I held all the way through the big spike up to 48c when they announced a 500% increase in their clay resource - i didnt think a market cap of $50 million at that time was excessive given the potential at Bitterwasser.
Now im thinking there just is no real interest in lithium/clay and they should have been aggressively exploring the brines from the beginning.
When the delays for Swanson kept dragged on the only way i could reconcile it was that it was a much bigger deal than expected but for $7 million USD?? Surely we should have stuck to the original plans, released the DFS back in September 22, raised the funds/debt and we would be well on the way to production. Now we are still 18 months away and relying on relations with Hebei to stay good? I thought Phillip and his team are experienced in building mines, i just dont understand such a long wait to involve a third party for only $7 million USD?
Why they didnt raise cash when the sp was much higher also is bewildering with the benefit of hindsight. I thought maybe a cash injection as part of the Swanson buy in but no such luck. With the sp at these levels a standard capital raising wont raise enough to aggressively drill Bitterwasser.
AM7 Price at posting:
15.0¢ Sentiment: None Disclosure: Held
