I sold out of the stock to use the tax loss, but did have an intention to buy back as does hold some possible prospects but obviously a risk/reward equation here as is any play in an exploration stage. Thanks for the tag as well.
See they are still continuing with exploration work on the gold prospects like Dimmer, albeit they probably need to quicken the pace, and have started sampling the lithium tenements now. Having a read of the Trident Anns must say they need to put some drills in, so essentially currently doing some low level exploration work, meaning taking samples and rock chips etc. Whilst Trident was been looked at as a IOCG prospect, seems like on the tenements themselves they have other geology types, which is really where the focus of this Ann is at, focusing on the pegmatites and looks like in particular the amblygonite by the looks of it.
Some of the historical results seem interesting, and some of the grades look exceptional in the rock chips but all they do is provide a gauge of prospectivity only IMO. My interest in the Ann:
The rock chips from Triumph Mine through to Sceptre Mine are actually interesting and very very good, but they are rock chips so it does boil down to how consistent the grade is in the pegmatite itself and the extent of the pegmatite. Grades do vary so drilling will be a key here as well as say any EM and DHEM surveys they do. They clearly have identified some targets that could hold a lithium resource, but time will tell.
I particularly found this comment interesting in the previous Ann:
The point here, is the comparison to Greenbushes in this Ann needs to be treated with caution as Greenbushes, i.e. its pegmatites, are spodumene based btw. Albeit they need to define a JORC here first, so extent of deposit still an unknown here.
The key to battery grade material is also ensuring a deposit has low deleterious elements. It seems too me amblygonite can have a greater level of deleterious elements than spodumene, so if the grades above are amblygonite, which I suspect they likely are, the balance is around costs of removing deleterious elements. If the grades above are spodumene based they are really exceptional (i.e. the top ones) and they should just drill to see what is there..
Whilst this headline rock chip Li20 are interesting you need the total picture to form a view. But below I did some conversions for yourselves on what the grades mean around ore body and concentrate produced.
The key is deleterious elements - there are three key deleterious elements to remove been phosphorous, fluorine and iron. Amblygonite contains more of these so it always comes down to economics and how easy it is to produce the concentrate required by downstream converters for producing say a hydroxide/carbonate product btw. But firstly here you need to demonstrate a sufficient resource and only drilling determines that so will be interesting what there future plans for that are her IMO, given appears they are still at the sampling/rock chip collection stage.
For those that have an interest in lithium, I have been posting in a 'peer comparison' thread in one of HC general categories. Below is a post in one of those threads Post #:52508425 with this post providing links to other posts where I also talk about deleterious elements, how you produce a concentrate which is what we generally export, and how those buyers produce carbonate/hydroxide that ultimately finds its way into the batteries. Also talk about demand/supply characteristics. So anyone who wants more info can simply look at that thread etc.
The point been they need to demonstrate the actual geology and rock type and where the lithium is actually coming from, rather than using the broad LCT term.
Hope the above helps, and for me it was nice having another look at this company. Will seek to keep an eye on it.
1. So firstly conversion variable for going to an oxide = 1/((6.941*2)/(29.8814) = 2.153
2. LiAlSi2O6 has Li of 3.73 so converting that to an oxide, by multiplying by 2.153, becomes 8.03%
3. So if saying something has 7.63% Li20 content and the pegmatite is spodumene, in effect saying the 95% of the ore to be fed into the subsequent ' processing plant' is spodumene (which is exceptional), at 56% of the ore body spodumene equates to 4.45% Li20, 19% equates to 1.56% Li20, and 13% equates to 1.05% Li20 in the specimens.
1. From the above link, Li content in it is 3.44%, meaning conversion to an oxide is 7.40% Li20. I guess yourselves can do the rest. 2. Albeit, I have read it can contain up to 10%, suggesting higher Li, so chemical conversions below may not be fully true, albeit the makeup would not differ in itself.
Deleterious elements:
Table below for spodumene: Amblygonite table below: Unclear the exact chemical formula so the tables below are provided for amblygonite:
(20min delay)