Ann: New High-Grade Zone Discovered at CV13 - 34.4m @ 2.90% Li2O, page-117

Makes perfect sense. Amazing you can't follow his logic.

PMET had some amazing strikes and pulled out a big number for its MRE.

Holders got fat on the hype of hearing how good PMET was. The best, you believed.

Then the reality that what's in the ground needs to come out of the ground. Efficiently.

It appears management stayed quiet on that reality.

Looks like some holders now cannot adjust to the fact that PMET is a long way from best when it comes to that reality.

The best bits of CV5 is in a lake.

The bits that can be mined first are lowest grade and smaller crystals. Likely not amenable to DMS only.

Two dams and 20 years to get to the best bits.

Lots of big CAPEX spend and significant holder dilution from here before revenue can come rolling in.

Then the plans, no doubt supplied by PMET to Argonaut, that an underground mine would be the best way forward.

Seems that they need to do that to mix the lower grade stuff that could be mined early with higher grade stuff via UG to avoid floatation.

The conventional wisdom in the current market is that UG and float are not viable - certainly not for greenfields.

Peers creeping, creeping - looking better every day as they progress towards early production.