Ann: Drilling to Commence at Salar West, page-113

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Vars84

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22/09/19

19:20

Post #: 40516595
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Originally posted by jas626: ↑

i agree also BMG is now at the pointy end now and the long awaited drilling is going to happen before the end of the month and at 1.3c and a MC of 8 million with 1.5 million cash it provides some serouis leverage on any decent lithuim hits.

and its not just any lithuim project. this is as good as it gets, the meca of lituim brine projects.

- in the lithuim triangle - tick

- cash for drilling - tick

- massive land holding ( 20k hectares) - tick

- neighbours with billion dollar market caps - tick

- close to surface drill targets - tick

- over half the worlds lithuim reserves - tick

- highest grades ever found? up to 1800mg - tick

- good drill target, yes 12km strike lenght for drill testing, with massive conductivity - tick

- cash for more drilling? yes the directors are confident the options will be exercised so that means 7 million more in cash
and a SP well over 2 cents from here, which given the complelling drill targets i think is pretty easily done would still give a MC under 15 million

- how long do we have to wait for results? short period of time, drilling under way this week with samples sent of in early september with a couple of week turn around so could have results by mid september, or around 2-3 weeks.

- good directors, haha i know ive been very critical of the directors and the speed at which they work at, but at the end of the day the directors are loaded with shares and want a positive outcome in line with other share holders and have taken no payment to get the project up and running and took a year waiting for the right project, and i think they have found a great one here imho. also the drilling is by a drilling company so the speed of the drilling will be out of the directors hands from here on in.

imo this is a great 3 month hold as the drill program kicks off, the directors will want the options taken up to have the 7 million to contuine to drill targets without raising more capital

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The quote been 'this is as good as it gets, the Mecca of lithium brine projects'. followed by a long list of ticks.

BMG Price at posting: 0.7¢ Sentiment: Hold Disclosure: Held
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