Ann: Extensive LCT Pegmatite Field at Yandal Project, page-2

The size and extent of the pegmatites are similar to the Liontown Kathleen Valley deposit according to the Hammer announcement. The soil samples to 137ppm Li2O and old RC drill holes resampled to 592ppm Li2O are a sniff but not economic, nor are they claiming them to be. The thickness and stacked nature of the shallowly dipping pegmatites is encouraging if they grade is there when drilled. I would be looking for something above 1%, say 1.2-1.4% Li2O, to get more excited. They have a valid exploration target, lets see how it goes.

I have been out of lithium shares because I see a long term oversupply, this has cost me a few bags from market madness that seems to infect lithium stocks. The brine lithium in South America and and hard rock lithium in WA are both growing fast as new discoveries are made and mines come into production. To some extent I think that the boat has sailed in terms of the market getting excited about a few lithium sniffs.

I would be more excited about a long term Molybdenum offtake agreement to help get Kalman off the ground.

We have quite a few drill results due and I suspect a few good copper hits amongst them. Fingers crossed.

DYOR. Not investment advice.