Ann: Gillett Resource Expands in Size and Confidence - Updated, page-15

I really don't want to be seen as the Hanrahan of the Widgie threads and I am not suggesting that "we'll all be rooned" but ...

Core happened in a different universe to what currently is reality:

• I understand that the assay labs are still taking twice as long to return results than was the case when Core was proving up its resources. Very hard to get momentum when you are waiting months for assay results.

• Demand for drill rigs remains high, which means longer waits and greater costs than was the case in recent years. So you either have a faster cash burn or you do less drilling (and until the AI guys prevail, mining exploration is all about drill, drill, drill).

• Any number of WA miners are having to adjust their plans in recognition of ongoing staff, and more critically, talent shortages. Widgie I would imagine is a skeleton crew and MD Steve's primary focus has to be on bringing the Armstrong nickel project into production in the next 5 months and to move the Widgie South project into the next near-term nickel project. That should be a full-time job for him in itself. And none of Widgie's top team claim in their bios to have any lithium experience or expertise so they appear to be lithium cleanskins.

All these factors slow the rate of progress that can reasonably be expected of even the most energetic of executive teams.

So while I like that Steve Norregaard is being aggressive / ambitious / hungry / impatient I do think we need to recognise that players like Global Lthium are all those things as well and I have not seen any suggestion that GL1 will be earning revenue within the next year or so (they've been on the path for some time already).

And lets get back to the original point: Given that Widgie has one nickel project just about ready to go and is making good progress on preparing a second nickel project for development then Widgie remains a nickel play with some lithium potential.