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LLL - Leo Lithium
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I was going to sell yesterday. So I'm guessing it's going to drop now.
Forget to post this yesterday.
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Have looked at the chart again just now, and it looks like the volume has balanced out and it's going to continue it's march up trend.
Just an opinion, have got no skin in it ATM.
(a target might be $1.24 ?)
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My last trade exited last September at around 0.77.
Any holders before this runup are going to be fairly sticky ones.
Any holders before this runup are going to be fairly sticky ones.
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Not recommendations, but bag potential in my opinion only.
AXE. Depends on your time horizon though.
1MC. If you want to ride the ragged speckled edge of disaster.
I sold out of these yesterday, put 1/2 the proceeds into DLI holdings and 1/2 to cash.
Country risk got me out.
The Wagner turmoil along with the distance to port and associated risk are the concerns.
After a decent run up in price lately the fulcrum has moved for me.
I have another African lithium developer, A11, through myPLL holding and feel that is enough country/continent risk atm.
Otherwise I think it’s a great project.
Interesting times.
Country risk got me out.
The Wagner turmoil along with the distance to port and associated risk are the concerns.
After a decent run up in price lately the fulcrum has moved for me.
I have another African lithium developer, A11, through myPLL holding and feel that is enough country/continent risk atm.
Otherwise I think it’s a great project.
Interesting times.
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Share is now suspended, as of the 20th July. Pending decision from Mali government about whether or not exports are allowed....
Africa seems to be where miners go to be nationalised/die...
Africa seems to be where miners go to be nationalised/die...
Dona Ferentes
A little bit OC⚡DC
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spot the odd one OUT.
Wagner, jihadists, Guofeng, Leo Lithium.
emerging from the trading halt, and .... Leo Lithium crashed 50 per cent on Monday as Mali’s military regime halted the miner’s plans to ship its first ore amid escalating problems engulfing its African lithium dream in the war-torn country.
The military-backed government of Mali asked United Nations peacekeepers to leave the country last month, amid a broader conflict involving jihadist insurgents.
.
Wagner, jihadists, Guofeng, Leo Lithium.
emerging from the trading halt, and .... Leo Lithium crashed 50 per cent on Monday as Mali’s military regime halted the miner’s plans to ship its first ore amid escalating problems engulfing its African lithium dream in the war-torn country.
The military-backed government of Mali asked United Nations peacekeepers to leave the country last month, amid a broader conflict involving jihadist insurgents.
.
Dona Ferentes
A little bit OC⚡DC
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this is all going swimmingly.
.
Leo asserted that any suspension would not delay the project and emphasized that mining activities were ongoing according to the pre-existing plan. Despite these assurances, shares hit a low of 51 cents when trading recommenced.
Leo Lithium had been under trading suspension since 18 July, following correspondence from the Malian Ministry of Mines. The government formed a commission to examine matters related to the Goulamina Lithium Project, including the status of the government's stake and progress, along with issues concerning the Morila Gold Mine.
Leo Lithium and its joint venture partner, Ganfeng Lithium Group, presented information to the commission to establish their disconnection from Firefinch Limited and the Morila Gold Mine. However, the Ministry of Mines directed Lithium du Mali SA to suspend the direct shipping ore component of the project while discussions were ongoing.
Furthermore, Leo Lithium faced challenges related to the Malian government's demand for a 10% project free carry interest in the Goulamina Project. Although Leo Lithium has progressed in fulfilling this requirement, the government has the option to acquire up to a 20% interest in the project-holding company.
Additionally, the government did not exempt the company from certain taxes, resulting in unexpected expenses for import duties and taxes. Leo Lithium anticipates potential further payments of up to $US16.1 million in the current quarter, with a total potential exposure of $US45 million to $US50 million.
Despite the setbacks, Leo Lithium's CEO, Simon Hay, expressed the company's commitment to advancing the spodumene project and engaging with the Ministry of Mines. The company looks forward to an updated Ore Reserve estimate later in the month.
.
Leo asserted that any suspension would not delay the project and emphasized that mining activities were ongoing according to the pre-existing plan. Despite these assurances, shares hit a low of 51 cents when trading recommenced.
Leo Lithium had been under trading suspension since 18 July, following correspondence from the Malian Ministry of Mines. The government formed a commission to examine matters related to the Goulamina Lithium Project, including the status of the government's stake and progress, along with issues concerning the Morila Gold Mine.
Leo Lithium and its joint venture partner, Ganfeng Lithium Group, presented information to the commission to establish their disconnection from Firefinch Limited and the Morila Gold Mine. However, the Ministry of Mines directed Lithium du Mali SA to suspend the direct shipping ore component of the project while discussions were ongoing.
Furthermore, Leo Lithium faced challenges related to the Malian government's demand for a 10% project free carry interest in the Goulamina Project. Although Leo Lithium has progressed in fulfilling this requirement, the government has the option to acquire up to a 20% interest in the project-holding company.
Additionally, the government did not exempt the company from certain taxes, resulting in unexpected expenses for import duties and taxes. Leo Lithium anticipates potential further payments of up to $US16.1 million in the current quarter, with a total potential exposure of $US45 million to $US50 million.
Despite the setbacks, Leo Lithium's CEO, Simon Hay, expressed the company's commitment to advancing the spodumene project and engaging with the Ministry of Mines. The company looks forward to an updated Ore Reserve estimate later in the month.
Dona Ferentes
A little bit OC⚡DC
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3 October 2023
3 October 2023 Market Announcement
Leo Lithium Limited (ASX: LLL) – Suspension from Quotation
The securities of Leo Lithium Limited will be suspended from quotation immediately under Listing Rule 17.3, following a failure to respond to ASX queries adequately. The securities will remain suspended until the Company has responded to ASX’s queries adequately.
..
.
.... still suspended
country risk !
Salafi-Jihadi Movement Weekly Update, December 15, 2023
Dec 15, 2023 - ISW PressAl Qaeda–linked militants are increasing their rate of attack in central Mali, likely to coerce civilians into submission to strengthen support zones and gain more resources to help the group isolate Malian forces in the area. Malian security forces and their Kremlin-funded Wagner Group auxiliaries will likely fail to protect civilians from the attacks because Malian forces cannot effectively contest insurgents in central Mali as they continue to give priority to fighting Tuareg rebels in northern Mali. UN forces that helped secure roads in the region are also no longer around to mitigate security gaps after withdrawing in early December. The insurgents will likely use strengthened support zones in central Mali to besiege major population centers and attack isolated security forces in Mali and Burkina Faso to delegitimize both countries’ governments.
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They might finally be out of this mess... But serves as a reminder of what happens when you invest in sh*thole African countries and have Chinese as your business partners.
Actually, I think the mess is just starting. LLL is still apparently building the mine as the contractor? Which I suspect means that LLL will incur costs, and the Chinese won't pay the bills over some kind of future 'dispute' and there will be zero recourse for LLL because Africans and Chinese don't care about western laws.
LLL looks like it will stay suspended for a while I'm guessing they won't be allowed to trade until they pick up some new leases elsewhere or at minimum have voted on the deal and seen some money transferred. Might be some interesting movements if this does start trading again, presumably will see an opening smash and a nice deadcat bounce. If this was Australia and these were Australian parties involved, I would probably invest, but I'm definitely not touching this one given how dodgy everything looks.
Actually, I think the mess is just starting. LLL is still apparently building the mine as the contractor? Which I suspect means that LLL will incur costs, and the Chinese won't pay the bills over some kind of future 'dispute' and there will be zero recourse for LLL because Africans and Chinese don't care about western laws.
LLL looks like it will stay suspended for a while I'm guessing they won't be allowed to trade until they pick up some new leases elsewhere or at minimum have voted on the deal and seen some money transferred. Might be some interesting movements if this does start trading again, presumably will see an opening smash and a nice deadcat bounce. If this was Australia and these were Australian parties involved, I would probably invest, but I'm definitely not touching this one given how dodgy everything looks.
