An unknown direction

CXO announcement on Napperby uranium shows that CXO is heading into another direction away from lithium. This does not happen in a day or two. So, something would be going for months and weeks not known to the ordinary investors.

CXO knows that It has found feneiss lithium deposit but that is very small. Further drilling at 200m spacing showed some lithium prospects but they were again very small and patchy to be classified as commercial find for lithium.

No doubt, CXO has obtained exploration leases on a very large area but its new direction suggests that CXO is not very confident finding a good and commercially viable lithium deposits in those lease.

In my view, CXO wanted highly prospective lithium leases in Mt Cattlin but those leases were already taken by Charge Lithium Pty Ltd and is now acquired by Cohiba Minerals Pty Ltd.

So, not sure of CXO another direction. Possibly, it is another way of taking CXO investors to unknown territory away from lithium.
DYOR