I would normally agree with you on this, except that a couple of...

I would normally agree with you on this, except that a couple of them put down some serious money last year when they were hitting sundown and they are in the same boat as we are. I cant imagine that they are saying "well, lets just keep spending my money that I gave the company on Tara's salary and field trips to canada".

What I really think is that they are a slow mover, and they have run down the bank on activities that could have gone well but didnt. Some of that was luck, someone was just . . ok, I will say it again . . bad luck.

Example

- Halls Creek. Sitting there doing nothing with a fully valued JORC. No ones fault, but what else can it do.
- Minres Yilgairn Royalties. No one could have predicted that and if they did, well, its good for Cazaly that they pulled all that cash out of it before it was realised as not an economically viable mine. Think about it. They sold that mine for a lot . . and the buyer then dropped it after spending far more on it.
- Sundown . . everyone around them was pulling up Lithium "everywhere" .. they picked up a massive piece of land in prime Lithium areas and then they got stuffed by the fires and deadlines. Duster.
- Carb Lake - they had an agreement from the local contractors . . aaand then that was caught up in the larger issues with First nations and the government (they even got a team on the ground that got pulled). Again, who could have predicted that.

The only one I personally think could have been walked away from was Kaoko. Lithium is dead for a long term, why look for it now?

So they are down to a safe and slow Australian project in a lower cost and easier to access drill area. Unlike nearly all the other tenements, you dont need a chopper full time and $100k a day to drill, this is down the road from all the mining infrastructure and already discovered. So a far better chance of a return.

So we have probably one more roll of the dice before we have to sell something or go back to the shareholders. We havent been diluted much and the SP is so bad that "anything" will come good. Just have to hang in a little longer and if you are game, average down.