Bearing Lithium Corp. (fka BLILF)

[Dr_Vonschellan]

Pardon_me. I_made an_error on_LOM value._Revised Ver_11_PPS calcs below
In my rush to produce an up-to-date value for BLILF (version 10) based on the possibility of a JV with Codelco I inadvertently "bent" the LOM (Life Of Mine) projected value way out of whack when I was coincidentally also lowering the lithium sale price from $14,400/mt down to $12,400/mt . The previous version 10 net-net result/estimate of $4.50pps for just BLILF in July 2023 still holds but the calculations to get to that end value are today forward more representative of real world conditions on our MSB SpA property. Sorry for any confusion that may have resulted earlier in the week.

Footnote for the bean counters:
The truth is that we could produce 103,376 mt/year of LCE if there were no artificial constraints placed on us and we were working full blast in perfect conditions during the lithium production phase. To make the proposed 60,000 mt/year export quota (and to meet political constraints from the dark side) we have to deliberately "throttle back" our production in the version 11 budget by 42% not 80.7% as previously mistakenly reported in the earlier version 10 budget generating a mistake which inadvertently helped "warp" the gross tonnages several times too high.

And so our Story starts again as before.
Once upon a time there was...
1. Let's assume Codelco wants 66% of the entire company.
2. Let's assume Codelco will cover all the CAPEX.
3. Let's assume Codelco will transfer to this project 40,000mt of their already approved LCE export quota bumping the project up to 60,000mt LCE.
4. Let's assume we tap into the 400m deep "sweet/extra" brine which we know is hiding down there.
5. With these assumptions the entire project (ie all 4 partners) now becomes a $2,813,337,500 project.

Lithium Carbonate Equivalent = 2,070,000 Tonnes
Price Li2CO3 = $12,400 /Tonne
20-year life span of mine LOM = 20 Years
LOM Life Of Mine Gross value = $25,668,000,000

Tonnes production 100% capability per year = 104,000 Tonnes
Tonnes production 99.4% w/Conversion per Yr = 103,376 Tonnes click here
Throttle back Max to reach Export Quota (SUBTRACT) = 42.0% click here
Tonnes LCE production capability per year = 60,000 Tonnes
KCL production, Nil first 3 years 0 Tonnes
Mine gross revenue per year = $744,000,000 *

Operating Expenses per Tonne itemized
Chemicals & reagents $1,040 /MT
Salt Removal $486 /MT
Energy $1,028 /MT
Manpower $458 /MT
Employee services $105 /MT
Maintenance $295 /MT
Transport & sales $237 /MT
G&A $123 /MT
Operating Expense per tonne Li2CO3 $3,772 = ($226,320,000) *
Operating Expense KCl/mt for 222,000 mtpa $145 = ($32,190,000) *

Capital Costs
1000 Brine Extraction Wells $39,400,000
2000 Evaporation Ponds $115,300,000
2500 Massive Soil Movement $0 ____was $6.25M
3000 KCL Plant $0 ____was $23.4M Note: NO Potash sales first 3 years (222,000mtpa after 3 years)
5000 Salt Removal $66,400,000
6000 Lithium Carbonate Plant $71,600,000
8000 Genral Services $103,300,000 Includes 600 staff/workers
9000 Infrastructure $60,000,000
Total Direct Costs $456,000,000
Total Indirect Costs 9.82% $44,779,200
Contingency 12.50% $62,597,400
Total Capital Cost $563,375,600
Depreciate Capex of $563M over 20 years = ($28,169,000) *___ To be fully paid by Codelco JV partner
Revenue after expenses ST = $457,321,000 *
National Royalty (ref 1932 Chilean law) 3% = ($13,811,000)
Local royalties / community payment / Tax 7.5% = ($34,299,000) (page 9 of PEA)
EBITA = $409,211,000
(Ref MSB corporate tax rate is 27% see page 12 of 43)
Estimated Income 55% of EBITA 55% = $225,066,000

___________________________________ CapRate __ Company Value __ Shares __ July 2023pps __ Foreign $
LPI income per year 17.3% =___ $39,026,000 __ 8.0% __ $487,825,000 __ 331,000,000 __ $1.47 __ $1.89
MSB income per year 10.5% =__ $23,722,000 __ 8.0% __ $296,525,000 __ __ __
Codelco income /yr 66.0% =___ $148,544,000 __ 8.0% __ $1,856,800,000 __ __ __
BRZ income per year 3.56% =____ $8,016,000 __ 8.0% __ $100,200,000 __ 48,317,131 __ $2.07 __ $2.74
BLILF income/yr (Study) 2.56% =_ $5,759,000 __ 8.0% __ $71,987,500 ____ 16,000,000 __ $4.50 __ NA
_____________ 100.0% _______ $225,067,000 ______ $2,813,337,500 __
NPV, Value of BLILF at Cap Rate 8.0% = $72,000,000

Number of BLILF shares = 16,000,000
Projected value of BLILF share July 2023 = $4.50 PPS

Interest Rate = 5.0%
Nper. Number of months in study = 48
Minimum appreciation per month per share 1.66% = $0.075 /mon/share
BLILF Future Value July 2023 = $4.50 PPS
Type (payment at beginning) = 1
Value of BLILF share August 2019 USD = $0.99 PPS

Value of BLILF share September 2019 = $1.06 PPS
Value of BLILF share October 2019 = $1.13 PPS
Value of BLILF share November 2019 = $1.21 PPS
Value of BLILF share December 2019 = $1.28 PPS
Value of BLILF share January 2020 = $1.36 PPS
Value of BLILF share February 2020 = $1.43 PPS
Value of BLILF share March 2020 = $1.51 PPS
Value of BLILF share April 2020 = $1.58 PPS
Value of BLILF share May 2020 = $1.66 PPS
Value of BLILF share June 2020 = $1.73 PPS
Value of BLILF share July 2020 = $1.81 PPS
Value of BLILF share August 2020 = $1.88 PPS
Value of BLILF share September 2020 = $1.96 PPS
Value of BLILF share October 2020 = $2.03 PPS
Value of BLILF share November 2020 = $2.11 PPS
Value of BLILF share December 2020 = $2.18 PPS
Value of BLILF share January 2021 = $2.26 PPS
Value of BLILF share February 2021 = $2.33 PPS
Value of BLILF share March 2021 = $2.40 PPS
Value of BLILF share April 2021 = $2.48 PPS
Value of BLILF share May 2021 = $2.55 PPS
Value of BLILF share June 2021 = $2.63 PPS
Value of BLILF share July 2021 = $2.70 PPS
Value of BLILF share August 2021 = $2.78 PPS
Value of BLILF share September 2021 = $2.85 PPS
Value of BLILF share October 2021 = $2.93 PPS
Value of BLILF share November 2021 = $3.00 PPS
Value of BLILF share December 2021 = $3.08 PPS
Value of BLILF share January 2022 = $3.15 PPS
Value of BLILF share February 2022 = $3.23 PPS
Value of BLILF share March 2022 = $3.30 PPS
Value of BLILF share April 2022 = $3.38 PPS
Value of BLILF share May 2022 = $3.45 PPS
Value of BLILF share June 2022 = $3.53 PPS
Value of BLILF share July 2022 = $3.60 PPS
Value of BLILF share August 2022 = $3.67 PPS
Value of BLILF share September 2022 = $3.75 PPS
Value of BLILF share October 2022 = $3.82 PPS
Value of BLILF share November 2022 = $3.90 PPS
Value of BLILF share December 2022 = $3.97 PPS
Value of BLILF share January 2023 = $4.05 PPS
Value of BLILF share February 2023 = $4.12 PPS
Value of BLILF share March 2023 = $4.20 PPS
Value of BLILF share April 2023 = $4.27 PPS
Value of BLILF share May 2023 = $4.35 PPS
Value of BLILF share June 2023 = $4.42 PPS
Value of BLILF share July 2023 = $4.50 PPS

The Doctor