Today, June 13, there have been three pieces of news related to the wishes of the Australian mining company (and some local political leaders) that need to be seen.
The day, in Spanish time, began with the Australian stock market, where the shares of Infinity Lithium, Ltd., have fallen to 0.050 UAD, their lowest value in a year, in the last year. And meanwhile, a few days ago, technicians from the Government of Extremadura described the request for a direct concession as economically viable.
The day, following Australian time, has brought another news: that, after obtaining the favorable technical report for the direct concession, because it is technically and economically viable, the company has presented all the necessary documentation to obtain all the permits and licenses. and thus be in a position, they say, to begin exploitation of the mine at the beginning of 2025. We will have to wait until tomorrow to know what impact this news will have on stock market sentiment.
In this sense, the value of the mining company Infinity Lithium, Ltd. has lost 54% of its value over the last year.
The third news is that the mining company’s Cáceres hitman has informed the Cáceres Basket board that it will reduce its contribution significantly, going from 250,000 euros in previous seasons to about 20,000 euros «commitment.» That’s because the club has been relegated and what was said a few months ago that the hitmen would maintain their support for the club, whether in Leb-Oro or Leb-Plata, nothing at all.
Three pieces of news that, one by one, do not seem to say anything, but when read together they show a reality: the Australian mining company needs to stop as soon as possible the downward bleeding of its values on the Australian stock market, because surely, if the fall in the value of the company continues for longer, This action could lead to the stock market regulatory body ending up excluding the company from its indices. The times are not so far away when the Cáceres hitman ventured that in a very short time they would jump onto the floor of the Madrid stock market.
To stop this bleeding of losses they needed to make an announcement, such as that they have presented the documentation so that, finally, they are granted all the permits and authorizations to start using fertilizers with aluminum powder.
In the announcement posted on the Infinity Lithium website it says “The Company is pleased to have advanced the ECA submission to the point of assessment, with an opportunity for further government support to accelerate permitting and provide the endorsement through to a final investment decision. “We will update the market in due course on the timeline to the next stages of development which have been impacted by the robust process undertaken by regional authorities to date.” Translation: “I am pleased to have advanced the ECT submission to the point of evaluation, with the opportunity for further government support to accelerate permitting and provide support through to final approval of the investment decision. We will update the market in due course on the schedule of the next stages of development which have been impacted by the robust process undertaken by the regional authorities to date.» From the literal translation to the actual meaning of what was said by Australian kingpin Ryan Parkin , I leave it to the readers’ taste.
The loss of confidence of the hitmen in the Cáceres Basket project is the confirmation of a display of arrogance, of believing that they already have everything tied up and well tied up. And arrogance is a characteristic trait of the “CEO” of the hitman.
OK.
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