Lithium Explorer looking at Lynas Find in WA plus Tenements in Nthn Portugal
(Portugal is the leading lithium producer in Europe; it also has public policies deemed to be highly supportive of mining: it ranked in the global Top 10 of all countries in the Fraser Institute 2015 Survey of Mining Companies for Policy Perception Index, an assessment of the attractiveness of mining policies.)
SoI: ~570M Fully Dil. (plus another 60M IF they find specific amounts of Li. )
MC: ~40M (Fully Dil)
Cash: $14.1M as at a week ago.
SP: 0.07
On the 2 May 2016 the Company completed a placement to institutional and sophisticated investors raising $12.3M (before costs) by the issue of 61,658,473 Shares at $0.20 per share.
You can see from the chart below, the SP dropped not long thereafter and you can see from the 'Vol on Price' bars that nowhere near the recent placement shares have been cycled through since. Hence they are well under water (if they haven't already offloaded at a loss). So if they are still in, they have a good reason to push the SP back up to placements levels.
Indeed, the SP has been consistently sold well down since then, despite repeated annc.s noting elevated levels so Li bearing spodumene mineralisation at both projects. And the stock has been barely traded (Vol wise) for the last 3 weeks.
Nevertheless the 2nd graph below shows an Asc. Triangle in play (albeit on minimal Vols) with a break upwards with slight increase in Vol on Friday. This thing is due for a run up imho.
