I think the US will listen to them and make a wise decision. Depending on the details, the IRA can be an opportunity for us.
Do you think the IRA will have an impact on your joint ventures with Chinese companies, like Huayou Cobalt?
(Posco last year outlined plans to set up a recycling business for lithium-ion batteries with Huayou Cobalt.
The pair already have a 65:35 JV called Posco Hy Clean Metal.)
Huayou is a private company in China, not a state-run firm, and I’m not sure the IRA will affect private firms.
What’s the most difficult thing about being in the battery minerals business?
Securing minerals.
It’s not something you can do with only money, or technology.
You need support from your government and industry players that are reliable. We have Zoom meetings with mining companies every day, day and night.
As a steelmaker, Posco has a pretty good reputation, everyone knows we don’t suddenly delay or scrap deals. But the competition is pretty tough and mining companies want deals on better terms for them.
We’re also hoping South Korea signs an FTA with [South American trade bloc] Mercosur, which would be a great opportunity for Posco.
What’s your forecast for lithium prices?
Prices can climb further to around $80,000 per ton, but they won’t go higher as more supply will come online.
Posco is looking at low-grade lithium sources, which we haven’t before.
mining.com
Food for thought on the long and winding Road to Mining Manono
Cheers
Frank
DiscoDanNZ
Regular
I didn't get an invite to the roadshow I knew I should have bought more at 6c
I knew I should have bought more at 6c
Winenut
GO AVZ!!!!
Funny thing is I didn't whack stupid old Modo
Someone got in before me
I was just thinking about it because his/her comments were clearly just shitful.......and then all of a sudden it had happened!!
I do love it though when the group moderating process on TSE works just like it should
Makes for a great meme or gif opportunity too!
Winenut
GO AVZ!!!!
Anyone care to speculate on when we might get the pre-roadshow/pre AGM announcement(s) and what some of the items are that might be addressed??
Or does everyone have speculation paralysis due to extreme fear of pineappling?
I'll throw it out there...
I think there will be an announcement released over this weekend or some time on Monday although I don't expect trading to resume until some time later
Main item(s) covered will be clarity around Dathcom ownership percentages and the size/shape and status of tenements 4029, 4030 and 13359 in preparation for the issue of the ML
There
I've said it
Reliable sources..... nil
Any sources at all..... nil
Complete conjecture..... yep
Personal pineapple protection..... 100% deployed
Or does everyone have speculation paralysis due to extreme fear of pineappling?
I'll throw it out there...
I think there will be an announcement released over this weekend or some time on Monday although I don't expect trading to resume until some time later
Main item(s) covered will be clarity around Dathcom ownership percentages and the size/shape and status of tenements 4029, 4030 and 13359 in preparation for the issue of the ML
There
I've said it
Reliable sources..... nil
Any sources at all..... nil
Complete conjecture..... yep
Personal pineapple protection..... 100% deployed
DiscoDanNZ
Regular
I think you've hit the nail on the head, they can't show up to the roadshow with nothing better than the old throwaway "discussions are moving in a positive direction/spurious claims" etc. They aren't stupid enough and would get lynched for it.
Remark
Top 20
John25
Regular
So the HIT orders came from higher up Nut ... have WE a “Godfather “ this may be a clueFunny thing is I didn't whack stupid old Modo
Someone got in before me
I was just thinking about it because his/her comments were clearly just shitful.......and then all of a sudden it had happened!!
I do love it though when the group moderating process on TSE works just like it should
Makes for a great meme or gif opportunity too!
Carlos Danger
Top 20
We are long overdue an update on the Zijin arbitration and the Dathomir case. Not to mention the mining licence which should be top priority for management instead of roadshows if it is not secured before the AGM.
I think we will get an announcement after market on October 31st. The timing of the first roadshow the night before the next suspension deadline is most likely by design. But after this many extensions and missed deadlines I will take anything that management says other than an official reinstatement of trade with a boulder of salt.
@MoneyBags1348
Mate, I do consider myself highly sophisticated but not in a s708 sense
I can’t even profess to be entitled to an invite to any of the shitshows, and will not be attending the AGM as I live in the backwaters of rural NZ, and it’s 3 bloody plane rides to Perth
I have not participated in formulating questions as I am waiting to read the update which will come before 31st. I fully expect to see a lot of detail and solid progress, but if not, well, fuck me dead, you’ll get some suggestions
Hi Xerof,
They are adding a NZ roadshow in Auckland on the 4th of November (that explains the gap between Perth show and rest of AU)
They are looking at firming up the numbers now. Maybe ask them for an invite if you can make that date? I'll be there so happy to ask questions on your behalf.
Cheers
MoneyBags1348
Top 20
Just going through the 2022 Annual Report and this is the kind of thing I was referring to before…. In my opinion, the arrogance in the face of John Clarke and the complete lack of any acknowledgment of shareholders frustration is what you can expect at the AGM. I’ll put money on him not having the interest to show up at any of the Roadshows.
Time and again shareholder’s have acknowledged the the frustration and issues Nigel has had to face including corruption within the DRC Government, corruption from Cominiere (which is 90% owned by the DRC Govt.), corruption from Zigin, corruption from Simon Cong (Dathomir) and most of all corruption from Jean Felix Mupande (CAMI)…. But with no acknowledgement to us in return.
It doesn’t take much to say “We feel (and share) shareholder’s frustrations and although we remain confident around all aspects of our ownership and rights, we are unable to elaborate more at this time due to….”
I know they have put out announcements and I believe and acknowledge them, as I’ve said it’s the AGM and the arrogance of the BOD and executives that I don’t like…. I don’t expect a fucken announcement every two weeks by the way.
Final comment is regarding Nigel’s “AVZ is positive the suspension will be lifted soon”
Time and again shareholder’s have acknowledged the the frustration and issues Nigel has had to face including corruption within the DRC Government, corruption from Cominiere (which is 90% owned by the DRC Govt.), corruption from Zigin, corruption from Simon Cong (Dathomir) and most of all corruption from Jean Felix Mupande (CAMI)…. But with no acknowledgement to us in return.
It doesn’t take much to say “We feel (and share) shareholder’s frustrations and although we remain confident around all aspects of our ownership and rights, we are unable to elaborate more at this time due to….”
I know they have put out announcements and I believe and acknowledge them, as I’ve said it’s the AGM and the arrogance of the BOD and executives that I don’t like…. I don’t expect a fucken announcement every two weeks by the way.
Final comment is regarding Nigel’s “AVZ is positive the suspension will be lifted soon”
Last edited:
Announcements I want before the AGM / Roadshow.
- confirmation of tenements that we have
- confirmation of the fees that have been paid or are payable for the issuance of the ML
- pending the above, the mining licence
- confirmation of the SEZ
- status of the works and update of the timeline to market if it has been changed
- update on the arbitration
- updated DFS, with current resources pricing
- confirmation of tenements that we have
- confirmation of the fees that have been paid or are payable for the issuance of the ML
- pending the above, the mining licence
- confirmation of the SEZ
- status of the works and update of the timeline to market if it has been changed
- update on the arbitration
- updated DFS, with current resources pricing
Mouthpiecenomnom
Regular
Im not so sure....
All they need to tell us is we have ML or that they are 100% confident of getting it . Otherwise stay in the DRC . The rest is meaningless Fluff . And don't come out of suspension until you know for certain or the SP will be f--ked over. I can't imagine a RoadShow/ AGM where the SP has just been cut in half (or more) and we are still uncertain of our future .Also the negative press and social media that will follow will be ruthless . Makes no sense and would be absolute stupidity .The AVZ team are not stupid imo. GLTAH
Last edited:
Xerof
Flaming 1967
Thanks for the info @muks
Shit, I thought I was the only one in NZ who owned AVZ, lol
Unfortunately can't get to Auckland that evening, I have my daughter, SIL, and grandie arriving here that very day.
I would speculate they will call in to Melbourne for the Cup on the way over too, cunning devils
As far as questions go, lets see what gets put up AND ANSWERED at the first
My greatest concern is will they understand our accent?
I used to hold 1,100,000 shares, so would have been invited by default, but now only have 600,000 so would just miss the cut
Xerof
Flaming 1967
Wino,
there is clarity around the 100% owned tenements - we still own them 100%, but due to the renewal rules of the Mining Code, we relinquish 50% as a matter of course, as we only sought renewal of exploration licence. Done, and the Cadastre map shows it correctly (fucking amazing I know)
Here's the note in the accounts about it
LimitedEdition63
Regular
No Im in Te Awamutu, so youre not alone XThanks for the info @muks
Shit, I thought I was the only one in NZ who owned AVZ, lol
Unfortunately can't get to Auckland that evening, I have my daughter, SIL, and grandie arriving here that very day.
I would speculate they will call in to Melbourne for the Cup on the way over too, cunning devils
As far as questions go, lets see what gets put up AND ANSWERED at the firstshitshowroadshow, and we can persist with any that don't make the cut, and add more.
My greatest concern is will they understand our accent?
I used to hold 1,100,000 shares, so would have been invited by default, but now only have 600,000 so would just miss the cut
Xerof
Flaming 1967
Alright, we need an out of the NZ closet moment here
I also forgot Steve from Auckland, but not sure he's seen the light yet
Similar threads
