No IR1 is not going bankrupt.
However the SP is heading to 10c which would equate to a $13mill MC. That is what a lithium explorer with a half decent project that is currently not economic is worth.
LLI, CY5 - Both decent tenements - Both $10 mill MC. I give IR1 a 30% higher MC compared to them because IR1 - Beecher is on existing mining leases which is a positive.
Really hard to see this recovering anywhere near the previous highs. A $80 mill MC would be a huge rebound which could only happen on new exceptional drill results at Beecher and Tin Mountain. Which is still only around 70c at current dilution.
The previous $180 mill MC was heavily over priced in a lithium pump.
"When the tide is out you can see who is swimming naked" - @ $180mill MC IR1 was swimming naked for sure.
Ann: 2024 Annual General Meeting and Related Material, page-21
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