It takes nine 9 months to make a baby so the saying goes. Could...

It takes nine 9 months to make a baby so the saying goes. Could this be accelerated? Maybe.



I maintain that a JORC resource is what ASX investors "bet on" - its the catalyst IMO - but that doesn't mean FLG can do more.. I don't know why ASX investors are this myopic. Ask Agnico Eagle if they believe in the Ni 43-101 report. Or Barrick, Kinross ... or down our end RIO2.

That big green bar - the EIA process - that's ongoing and something that occurs in parallel and not serially.

FLG has only had Pantanillo for less than a month. Looking at the outcomes, its noted that getting from NI 43-101 to JORC might require twinning some holes (4-10) or about 1,000m - 2,500m of DD and reassaying these cores ... Hopefully not (expense). They also talk of infill drilling for JORC Resource but then note Ore Reserves ... which is more for DFS than PFS. Reserves are BANKABLE (doesn't mean you'll get a loan because you still have to get your balance sheet in order ... but perhaps a streaming company will partner on that basis??)

It's ho-hum because the FLG needs more capital than it has and shareholders and investors aren't willing to risk putting more in. PL not willing to raise more than he needs to get to the next "value multiplier" ... look at peers.

Commodity investors take on commodity price risk - investing rule 101 - anyone here check what SC6 is priced at ... I'll save you the trouble ... US$618/t for SC6 ... so SC5.5, 5.4, 5.3 would be at ~$550 and lower. Even mighty Pilbara Minerals goes tits up at that price. The genius (Ken Brisden and I know he is no longer there) behind Pilgangoora to 2Mtpa of spodumene production would be what now???

Investors that took the lithium price risk - that invested because of RKLP, because of Lithium, because of Thailand and its ambitions for being #1 in SEA EV supply chain - that investment is tits up. It's gone. Up in smoke. Worthless IMO. It cannot compete for capital in FLG's stable of projects (and neither can Tama Atacama as much as I like it. SQM, Albemarle and Rio Tinto will dominate in brines, which means they dominate Chile & Argentina and the Lithium Carbonate supply chain Ex-China.

So maybe it is ho-hum, but its ho-hum because PL can not get a hold of $5M, $6M needed to quickly get the Reserves and expanded Resource for a JORC than ASX investors understand. If PL can keep FLG's head above water Pantanillo is the Life Raft.

All in my opinion - however forcefully I may have stated it.