Howdy all,
First time poster on DLI, but pleased to say a very committed holder, only recently coming on board just as the ticker changed from RDT to DLI.
Quick back-story, I have been methodically undertaking quite a bit of research across a number of lithium plays on the ASX (there are literally hundreds), and by far the standout was DLI.
I am already in a number of larger Li plays but was keen to take some capital and redeploy into 1 or 2 junior "up-and-coming" Li stories. I am not a fan of overseas jurisdictions (sovereign risk and all that) so very much wanted to stay in my home state of WA. I think hard rock lithium is the way to go and the fact WA generates over 50% of the world's lithium, well as I said, there's a few potential gems to look at. TBH, after reading some excellent posts and analysis on this forum, and when compared to some other attractive OZ Li plays, DLI was a bit of a no-brainer.
FWIW I always look at potential upcoming catalysts, be it short, medium or long term. I am also a big fan of Flano. He is an absolute straight shooter, someone I have respected over the many years he has been in mining, specifically Atlas Iron but a few other companies as well. I warm and relate to his passion, energy and absolute focus on delivering share holder value. He is know for under promising and overdelivering.
I make sure I watch whatever IR presos or seminars/conferences he is in. I make a point of always watching the MD speak for whatever company I look to invest in, especially the Q&A sessions. If it is a poor performance I don't invest. I commend Flano on his delivery and presence. How good were those money mines vids? Outstanding work IMO, hard not to get excited by the story. And the fact that he has existing relationships with the likes of CE of MIN and GR of Hancock, well it also seems to be a no-brainer for them to be buying DLI on market.
So short term we have the catalyst of mining licence being granted for Mt Ida and fingers crossed, cracking dirt before Xmas. Then (IIRC) we should see DSO spod shipped ~12 months after that to start bringing in the FCF. This is critical to help fund our ongoing "operation swiss cheese" and avoid diluting us holders to buggery thru CRs.
Then we have the short to med term constant news flow from 12 rigs drilling like swiss cheese at Mt Ida and Yinni, with the respective assays being fed to market over the coming months, well into 2024. If it's anything like the assays we received last week, watch this space and watch this SP go north, IMO. Even at $500m MC we are under valued, IMO.
To give a comparison on drilling, DLI has a target to drill 20,000m per month, and has already drilled over 50,000m at Yinni alone, and then we compare with the WA Li giant of MIN, they have just announced having completed their first 6 rig drill campaign at Mt Marion for 34,000m. We are likely to triple that this year! These figures alone shows you how aggressive Flano is in smashing out the drills to define this resource at Yinni and further resource expansion at Mt Ida with infill drilling. Testament also to the fact that the vast majority of dollars in the bank is going straight into the ground... this is no lifestyle company with directors taking the piss.
So, we know about in WA the "lithium corridor of power" and it is fast becoming evident that DLI has some absolute prime acreage in this very corridor. How many other companies are referencing DLI in their presos.... even MI6 did it the other day. But TBH one of the most astounding facts that made me sit back and wonder to high moon, and I'm not sure the market has honestly grasped this, is the fact that DLI's current Li resource of 12.7mt Li at Mt Ida was generated from only 1 mineralised pegmatite the width of (in Flano's words) an "average sized dinner table". Now for Yinni... the monster that we believe it could well be... DLI have mapped - 74 - pegmatites (54 at Malinda and 20 at Jameson). And one of those pegs is 700m long and 100m wide! And as the assays start flowing thru with the recent drilling results, both from M36 include:
o 33m @ 1.9% Li2O from 218m in YRRD118
o 19m @ 1.6% Li2O from 190m in YRRD114
it is not hard to see the potential here for a monster, high grade, Li deposit. If Mt Ida was 12.7Mt from 1 peg, what could 74+ pegs at Yinni deliver? Provincial scale indeed.
Again, to help put this into some comparison, most here will know of LTR and their Kathleen Valley Li deposit, LTR currently has a JORC resource of 156Mt @ 1.4% Li. This, FWIK, is from only 20 mineralised pegs. Imagine what DLI could potentially find with 74+ pegs at Yinni plus more drilling at Mt Ida. And LTR has a current MC of $6.5bn....
So yeah, Flano, committing to defining a 100Mt Li, I think this is very achievable, not easy but achievable. But what does everyone think about DLI potentially defining 200Mt or 300Mt or 400Mt Li... coz that is what I am thinking... Is it possible? Could DLI be potentially sitting on geology that could host the largest hard-rock lithium mineralisation in the world? Absolutely, and that is why I am invested, in a very big way.
Apologies for the long post... very excited to be a holder here, if you can't already tell. Looking forward to the next 6 months and into 2024. Big things are coming for DLI.
GLTA
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