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#1 Dusty Mountain

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Posted 14 May 2018 - 02:08 PM

Battery makers pushing for ten 10-year lithium contracts: Albemarle

 

A push to offer long warranties for batteries used in electric cars is one factor forcing lithium miners to change the way they sell their product, according to one of Australia's biggest producers.

US company Albemarle, which owns 49 per cent of the lithium-rich Greenbushes spodumene mine in Western Australia, said battery manufacturers are increasingly demanding 10-year contracts in a bid to secure supply. The comments came as the New York listed company indicated first production on its $400 million lithium hydroxide plant in WA may come a year later than previously expected.

Addressing investors, Albemarle's lithium president John Mitchell said a desire to offer 10-year warranties on lithium-ion batteries was driving some manufacturers to seek guaranteed sources of raw materials for similar periods.

"We had moved our customer base to three- to five-year agreements and now we see a strong pull from the leading providers of batteries and cathodes to go to as long as 10-year agreements and the rationale for that is really around security of supply," he said.

 

"Not just security of supply of that type of molecule but security of supply of an [electric vehicle] grade that meets those specification for our battery that they can make a 10-year warranty on."

 

The comments will be taken as positive news for the raft of Australian lithium producers, including Pilbara Minerals, Galaxy Resources, Altura Mining and Tawana Resources, who have come from obscurity three years ago to be market darlings in recent times.

Tawana recently exported its first cargo of lithium, while Pilbara and Altura are scheduled to begin exporting within months. Some analysts have expressed concerns the arrival of three new mines in 2018 will push the lithium market into oversupply for several years.

No concerns

Mr Mitchell said almost 100 per cent of Albemarle's lithium sales in 2018 were under long-term contracts, meaning the company was less exposed to the wild swings in spot market prices.

 

"The other benefit in terms of our approach is that we don't see risk in terms of pricing going down," he said.

"We feel the market remains in balance through 2021 and don't see any increase in supply that gives us any concerns in terms of oversupply."

Albemarle and its partner in the Greenbushes mine, Chinese company Tianqi, sought federal approval on Friday for a long-standing plan to double production at the mine.

The extra production from Greenbushes will go to the two beneficiation plants that Albemarle and Tianqi are separately building south of Perth.

 

The plants will upgrade spodumene concentrate from Greenbushes into battery-grade lithium hydroxide. Albemarle's plant will be built in the Kemerton Industrial zone near Bunbury.

Albemarle chief executive Luke Kissam indicated that first production at Kemerton could be later than previously expected.

"Engineering activities have commenced in Kemerton, Australia, for a new lithium hydroxide plant with expectations to commission the first 40,000 metric tonnes in 2021," Mr Kissam said.

That schedule appears to have pushed out since Albemarle sought federal approval for the Kemerton plant in November, when it told regulators that initial production would come in 2020.


Edited by Dusty Mountain, 14 May 2018 - 02:09 PM.

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#2 Dusty Mountain

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Posted 09 May 2018 - 03:31 PM

Courtesy of randosmit hotcopper.

 

Mercedes-Benz due to unwrap their electric vehicle (EQC) in September. I think they quoted 1 billion GBP to be spent on infrastructure (charging etc) and more on materials. Listen into the video below.

 

https://youtu.be/Y7ZjkoJgXWk


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#3 Dusty Mountain

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Posted 09 May 2018 - 03:26 PM

EV`s in china taking off

 

https://www.bloomberg.com/news/videos/2018-05-09/china-s-xpeng-motors-sees-market-for-evs-about-to-take-off-video


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#4 Dusty Mountain

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Posted 08 May 2018 - 02:26 PM

SA travel plugs into the future with electric cars The motoring industry is asking the trade & industry department to reduce the import tariffs imposed on electric vehicles
 BL PREMIUM
03 MAY 2018 - 06:41 NAFISA AKABOR
Jaguar Land Rover’s I-Pace

In 1900 almost all the vehicles on the roads of New York were horse-drawn. A few hundred may have been cars.

By 1905, the number had risen to 23,000, and by 1908 there were 100,000 in the city.

The 21st century shift from fuel-powered cars to electric vehicles will probably be a lot slower, however, and SA is bound to be a few years behind the rest of the world.

But the process could be accelerated by the arrival next year of Jaguar Land Rover’s I-Pace, the company’s first full electric vehicle. After a global introduction and much hype, Britain’s largest car manufacturer is preparing an SA launch in the first half of 2019.

The I-Pace brings together the driving dynamics of a Jaguar and the practicality of a 4x4. Global reviews say the I-Pace gives Tesla electric cars decent competition — and it is considerably cheaper.

The I-Pace’s planned arrival will help cement the future of electric vehicles in SA, and Jaguar Land Rover aims to offer some degree of electrification on every new Jaguar Land Rover model from 2020 onwards.

What kind of investment does it take to introduce these vehicles to a new market? And what are the constraints?

Cars in the late 1800s needed good roads, and the arrival of asphalt was celebrated for giving cities alternatives to cobblestones. People and horses had tripped over the river stones set in mortar. They were slippery when wet, and the sound of horses walking over them was an irritation to residents. The smooth asphalt was a welcome development for vehicles, horses and people.

Electric vehicles have a completely different set of constraints, primarily focused on the source of their power. Jaguar Land Rover has already had to part with close on R1bn to upgrade its local dealerships since 2017, and will continue to invest in retail facilities. It has to happen in advance of the arrival of the I-Pace, which needs electric charging facilities.

This will also prepare the company for other electric vehicles, including Range Rover’s plug-in hybrid electric models, says Izak Louw, public relations manager at Jaguar Land Rover SA.

Other manufacturers have also had to invest in charging facilities, and their hope is that the investment will pay off when consumers switch to electric vehicles.

To smoothen that process, Jaguar Land Rover and SA’s Electric Vehicle Industry Association (Evia) are lobbying for more favourable duties on electric vehicles. Louw says: "Government has a key role to play. Electric vehicles do not benefit from trade agreements. Internal combustion engines from the UK have an 18% duty rate and battery electric vehicles are subject to a duty of 25%."

Evia’s Hiten Parmar shares Louw’s outlook. "The taxation of electric vehicles in SA is not conducive to new model introductions due to the high import duty and [added] tax, which [amounts to] 43%." This means consumers face a large additional cost if they make the choice to switch to electric vehicles, he says.

Parmar says the industry has approached the International Trade Administration Commission (Itac) — a body of the trade & industry department — to ask for a reduction of the import tariffs on electric vehicles.

"The current high import tariff for electric vehicles is structured to protect a local manufacturing industry," he says, but points out that no electric cars are being made or assembled in SA.

Last year it was reported that in 2016 BMW had applied to Itac for there to be no import duties on purely electric vehicles.

Louw expects the shift to more sustainable vehicle technology to gather momentum.

However, car makers have to convince consumers of the benefit of making the switch. Anxiety about the range of an electric vehicle, infrastructure concerns and worry about battery life are just some of the fears people have. There is still a predominant fear among consumers that a vehicle won’t manage to reach its destination before it needs to be charged.

The company plans to address infrastructure concerns by enabling home charging for all customers, backed by public charging facilities. An extended warranty of eight years or 160,000km will be offered on the I-Pace, and will be redeemable if the battery’s "state of health" drops below 70%, says Louw.

All new Jaguar cars now come with a five-year or 100,000km warranty as standard.

For the moment, Nissan and BMW offer electric vehicles in SA. Parmar says 352 electric vehicles have been sold since Nissan’s introduction of the Leaf in 2013 and BMW’s i3 entry into the market in 2015. New market introductions of electric vehicles include Jaguar and Audi. Parmar says 5,320 hybrid vehicles have been sold in SA since 2005.

With those low figures, it’s therefore unlikely that demand for electric vehicles will mushroom as it did for cars in the early 1900s.

But change is coming, and the shift to cleaner, greener cities is an exciting prospect.

Roll on 2019
.

 


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#5 Krisjan

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Posted 07 May 2018 - 01:10 PM

Timetable A Scheme Booklet is expected to be despatched to Tawana Shareholders in mid August 2018. The Scheme Booklet will include further details of the proposed Merger, an independent expert’s report, the rationale for the Tawana Board’s recommendation and other matters relevant to Tawana Shareholders’ vote on the Merger.

That would be the hard copy. Read a bit further down the page and you'll see mid July  to ASX. That's when it will be on the web. I received my Old Mutual unbundling hard copy in the post this morning although I knew what it contained long ago.


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#6 sommerso

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Posted 07 May 2018 - 09:31 AM

Categorically stating that I'm still in it for the long haul. Would have felt better if we were R8 a share at this moment, but still believe that this is early retirement


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#7 Dusty Mountain

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Posted 07 May 2018 - 09:26 AM

Scheme booklet mid July........

 

Timetable A Scheme Booklet is expected to be despatched to Tawana Shareholders in mid August 2018. The Scheme Booklet will include further details of the proposed Merger, an independent expert’s report, the rationale for the Tawana Board’s recommendation and other matters relevant to Tawana Shareholders’ vote on the Merger.


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#8 Dusty Mountain

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Posted 07 May 2018 - 09:26 AM

Scheme booklet mid July........

 

Timetable A Scheme Booklet is expected to be despatched to Tawana Shareholders in mid August 2018. The Scheme Booklet will include further details of the proposed Merger, an independent expert’s report, the rationale for the Tawana Board’s recommendation and other matters relevant to Tawana Shareholders’ vote on the Merger.


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#9 Dusty Mountain

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Posted 07 May 2018 - 09:26 AM

Scheme booklet mid July........

 

Timetable A Scheme Booklet is expected to be despatched to Tawana Shareholders in mid August 2018. The Scheme Booklet will include further details of the proposed Merger, an independent expert’s report, the rationale for the Tawana Board’s recommendation and other matters relevant to Tawana Shareholders’ vote on the Merger.


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#10 Dusty Mountain

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Posted 07 May 2018 - 09:26 AM

Scheme booklet mid July........

 

Timetable A Scheme Booklet is expected to be despatched to Tawana Shareholders in mid August 2018. The Scheme Booklet will include further details of the proposed Merger, an independent expert’s report, the rationale for the Tawana Board’s recommendation and other matters relevant to Tawana Shareholders’ vote on the Merger.


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#11 Dusty Mountain

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Posted 07 May 2018 - 09:25 AM

Scheme booklet mid July........

 

Timetable A Scheme Booklet is expected to be despatched to Tawana Shareholders in mid August 2018. The Scheme Booklet will include further details of the proposed Merger, an independent expert’s report, the rationale for the Tawana Board’s recommendation and other matters relevant to Tawana Shareholders’ vote on the Merger.


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#12 Krisjan

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Posted 07 May 2018 - 08:43 AM

Scheme booklet mid July........


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#13 Krisjan

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Posted 07 May 2018 - 08:42 AM

Scheme booklet mid July........


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#14 Dusty Mountain

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Posted 04 May 2018 - 05:10 PM

As per the below points we can deduce as JSE shareholders, and as eligible shareholder`s we will participate in the scheme and be issued with ASX consideration shares.

 

Question being: how do we trade those shares without making use of a oz broker with all the necessary financial and tax implications.

 

Interesting that Amal will appoint a sales agent to sell all ineligible shares.

 

Scheme booklet around 14 August may provide some clarity??????

 

 

 

 

Points effecting JSE Tawana shareholders: - exerts from merge file on Tawana website

 

 

 

Excluded Shareholder means AMAL and its associates. Excluded Shares means Tawana Shares held by Excluded Shareholders on the Record Date. Implementation Date means the fifth Business Day following the Record Date or such other date as is agreed in writing by Tawana and AMAL. Ineligible Shareholder means a Scheme Participant whose address shown in the Register on the Record Date is a place outside Australia and its external territories, New Zealand, Hong Kong, and Singapore and South Africa, unless AMAL determines that it is lawful and not unduly onerous or impracticable to issue or provide a Scheme Participant with an address outside those jurisdictions with AMAL Shares under the Scheme.

 

 

A Scheme Participant (other than an Ineligible Shareholder) who does not validly elect to receive SGX Consideration Shares will receive ASX Consideration Shares. Accordingly, a Scheme Participant who wishes to receive ASX Consideration Shares does not need to make an election under this clause 6.1.

 

 

Quotation of Tawana Shares (a) Tawana will apply to ASX to suspend trading on ASX in Tawana Shares with effect from the close of trading on ASX on the Effective Date. ( B) After the Scheme has been fully implemented, Tawana will apply: (i) for termination of the Official Quotation of Tawana Shares on ASX and termination of official quotation of Tawana Shares on JSE; and (ii) to have itself removed from the official list of the ASX and JSE


Edited by Dusty Mountain, 04 May 2018 - 05:11 PM.

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#15 Dusty Mountain

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Posted 04 May 2018 - 02:31 PM

In going through the Merged file from the tawana website, I have noticed a few interesting points...

 

"The Implementation Agreement also includes customary deal protections for both Tawana and Alliance including no shop and no talk provisions, mutual break fees and a matching right in favour of Alliance."

 

In my view this merger was initiated by Tawana and is open to other superior proposals (other mining groups) with matching right to Alliance.

 

---------------------------------------------------------------------------------------------------

 

 

"The Merged Group will, subject to satisfying ASX’s requirements, become listed on the ASX in addition to maintaining Alliance’s current listing on SGX Catalist."

 

Tawana intends to delist from ASX and JSE, while Alliance will keep its listing on SGX with possible name change "Alliance Group Holdings" and further list on the ASX. 

IMO I don`t think "Alliance Group Holdings" will list on the JSE, but there may be provision for a "cross listing" see wikipedia explanation below:

 

Cross listing of shares is when a firm lists its equity shares on one or more foreign stock exchange in addition to its domestic exchange. This concept is distinctly different than examples such as: American Depositary Receipt (ADR), European Depositary Receipt (EDR), global depository receipt (GDR) (also referred to as international depository receipt), and Global Registered Shares (GRS).

ADRs, GDRs and the like are a mechanism to repackage a security primarily listed on an Exchange (such as Frankfurt) to enable it to be purchased by an investor outside of that market (such as within the US on the NYSE). This is a distinct instrument, as not all the rights may come with the ADR (GDR, EDR, IDR, etc.), and the ADR is subject to the fluctuations of the underlying currency. The original issue (on Frankfurt) would be priced in EUR, while the ADR is priced in USD. In most cases, the ADR is convertible back into the original instrument (but needs to go through a process of conversion). The ADR (GDR,IDR,EDR, etc.) also receives a different ISIN number, recognizing that it is not the same fungible instrument as the underlying stock.


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#16 Dusty Mountain

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Posted 04 May 2018 - 01:47 PM

In my view the spinco is really about the merger of equals and to de-risk the assetts.

"  In addition,  Tawana  will  reserve  to  itself  certain  access  and  water  rights  from  the  Cowan  Project  which  will  support  operations at Bald Hill. "

IMO Cowan will play a supportive role to Bald Hill, rights on access and water and possibly lithium resource if required (being next door to Baldhill), based on my assumption the spinco will not be listed  and will possibly be re-purchased/share swap by "Merged Group" when required.
Spinco shareholders will receive additional shares in tawana or equivalent monetary value of assessed value at time of purchase agreement.

The rest of the spinco assets will also play supportive roles, (Tawana and Major shareholders retain large % of shareholding, New spinco board will have "Merged Group" best interests in mind) be it financial from disposal of "Mofe creek" (don`t see the Iron ore benefits at this time on weak iron ore price, lost over 50% value over the lasts 10 years).

Regarding "Yallari" it would make sense to conduct exploration before considering market sale, could also play supportive resource role for Bald hill albeit 75km`s from Baldhill, bit far and I would think certainly incur considerable transport costs. Makes sense to sell but would rather hold for years to come and see how  the market plays.


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#17 Bullhunter

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Posted 21 April 2018 - 10:47 AM

http://www.engineeri...ears-2018-04-20


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Opportunities are made up easier than losses.

#18 Agent47

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Posted 17 April 2018 - 11:18 AM

Thanks Dusty.
Saxo in Aus also corrected the initial statement that it would be possible to transfer. Indeed it is not possible to transfer.

Some points I received back from Nathan Ryan at Tawana:

1) The main information currently available is in the announcement 05/4/18.
2) More information will be provided in the Scheme booklet (Scheme Booklet is expected to be despatched to Tawana shareholders in mid-August 2018).
3) Under the Scheme, any Tawana shareholder with a South African registered address will be offered 1.10 new Alliance Shares for every 1 Tawana Share held.
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#19 Dusty Mountain

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Posted 16 April 2018 - 10:54 AM

@Hemper9 - Saxo in Aus - https://www.home.saxo/en-au/

But, I am sure you can open a local Saxo account and also trade abroad on various markets. I have a very specific reason for going directly to Aussie Saxo.

 

Update: SAXO SA came back to me last week to say they are unable to transfer jse shares over to asx.

 

We wait on the merger booklet for more info on  provision for jse holders and we can then determine the way forward.


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#20 Krisjan

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Posted 10 April 2018 - 01:52 PM

Regarding uncertainty as to JSE listing on merger Nathan Ryan from TAW comms. stated that JSE Tawana shares will change into JSE Alliance shares. I assume it will be just a name change on the JSE and not a new listing. IMO To sell or transfer your shares to ASX will be costly indeed. 


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