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Critical Elements Lithium Corporation (CRE.V)

TSXV - TSXV Real Time Price. Currency in CAD
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1.5600-0.0200 (-1.27%)
At close: 03:59PM EDT

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  • C
    Christopher2010
    Thinking aloud, if June 14 COMEX meeting was "discussion" about the "draft review report" for Rose Lithium Tantalum, then I think it unlikely the July 26 meeting was to *finalize* the review. No meeting in Aug so that means Sept 20 is the earliest finalization, with 1 month standard wait between decision and announcement. That gives us until late October to buy stocks.
  • C
    Christopher2010
    Beacon Securities was asked which interesting Canadian projects coming up have the most potential. His answer included Critical Elements:
    https://www.theassay.com/articles/in-discussion/canada-truly-a-land-of-opportunity/
  • C
    Christopher2010
    Making partnerships for the possible Phase 2 (Li Hydroxide plant) while we wait for the mine: "...discussions with several automobile manufacturers, cathode manufacturers, trading houses and cell manufacturers. A substantial number of non-disclosure agreements with potential strategic partners are now in place..." I'm glad they want to see investment before they commit. The constant message from analysts at Benchmark, Fastmarkets, Battery Materials Review, etc is that the big companies need to invest upstream.
  • R
    Roy
    Unbelievable. There were no decisions made at the 26 July COMEX meeting regarding the two CRE-related issues before it. Next meeting isn't until 20 September. So much for Quebec being a friendly EV materials mining jurisdiction.
  • R
    Roy
    Up 12% at this point in the trading day. I would expect that the action today is related to the COMEX meeting and the potential for mine approval, but is it speculation or does someone know something? The next couple of days should give us the answer.
  • C
    Christopher2010
    Revenues continue to flow upstream to the raw material producers. Pilbara's latest auction Aug 2 was $6350/t for 5.5% Spodumene (7000 equivalent for 6%).
  • R
    Roy
    @Christopher2010, I see that COMEX has updated their home page after the meeting on the 26th. Do you have an idea when they will come out with their decision register for this meeting? I see they have all of the decision documents on their website up to the 30 June 2022 meeting (at which no decisions were made).
  • C
    Christopher2010
    Today was of course the Comex meeting, and SEDI reports lots of insider buying leading up to it. Don't want to read too much into it as a lot of the buying is simply the new Exec hires. However, thought I should mention it while we wait for the Quebec permits.
  • C
    Christopher2010
    Min of Economy and Innovation has EV battery industry in focus at least. https://www.innovationnewsnetwork.com/quebecs-role-in-the-battery-metals-supply-chain/22581/
  • C
    Christopher2010
    Interim Financials published to Sedar. Cash up from $6 Mil last year to $31 Mil.
  • C
    Christopher2010
    Glad they reduced the Spodumene price assumption to $4000/t from $5000/t. Feasibility still looks good.

    July 27, 2022 - MONTRÉAL, QUÉBEC – Critical Elements Lithium Corporation (TSX-V: CRE) (US OTCQX:
    CRECF) (FSE: F12) ("Critical Elements" or the "Corporation") is pleased to announce the filing on
    SEDAR of a National Instrument 43-101 - Standards of Disclosure for Mineral Projects (“NI 43-101”)
    compliant technical report representing the qualifying report for the recently-announced Feasibility Study
    at the Rose Lithium-Tantalum Project located in James Bay, Québec. For more information, please refer
    to Critical Elements’ press release dated June 13, 2022. Highlights of the Feasibility Study are as follows:

    Highlights

    sAverage production, Year 2 to Year 16 of 173,317 tonnes of chemical grade 5.5% spodumene
    concentrate;
    Average production, Year 2 to Year 16 of 51,369 tonnes of technical grade 6.0% spodumene
    concentrate;
    Average production, Year 2 to Year 16 of 441 tonnes of tantalum concentrate
    Expected life of mine of 17 years;
    Average operating costs of US$74.48 per tonne milled, US$540 per tonne of concentrate (all
    concentrate production combined);
    Estimated initial capital cost US$357 million before working capital;
    100% equity basis for project;
    Average gross margin of 68.3%;
    After-tax NPV of US$1,915 million (at 8% discount rate), after-tax IRR of 82.4% and average
    price assumptions of US$4,039 per tonne technical grade lithium concentrate, US$1,852 per
    tonne chemical grade lithium concentrate, US$130 per kg tantalum pentoxide (Ta2O5); and
    Anticipated construction time to start of production of 21 months.
  • R
    Roy
    Thanks @Christopher2010 for the heads up on COMEX's 26 July meeting. It seems they're considering two aspects of CRE's project, the mine/concentrator and HQ's power hookup for the mine. Presumably both would need to be approved before anything could happen.

    The last document on file for HQ's project was their answers to questions, filed on 16 May 2019. The last document on file for CRE's mine is 20 Dec 2021, and again this is their answers to questions. Hopefully like you say we'll have positive decisions flow out of the July meeting.
  • C
    Christopher2010
    Not to get hopes up but next Comex meeting July 26. I'm starting to think Quebec politics is causing the delay but they can't delay forever. With an election coming they'll want announcements of new job creating, future oriented projects. Campaigning begins Sept. So that's my prediction/guess for a permit announcement date.
    https://comexqc.ca/en/
  • C
    Christopher2010
    Annual General and Special Meeting on Aug 6. Wonder what the "special" part is .
  • C
    Christopher2010
    Umicore plans C$1.5 Billion battery materials plant in Ontario
    https://www.reuters.com/technology/belgiums-umicore-plans-c15-bln-battery-materials-plant-canadas-ontario-2022-07-13/
  • C
    Christopher2010
    RK Equity presentation at the well attended Fastmarkets conference on why to "Buy the dip". https://youtu.be/1sgKozDmi0o
  • C
    Christopher2010
    RK Equity asks is the Lithium gap here to stay? https://youtu.be/AAT1g488kbg
  • C
    Christopher2010
    A drop of 50% from current spot price levels would still be ABOVE current consensus for 2023 onwards. That means that lithium equities are currently still massively undervalued
    https://www.batterymaterialsreview.com/ourblogs/what-is-the-equity-market-getting-wrong-about-lithium/
  • P
    Permian
    Rose Lithium project looking good. I guess that was the news. Production in 21 months.
  • C
    Christopher2010
    When reading the FS summary keep in mind:
    -- valuations don't include further potential upside of Phase 2, conversion plant
    -- Unlike most companies, CRE reports "recovered grade", so as Rodney Hooper says "....92% LiO2 is comparable to 1.04% of head grade reported by peers."
    -- current stock (market cap of 305 Million) value is only 16% of the company's Net Present Value of $1.9 Billion