I must say I'm quite surprised by the lack of reaction regarding today's annoucement. But then again, with the registry CXO has I guess I'm not haha
I thought it was a great acquisition by the company, in terms of both growth and strategy. We are being set up perfectly to be a lasting and successful company in the lithium sector.
As a result of the acquisition:
We have taken out a competitor. As was mentioned by someone in a post earlier, KSN is now focused on gold, LIT pretty much hasn't even given their bynoe tenaments a glance (I reckon we will buy their's off them soon enough), this makes us the only key lithium player left in the NT (to my knowledge anyway).
We've acquired an existing mining lease.
And best of all, we've acquired land with PROVEN SPOD mineralisation!
No wonder management thinks we will have at least a 5MT resource very soon.
With this acquisition it increases potential at grants, BP, it gives us a number of targets already with spod discovered, gives us a number of large new peg targets, gives us a number of historic targets with positive Lithium rich soils, and given that the majority of LTR's phase 2 drilling this year was abandoned due to weather conditions, there is real potential to build on and grow the targets identified & discovered by LTR.
Future is looking good for CXO. All the ducks are starting to line up.
I just mailed a box of Chapsticks and gloves to china because the boys at Yahua can't stop licking their lips and rubbing their hands after today's acquisition.
GLTAH.
Won't be long until the next piece of good news is announced!
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