Ke Rong Qing general, hello. The company's quarterly has just come out, dynamic and static relatively large, everyone is watching laptop battery you this "Asian lithium-King." Can you tell us under the acquisition value.
Ke Rong Qing: This is an investment up to 73.1 million yuan acquisition of financial sector 51% stake in lithium, in addition to direct ownership of 5.114 million tons Li Hui quarry outside the mining rights, but also control of nearly 30 million tons of underground quarry Li-hui, while sipping the base cards remaining 52 million tons of regional lithium-hui also have a priority right to develop the quarry.
"Lithium Mine King"
Money Weekly: whether there are any recent progress?
Ke Rong Qing: From September 4 entry into force of the tender offer, business process until all the processing is completed in October. We will enter the stock after the commencement of substantive work, mainly on four aspects of grasping, one team-building, and the second thing is to standardize management, the third is the production of debugging, the fourth is the final acceptance.
First, team-building. Talent the team FRU 92P1121 , I made a bigger effort, and now has been basically doing a good job, there is a general manager, two Deputy Director, a Deputy Chief Engineer and a Chief Engineer. The General Manager and Chief Engineer of which are new and come outside, and they have 10 years of working experience in mines, the total workers are 20 years of mining experience, 10 years of industry experience, lithium, so the objective is concerned, there are two individuals to to take charge, I would be confident. Deputy Chief Engineer of the sum of a deputy from the original team, as well as a vice has always been our original investment planning department manager. This is the basic situation of the entire management team, the recruitment process is taken into account through, after all, taking into account the working environment of the plateau, has undergone pre-communication and site visits. Executive team has been formed, while the construction of first-line management and technology is the key, the next step should have been up and down the whole team can basically build up confidence for the team.
Second, standardized management. This is not only the requirements of mining enterprises, but also the requirements of listed companies, financial up Compaq Laptop Battery lithium industry is not a listed company before, now we have acquired, it becomes a public enterprise. One of the benefits of standardized management, is to resolve the remaining issues over the past years. Members may be in doubt, why is mine so many years invested has not yet put into production, why are there so many disputes. There are many reasons for this, objectively speaking, it is the ethnic areas, the need for adequate communication, deal with problems to be more cautious. And on the other hand, the mine in the original engineering design, process debugging, including technical strength, security, management strength, organization and other aspects of systematic, are not quite enough.
Third, production debugging. Work is done in front of those based on co-ordination with the states will be opened too, and we strive to complete acceptance of this year, next year, after the smooth production of the spring. This requires to be out of something by the end of next year, can we create something. Work is now underway idling debug debugging and cast materials, mainly of two parts, one mining, second is dressing.
Mining affected by climate, the current Armada M700 is normal, as long as no snow, no ice, we can implement blasting mining, but also because of global warming, less snow in the mountains has been, and are often the next night, the next day stopped, and down the ice after not easy. We are in October and November have a mining plan. Other hand, the dressing is not subject to climate impacts, the dressing is to obtain lithium concentrates, need to debug, we have three objectives, one can not be out of product, and second, can high-quality products and the third is able to high - quality, low-cost products, the second and third point is that the ways and purposes.
In order to reach the end, we found a technical forces to support, and the Changsha Mining and Metallurgical Research Institute in co-operation, which comes directly under the central government SASAC for us out of a few experts to do a task, there was a fellow assistant, two return to Dr. Prof. doing, in the original improvements on a technical basis. Therefore, the technical EVO N400c process that we are a business and research institutes working together.
Fourth, the final acceptance. Including all the work, environmental protection, water conservation, fire protection, security, etc., state and county department heads have been opened will be the hope that the full support of enterprises. We are inside the four key mining state, one of the state's economic development is significant, part of the state's tax revenue returned to the state county, and it can be said is that we and the local people has become a body of common interest.
Lithium Carbonate Strategic faucet
Money Weekly: This mine plan is like?
Ke Rong Qing: Generally speaking, I am out of the end product, through the acceptance are confident that next year the normal spring production is also confident.
Our work plan for the first quarter of next year, there are several, one from the daily processing capacity of 800 tons should be expanded to 3,000 tons, the second is to hold the follow-up of the mineral rights for mining, authentication, and now the mine is 134 clock part of the We consider the other parts of the win, the roughly 30 million tons. There is a deep-processing work is started, it is necessary to become lithium carbonate lithium ore processing. Next year we will launch the project EVO N410c (annual production capacity of 10,000 tons of battery grade lithium carbonate. Then, Li Hui from the ore - lithium ore - Battery Grade Lithium Carbonate - Lithium battery from the melting up to Lithium - Rong Czech Group - BYD, Li-ion industry will melt up to complete the formation of a lithium-industrial chain, the company annual output value is expected to reach 10 million.)
Engage in this mine up, we are leading enterprises in the country, and we got a very good resource, combined with our large-scale development, we will become the industry's leading enterprises, we are very confident.
In short, to engage in mining up to become leading enterprises in the country, there is confidence and confidence comes from the company's large-scale development, mining is good, but scarce resource.
Money Weekly: Do you want to bring a Luxiang what position? Framework is how to plan it?
Ke Rong Qing: As Lu Xiang, the first decade only did asphalt materials, available in 2007, after years of use 2008,2009 market, setting up shops, hair-scale, national plans have been basically formed, seven large area 8 subsidiaries, now 4 The four wholly-owned joint venture, joint venture, which became wholly owned by the possibility of restructuring. It should be said EVO N600C first plate has been basically completed, asphalt at the bottom of the industrial chain of crude oil, as crude oil a great influence on a second pages, help reduce risk, improve returns in the future may engage third plate, three plate both professional and support each other. The second section is a new energy, the third plate to be, as the case may be, hope is a technical product, technology, value-added products, there are long-term direction.
At present work is to concentrate on two plates, the third section is also too early to say. We are industrial companies, financial, services, investment is not considered in the future third plate is still not considered mature. Over the first two years of the development section, next year we hope the scale into the effectiveness of the past two years crude oil fluctuations, relatively high costs of setting up shops in front. The amount of 800 million contract for next year already, so next year, 10 Jige Yi contract is no problem.
There are four major aspects of asphalt, modified asphalt sales, modified bitumen processing, heavy cross-trading and re-cross-asphalt asphalt agent. Processing done in the past are more and less in the future want to increase the sale of modified asphalt.
Second, if the spring next year, after the mine to resume EVO N610C normal production, which itself is a relatively stable income, lithium is a very good vision, in addition to electric vehicles, cell phones that a well-known, as well as wind, solar energy storage devices may be even greater than the electric cars Forum! Many people do not see this level. Countries are to sustainable development, we must take into account wind and solar power, to save energy, the lithium can not be separated. National Energy-third of the world, coal, petrochemicals and new energy, new energy is mainly nuclear, wind and solar power. Intensity of large state subsidies, that is, to promote the development of new energy sources. We are mine, not only good for industrial grade, we have made the battery level, a very high grade. I went to mine with the staff speaking, the development of new energy sources, is an urgent need for human survival problems, our work now is to the benefit of society as a whole, which is doing business sense and social values.
With regard to the issue of money
Money Weekly: whether the relationship between the next three blocks? What is your logic?
Ke Rong Qing: three plates correlation is not necessarily required, or to the upper middle and lower reaches in the industrial chain, I am concerned about is per view should be professional, and now has become the first plate leading enterprises, the second plate also being efforts.
Money Weekly: Cost is a problem how to balance the current asphalt and mining operations require two large costs, which require considerable resources to drive, such as funding and personnel.
Ke Rong Qing: Yes, the first volume of a plate increases the need for funding, and the second section the follow-up investment needs money, the question EVO N620C is indeed critical to enterprise development. I have a cursory inspection, the three quarterly Lu Xiang shares to a 63% debt ratio, it is quite high.
Ke Rong Qing: We have a high debt ratio is in fact a trade reasons, to do analysis. The three quarterly high rate of our debt is because the company is ready to start Dongchu Liaoning, the person paid in advance more than one billion, the money came in after the pressure increase our debt ratio, because if after coming into stock in the case of a concept a. This money and large, more than one billion, I have digested the material, and liabilities on the down.
Sub-case approach to debt ratio. Simply put, because I was winning the tender the project, with the price agreed upon, with Sinopec, CNPC agreed a price, downstream is the road, business is a single, price agreement, it is the two locked risk business. Now if the contract, he would dare to give you money. This is a contract financing. Our customers are very single, business is a very single, then the project next year, now then, the two are locked. With regard to accounts receivable problems, highway industry has a billing cycle, but we have the money can be recovered, so many years and we do not have bad die off, the risk of the low.
Money Weekly: I want to know. Do you have a book Presario 1200 on the investment and financing, costs and benefits of the account? For example, you have these two businesses next year, how much capital investment next year, in the end?
Ke Rong Qing: This I am sure is there, but why disclose it? For example, the follow-up to 30 million tons mineral rights acquisition cost? Assessment is what the price, I, as a business course, the lower the better.
I am this time next year is the purchase price and not comparable. This time I was buying up stakes in 2005 when the mineral rights to take lithium concentrate only a few hundred yuan a ton, but also at a loss to do, and now at least 2000 a ton, casually doing is making money. Therefore, it is two concepts.
Money Weekly: So, how the follow-up financing arrangement? How to configure?
Ke Rong Qing: We have listed companies platforms, regardless of bank financing, the securities market, including issuance of bonds, equity financing, there is this platform can do, follow-up will be multi-leg walking, banking and capital markets will do. As for the mineral rights to purchase the follow-up next year, the financing of capital markets tend to go this route, through equity financing, which is preferred, it should be further consideration as to the end of the year. In fact, this issue, we listed the relevant of these institutions have also been in Presario 1800 communication with us.
Working capital through banks, investment depends mainly on capital market financing. Because you are talking about working capital, the SFC will not be awarded to you, can only be submitted for approval to go through the project financing.
Money Weekly: At present, the market for lithium extraction methods discussed more heated is the salt lake brine mining extraction or extraction, in this regard how do you think?
Ke Rong Qing: The spodumene extraction technology is mature, salt brine, there are technological barriers and financial barriers, capital demanding, and each local geological, chemical, the situation is different, not every lake can do the battery level of lithium . In South America there are more mature, in the country needs to go to a breakthrough. I personally hope to achieve a breakthrough in salt brine, I was happy to see the. Can not produce anything because the domestic market was foreign accounts, the future demand for lithium-large, serve the country's new energy.
Salt lake brine lithium inside magnesium and other impurities, it is necessary to get rid of impurities costs are relatively high. The past errors, that the salt lake brine extraction than the high cost of ore extraction, which is depends on which region of the lake, the domestic terms, brine extraction technology has not yet break the Presario 700 bottleneck.
Early modified asphalt not yet ready, their foreign money that is relentless, and this I deeply understands. After the State of new energy development so desire, a great demand. Brine extraction will break even, and we still have room for development, but a profit-Bo Hou problem. Do not think I would hope that others can not for their own success, can not be too narrow, and from one country in terms of a nation, which we do business must have a sense of caring. On the case is a typical example, Rio Tinto, made in China, not, people will be wantonly foreigners asking price.
Money Weekly: I think you are a very strong control of desire, and this is not related to your military background? You mentioned several times to "wholly-owned," including this project, and this agreement in the end how the betting going on?
Ke Rong Qing: Oh, this is indeed one of my management philosophy. The "gamble" the agreement led to a lot of controversy in society today, let me discuss some of the details at that time. At that time a deputy secretary of the Ganzi Prefecture Government from the Government's point of view put forward a number of programs, then the transition to the company and talk to me and Rongjie this program. The outset, financial McNair is not willing to give up controlling stake, it's the bottom line is that 50% to 50%, but Lu Xiang is a listed company, and in business management, I have more experience, I would insist on controlling the relative holdings Yehao absolute Holdings Anyhow must be controlled or become the largest shareholder. In the end, it was time to not allow further delays, that affect the follow-up things again and again Finally, we come up with the program is investment bank, appraisers, accountants and firms come out of these institutions. They said, no words, like other business entities engaged in a "gamble" agreement. Well, then take over the stake, doing bad, then give him an escape route. Agreement is the beginning of the 18 million penalty, in fact, the concept of 900 million. This matter may have caused to the public a lot of illusion.
Money Weekly: Do you really want to buy the whole stock over?
Ke Rong Qing: In this area there are many ways to deal with, an analogy speaking, we can hold 49% of the shareholding of become our shares, are able to operate, the current mode of operation are varied, a change platform to operate there are possibilities. Now is not the focus, this problem will not affect the mine to lose confidence, or not optimistic. If you do not optimistic about the case, there would be other companies like HTC shares (600,331, stock bar) to fight the. Not because the right bet the agreement, shareholders of BYD there is doubt in this respect, concerns, and this is entirely the two concepts.
Therefore this problem can make it clear that I generally say this much, but do not say outside the one-sided understanding of some of misreading.
Money Weekly: Lu general the reason why he is willing to sell it?
Ke Rong Qing: Lu general is actually very successful, he wanted to promote investment in high finance, there are some attractions, but not necessarily engaged in industrial strength. Why he is willing to cooperate with us then, he saw that we can complement each other. Therefore, there does not exist who is eating whom.
Money Weekly: Do you feel a few more worried about heart problems?
Ke Rong Qing: challenges of doing business every day, for our part, from its inception to the present phase of the development of growth, do each of the decision-making is through scientific consideration and procedures, so far have not faced more difficult issues.
Money Weekly: Which are most concerned about?
Ke Rong Qing: I am most concerned about is the human problem, selection, staffing, management of personnel.
Money Weekly: Man enough?
Ke Rong Qing: Man is enough to get, but the need for a self-improvement issue.
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