Ann: Field Work Commences - Lac des Montagnes Lithium Project, page-181

I’ve decided to join the Malibu cup, I couldn’t resist. I’ve had my eye on this company and a few other Canadian players over the past few months. Still yet to take a position in the other couple but will in due course. There are that many Canadian players now listed on the asx it is hard to keep up with them all but I am mainly focused on players who have prospective land close to or on greenstone belts as this is where previous economic discoveries have been made. In my opinion, this will give the investor the highest probability of success, you definitely need a bit of skin across 3 or 4 with prospective land as unfortunately some won’t come off so you need to be prepared to lose it all.

Everyone who is investing here knows the success of Patriot and Winsome and where their respective deposits are located. For full disclosure I only own Winsome and now this company. I was an early stage investor in Winsome and bought when they had an Enterprise Value of 25 million (averaged down to around 23 cents) as I trusted the management and what was outcropping at surface, it was long before they drilled and identified what was underneath. Hopefully lighting strikes twice as I took an entree position here at 23 cents albeit at a halved EV or close enough to.

I bought here because I was impressed with the outcropping at surface, somewhat reminds me of the early days of WR1. However, with that said, it all comes down to what is buried underneath, is it dirt or is it granite pegmatites containing spodumene, only time will tell. Rock chip samples showing material lithium could quite easily double our market cap, I’d free carry in this instance just to take risk off the table.

A director buying on market recently spruiked my interest especially the timeframe around purchase (post having boots on ground, will be interesting to see what samples are released) and ‘before being considered to be in possession of price sensitive material information whereby directors can’t buy due to the blackout conditions of the asx’. I was also encouraged by the most recent video with our director who indicated that they had 8 geologists on ground prior to the devastating fires. This shows that they mean business and are not messing about. Funds are being spent on discovery and exploration which is music to my ears. I’d rather our directors go hard or go home. Time in this game is important and they know that time is of the essence. This next 6 months is crucial for exploration in Canada so I am looking forward to management going hard and spending our money on exploration. Hopefully it won’t be too much longer and companies like ours receive clearance to continue exploring.

I like my Canadian plays dedicated and focused on this jurisdiction, no distractions with other deposits held in different countries whereby you are subjected to different and sometimes confusing/challenging operating conditions and regulations. Canada in my opinion currently has the most favourable exploration and capital raising (flow through funding) regime of all countries in my opinion. Looking forward to the next 6 months here, good luck to all and let’s see who becomes the winner of the Malibu cup. All the best, cheers CP.