Yes, we have lost a lot of solid contributors over the past 18 months in here. It is a shame, but who can blame them, most of the thread is now trying to navigate through disgruntled ex holders who obviously sold at a loss and now hold a grudge. Many seem to repeat the same lines on the back of every announcement like "great for kitchen benchtops", "good granite resource" etc. It is definitely very old now!
Why they continue this is beyond me? Maybe they are angry they lost a lot of cash and can't cope with a situation where existing holders or new holders may enjoy profits at stages along the journey. We are an exploration company so of course there will be plenty more occasions where we rally on the back of exploration news. Today was no different and I am sure some even made a tidy profit of 20-30% today with the Lithium potential news.
We have 4 projects now actively in the spotlight. Mt Alexander with Ni-Cu-PGE and now Li and rare earth's potential. Patersons Cu-Au project with assays returned in approximately a month now. Plus the Ajana and Broadview projects with maiden drill programs planned for Q4 this year. Plus further drilling of these updated targets at Mt Alexander in Q3. Plenty going on and a lot of newsflow to come about to round out the year. $4.1M still in the kitty as of the end of June. 1 - 2 Quarters of funding remaining, we will need a CR by the end of the year IMO but if good results continue to be returned, no reason why we can't raise above the 7c mark later this year (depending on the quality of results) and then really ramp up exploration in hopefully some better market conditions.
IMO those that really wanted out and sold out at the lows would have done so by now. The main reason for the share price dropping so much has been low volume selling enabling the price to trickle down. As soon as some good news comes, and volume increases, it is very easy to quickly climb back up. With some good assay results from Patersons, we could easily work our way back to 7c IMO. This would de-risk the company significantly, with one of our main projects showing resource potential.
As with today's Li results, early days so I won't get too carried away. However, these 3 main readings below show there is plenty of potential in the area and the next task is to now explore each general area for more Li-bearing pegmatites. The frustrating thing is more assay wait times because XRF hand readings can only pick up pathfinder minerals and not the Li directly. If today's results were isolated and we didn't have the historical and greater knowledge of other public companies you would definitely be holding back on celebrating too early. However, considering that RDT have now proven a Li resource nearby, we have plenty of potential and should be optimistic. I will explain below
- Li2O 228 or 2.28% & Rb 1260ppm
- Li2O 206 or 2.06% & Rb 1140ppm
- Li2O 338 or 3.38% & Rb 43ppm
Initial RDT Announcement 28/09/21 below in relation to the Mt Ida project which enabled their share price move from 17c to 77c. At the top, you can see the pegmatite outcrop with similar percentages to ours. This initial outcrop result is a similar stage to what we are up to... (you have to start somewhere!) Then with historical information they were able to interpret the Pegmatite below the ground per the image.
During the past year with a combination of their own drilling and assaying of old historical drill core (cheaper than drilling their own), RDT were able to progress to the below resource and define the Pegmatite (Announcement 13/05/22). Now there are some decent thick intersections below so there's no wonder why their share price has held up relatively well during this poor time in the market. Plus it is still open! However, they are quite deep which will make it costly to get to.
• IDRCD171 intersected 34.17m @ 1.32% Li2O from 332m including 12.43m @ 2.13% Li2O from 334.5m
• IDRCD104, intersected 19.86m @ 1.77% Li2O from 285.4m including 14.84m 2.06% Li2O from 300.43m
• IDRCD173 intersected 13.49m @ 1.69% Li2O from 251m including 6.85m @ 2.21 Li2O from 257.74m
In relation to SGQ, today's announcement stated that they are currently now undertaking "Systematic rock chip sampling and field mapping of pegmatites is underway at Mt Alexander to finalise targets for drilling in Q4 2022"
Now if management were clever, they would be going over the 'Geoview' open public database/GIS mapping and looking at all historical drilling and if any core is currently stored in the state core library. Splitting up that core into the pegmatite zones and testing for Li and every other relevant mineral! They can undertake the exact same process as RDT did and get an interpreted pegmatite trend going. IMO I would be doing this first and getting assays back in around 2 months and hoping the market bounces hard before any future CR. Especially if the Patersons Cu-Au assays do not meet expectations.
Incredible potential here imo!
Also - Any non-holders or disgruntled holders still complaining, moving forward I will now put you on ignore unless of course, you can add some relevant information like above. But I highly doubt you are capable of spending any time on investigating things (probably just repeat the same old lines). With all the different chances and projects at play I am definitely sticking around for the long haul. Good luck everyone else.
