In recent months, construction work has gone on at a fast pace at Bald Hill in Western Australia, transforming bare ground into a vast network of mining machinery. @ AGM in Oct 2017: Shareholders were eager to hear of the progress of construction work at the Bald Hill mine from Tjandra Pramoko, the CEO of Alliance Mineral Assets. NextInsight photo. Lithium ore will be dug from the ground and processed, starting in a matter of weeks. With that, Bald Hill is set to become the 4th producer of lithium concentrate in Australia, driven by co-owners Tawana Resources and Alliance Mineral Assets, and participate in a nascent revolution which will put electric vehicles on the road globally. “It’s been tremendously quick,” Tawana Resources MD Mark Calderwood told Paydirt in its Nov 2017 edition. “A year ago, we hadn’t even started drilling. It’s probably going to be one of the quickest development projects in West Australian history, from the start of drilling to production. “We’ve had good support from our shareholders and our offtake partners are quite eager to get product.” At least US$200 million worth have been committed for delivery from Bald Hill over two years under an offtake agreement between the purchaser, Burwill Holdings, and the producer, an Alliance Mineral Assets -- Tawana Resources JV. The offtake agreement provides for high operating cashflow and high profit margins. (See: ALLIANCE MINERAL ASSETS: Strong cashflow, 185% IRR for starter pit) At the AGM of Singapore-listed Alliance Mineral Assets on 30 Oct 2017, breath-taking photos of the landscape and the construction work held shareholders in rapt attention. Watch the slideshow (2 minutes and 31 seconds) with the music turned on! --> |
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