Ann: First Drill Hole Started in Brazil, page-991

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Tcb007

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21/06/24

12:54

Post #: 74424843
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Originally posted by Paul88 ↑

Well from the sat images we can't see any new tracks or drill pads around BRDH001. As a result, we can suggest that there were no further drill holes (and even if there were, maybe scissor ones?). I can only imagine three possible outcomes:

1. Massive hit on visuals (pend the assays to allow time to acquire the neighbouring tenements - which maybe explains the action along strike on the neighbouring tenement about 3-4 weeks after ground is broken at Boca).

2. Complete and utter duster (even if so, why stop at one hole? You'd put a few more holes in before pulling up stumps surely. After all you've paid a decent swag in option fees. Maybe a short-term pivot away from lithium given lithium is in the doldrums and niobium is the darling of the day? This makes sense especially given OZM appears to have lucked-in with its pegging of ground at Catalano and Salitre and will need to raise funds shortly. Selling the niobium potential would make it easier to raise funds in this environment rather than a spruik of the lithium. This would explain why OZM has already started exploring Salitre since 20 May).

3. BRDH001 is neither good nor bad and doesn't move the needle in a material sense. Therefore consideration needs to be given whether to acquire other prospects with better potential than Boca and leave Boca on the backburner for now. This makes sense because funds are low and funds will need to be raised shortly. A new acquisition coupled with a placement is par for the course at the spec end of the market.

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That core did look juicy from afar when AP gave it the thumbs up. Game of chook lotto at the moment, hopefully AP can finally update the market on Monday.

OZM Price at posting: 5.4¢ Sentiment: Buy Disclosure: Held
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Ann: First Drill Hole Started in Brazil, page-991

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Ann: First Drill Hole Started in Brazil, page-991

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