Had the smallest of nibbles at this one today. That core full of spodumene from Andrada and their results this year sealed the deal for me. 36.5 entry. Bring on results.
There is a ton of information in the last couple of announcements in regards to the plan for drilling. Extending the drill program without waiting for the first set of assays is really positive and it seems they are full steam ahead.
On the flipside i won't be going hard on this one until results. the SP has slid because there is no results from phase 1 other than "highly successful". I can not base a decision based on an MD telling me it is highly successful without any photos RC chip trays showing pegmatite. How hard is it to say we intercepted pegmatite over such an such interval and a photo or two if it was highly successful?
There is also no mention of spodumene being identified in the RC chips either. You don't have to give a visual estimation of percentages eg 20% spod the fact it is observed could be mentioned, yet they chose not to. Either they are looking to over deliver or the results are poor but that is a risk I'm willing to take.
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