You are right. There is no chance of a CR until, at a minimum, the Lithium price has bottomed, and it's in an uptrend. With $80 plus mill in the bank earning interest and some spod in reserve for sale later at higher prices, it's just rekax and wait. While they and we wait, $80 mill should bring in circa $4 million a year interest.This will cover a few of the wages of management and the C& M staff. In the meantime, the Li resource is being increased, and we may get lucky with gold and rare earths. If there is a it will be much later at a materially higher SP and a much larger Li resource. A CR will likely be small. The other option is debt which would not be significant.
CXO Price at posting:
11.5¢ Sentiment: None Disclosure: Held
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