The protracted “auction war” of snowway mining finally ended, and 54.29% of the equity was pocketed by the mysterious man Tan Wei with a “sky high price” of nearly 2 billion yuan.
Previously, the financial Associated Press reporter pointed out in the report “uncover the hidden past of delanuoba lithium mine: the 95% equity of snowway mining was sold for 470000, and some officials were” sacked “that the fourth exploration right reservation of delanuoba lithium mine of snowway mining was promoted slowly and there was a risk of loss of mineral rights.
Despite the obvious defects of delanuoba lithium mine of snowway mining, capital is willing to pay a high premium for it in order to compete for the hot lithium resources. If we consider the equity consideration, debt and increase the price of exploration minerals, the price of a single ton of LCE in this auction is nearly 8300 yuan. The reporter of the financial Associated Press learned through calculation and comparison that the price is even more expensive than buying “lithium king” Ganfeng Lithium Co.Ltd(002460) ( Ganfeng Lithium Co.Ltd(002460) . SZ).
According to the evaluation report on the detailed exploration right of delanongba lithium mine and quartzite mine in Yajiang County, Sichuan Province, which takes June 2021 as the base date, the retained resource reserves of delanongba lithium mine are 24.92 million tons, Li2O is 293200 tons, and the average grade is 1.18%; There are also associated ta2o and other resources. The conversion coefficient of equivalent LCE between lithium oxide and lithium carbonate is 1:2.47, that is, delanongba lithium mine has 720000 tons of LCE.
But in addition to the equity transfer price of 2 billion yuan, the mysterious man Tan Wei may have to pay additional costs.
According to the announcement of the manager of Yajiang County snowway Mining Development Co., Ltd. on the fourth public recruitment of intended investors, as of December 31, 2021, snowway mining has confirmed the amount of creditor’s rights of 1 billion yuan.
In addition, in August 2016, due to the failure of snowway mining to pay 1.279 billion yuan of the “increase of exploration minerals” price of delanongba lithium and quartzite exploration rights announced by Sichuan Provincial Department of land and resources, the evaluation result has become invalid.
If the amount of creditor’s rights and the price of increased exploration minerals are converted according to the proportion of 54.29% equity, the amount is 1.237 billion yuan. If the equity auction is 2 billion yuan, the total consideration may be as high as 3.237 billion yuan.
According to the equity ratio, the LCE cost of this auction may be as high as 8300 yuan / ton. This price is almost the highest in the major lithium acquisition cases publicly disclosed since 2022.
The financial Associated Press reporter found that Contemporary Amperex Technology Co.Limited(300750) its Yichun era competed for the exploration right of jianxiawo mining area, with the equivalent consideration of 132 yuan / ton LCE Zijin Mining Group Company Limited(601899) acquire 70% equity of lagocuo lithium salt lake in Tibet, with a consideration of about 3269 yuan / ton LCE Xinyu Ganfeng, a subsidiary of Ganfeng Lithium Co.Ltd(002460) company, acquired songshugang tantalum niobium ore at a consideration of about 719 yuan / ton LCE.
More notably, Zhongtai Securities Co.Ltd(600918) relevant research report shows that by the end of 2021, Ganfeng Lithium Co.Ltd(002460) equity resources will be more than 30 million tons of LCE. Based on the total market value of Ganfeng Lithium Co.Ltd(002460) closing 174.7 billion yuan on May 20, the equivalent consideration is 5823 yuan / ton LCE.
This means that even without considering the production capacity and technology of Ganfeng Lithium Co.Ltd(002460) , the equivalent LCE consideration of purchasing snowway mining is more expensive than that of purchasing “lithium king” Ganfeng Lithium Co.Ltd(002460) .
Some analysts said that the scramble for resources has become white hot, including 3q, lagocuo and other resources previously acquired by Zijin. If they are not bound, they are likely to cause irrational bidding behavior of participants in the form of auction. It also said that this price needs to be treated rationally. “It is the embodiment of strong demand after high price acquisition or in the future, but we need to be vigilant not to become a victim of the lithium cycle.”
Fierce battle for 5 days and 5 nights, with a transaction price of more than 2 billion yuan! The mystery of exploration rights remains to be solved
