Ann: Finniss Lithium Project Update, page-133

yep

wannabe lithium producers like MLL and LTR have their lithium deposits, and so while they wait for the lithium sector to turn, seems they are looking to diversify and add value by focusing on other projects. So I wouldn’t be surprised if we do the same and see some action at our gold and silver prospects, whilst at the same time in cash preservation mode.

Looking at our silver, after the campaign at blueys and Inkheart an MOU was signed where a JV partner could earn up to an 80% interest in the project for spending $2mil on exploration. Seems the MOU fell through (shades of Ruifu?), but I guess the key takeaway is that someone was nearly willing to cough up $2mil for an 80% interest back when the price of silver was about $15 per ounce. Right now the price is at $27 per ounce.

So if we were to conduct a small campaign, say 12 holes to a depth of 150m for a cost of $200k, and we got lucky and got some significant hits, then given the current silver boom (price up about 55% in the last 6 months), what might we be able to sell the project off for? $5mil? That would be most welcome cash in the kitty! Not to mention the hopefully positive impact drilling a hot commodity would have on the SP.

And then there’s the gold

Could be an exciting campaign coming up

IMO

GLTAH