The assay results didn’t come back in time to make the November...

First 40 Last

Share
Profile

Follow
Kaeho

7,420 Posts.

1786

23/01/22

23:59

Post #: 59077140
Share
Originally posted by triage: ↑

Yeah so Lithium Australia effectively retain 44% of each of the three projects (they hold 30% of each of the projects and they hold 20% of the CHR shares). Also the Lithium Australia MD is a director of Charger. So, good chance of lots of backseat driving imo.

Here is a presentation by the Charger MD, David Crook, from October (hat tip to hippo). The Charger segment starts at about 37 minutes.

Just a few of the notes I took:

DC pointed out that since listing in July to October the number of shareholders had grown from about 400 to about 1400 but the top 50 still had strong control, holding about 66% of the shares. DC may be MD but it doesn't look like he has been given free range.

Even with only about 50m shares issued, which is relatively few, about 2.5 million of them are locked up until July 22 and another 13m remain locked up until July 2023. So the tradeable shares at the moment is only about 34.5 million.

Just one slip I thought DC made in the presentation: he said that it was not possible for Charger to get any drill rigs onto Bynoe (which is the block surrounded by Core up near Darwin) until after the wet season. But later on he mentioned that on the day he was speaking he knew Core had drill rigs onsite and drilling. Charger should have been busting a gut to get on with Bynoe so how come they didn't also have rigs working onsite?

I think there needs to be a real sense of urgency from Charger, particularly regarding Bynoe. To me, that is the money ball, it is literally in the middle of an active mining project. I noted the comment from another poster suggesting that getting permits to kick rocks at Lake Johnston may not be straight forward, and DC referring to lithium deposits 70 clicks away is stretching the nearology pitch imo. And it seems that tenements close to Challice are about as common as bricks from the Berlin Wall.

With a market cap of $42m I don't think Charger is as sure a thing as Essential Metals was at $42m. Given how the lithium tide has been rising all boats will benefit I suppose.

Expand

The assay results didn’t come back in time to make the November drilling before the wet season kicked in.

BYH are sampling Lake Johnson for drilling. Let them drill it out and we will have a second nearology play But yeah I think the earl grey lithium was a bit of a stretch to claim nearology.
CHR Price at posting: 84.0¢ Sentiment: None Disclosure: Held
2 Upvote

0 Great analysis

Reply

Top Stories

SGQ

Traders watch with interest as St George Mining reveals REE hit

ASX Market Close: Index rebounds as investors buoyant | July 30, 2025

WC8

Investors shrug as Wildcat's latest lithium drill hits fail to excite

ASX Market Open: Local bourse tipped to trade red after same on S&P500

MHK

Metal Hawk shares sink -50% as gold drill results disappoint

First 40 Last

Add to My Watchlist

What is My Watchlist?

A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.

(20min delay)
Last 4.9¢		Change -0.001(2.00%)		Mkt cap ! $3.793M

Open	High	Low	Value	Volume
5.0¢	5.0¢	4.9¢	$3.885K	79.22K

Buyers (Bids)

No.	Vol.	Price($)
1	11222	4.8¢

Sellers (Offers)

Price($)	Vol.	No.
5.0¢	570	1

View Market Depth

No.	Vol.	Price($)
1	11222	0.048
3	127222	0.045
2	62478	0.044
1	69767	0.043
3	115000	0.040

Price($)	Vol.	No.
0.050	570	1
0.053	25000	1
0.059	179071	1
0.060	49605	1
0.065	46173	1

Last trade - 10.16am 31/07/2025 (20 minute delay)

CHR (ASX) Chart

The assay results didn’t come back in time to make the November...

Traders watch with interest as St George Mining reveals REE hit

ASX Market Close: Index rebounds as investors buoyant | July 30, 2025

Investors shrug as Wildcat's latest lithium drill hits fail to excite

ASX Market Open: Local bourse tipped to trade red after same on S&P500

Metal Hawk shares sink -50% as gold drill results disappoint

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

The assay results didn’t come back in time to make the November...

Top Stories

Traders watch with interest as St George Mining reveals REE hit

ASX Market Close: Index rebounds as investors buoyant | July 30, 2025

Investors shrug as Wildcat's latest lithium drill hits fail to excite

ASX Market Open: Local bourse tipped to trade red after same on S&P500

Metal Hawk shares sink -50% as gold drill results disappoint

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News