Ann: Heritage Clearance Obtained & $4M Placement Completed, page-41

Great news for RR1, what we've been waiting for which is for drilling to start at Yinnetharra.

I'm pretty happy with that raise, most give free options and a 15% discount.

DRE management, Dean Tuck apparently speaks quite highly of the RR1 team and seems they've done right here by shareholders, I was expecting a raise in Q4 potentially post drilling but at least now it's done. No dumping either for a quick flip, they'll have to pump it higher a bit and I expect a move to 1.4-1.5c would be on the cards as we get closer to drilling starting on 14th August, plus samples still to be released too so lots of news flow this month and through to end of the drilling.

Cash total now comes to $5.23m in the bank ($1.23m as per end of June last quarterly).

Delta Lithium management have continuously publicly and very vocally said that their Yinnetharra project is potentially substantially larger than their Mt.Ida project, which is further ahead of their Malinda but they're drilling at Yinnetharra as we speak.

RR1 as can be seen on the map is right on their doorstep, with the up coming drilling targets only 10km from Malinda. No guarnatee it goes our way but there's already some intiail samples to suggest there is something there but it's the best chance out of all the nearology plays, one can't get any closer.

For an example of a big lithium player taking interest in their neighbout take a look at Global Lithium (asx:GL1) with a $474m market cap increasing to a 10% shareholding of their direct neighbour who's only at a $64m market cap.

Heritage approvals done
Drilling to start
Cashed up

Only thing now is for the drill bit to show what's there.

Being stuck between MI6 and DLI there's high chances of something very likely being there and then becomes a battle of who will want it more out of those two bigger players, I imagine Delta.

I very much liked the comments from CEO Jeremy: