So EFE currently at $30m cap due to a Chinese MOU. Their Trigg Hill project is 80km SW of MBLP and has produced a few tons of tantalum and tin concentrates in the 1980s. There has been no drilling of the pegmatites that are claimed to have surface spodumene and lepidolite.
We are $50m cap with an inferred resource of 10mt and likely to double that by end of year. We have completed geophysical and geochemical programs to improve the geological understanding of the MBLP and completed three RC drill programs over the Archer deposit before listing on ASX, which including the following intercepts:
(i) 16m @ 1.4% Li2O from 37m (MBRC0077)
(ii) 14m @ 1.5% Li2O from 64m (MBRC0114)
(iii) 19m @ 1.2% Li2O from 22m (MBRC0041)
(iv) 15m @ 1.3% Li2O from 30m (MBRC0035)
My question: what happens to our MC if/when we announce resource upgrades, MOUs, offtakes etc.?
GL1 SP discussion, page-76
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