Ann: GL1 Agrees to Acquire 100% of Manna Project and update, page-33

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mrtobias00

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18/12/22

13:33

Post #: 65357525
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Originally posted by SugeKnight: ↑

They rushed to take entire ownership because they knew it was shaping up to becoming quite a significant project

If they waited until later, and after proving up Manna even more, they would have had to pay a much larger amount
Imagine the price they would of paid after this announcement of the new MRE, or after increasing the resource again in 2023, etc.

The current resource announced to market is not even including the remaining assays that are still at the lab (plus further exploration in 3 months time)

Furthermore, with this price they acquired 2 other tenaments (not just Manna) but the tenaments directly surrounding it which they believe are also prospective for lithium. They also cancel out the payments that they would of been paying to BRB anyway (those milestone payments)

You also know they decided to take 100% of Manna with advice from MIN because MIN backed the CR at $2.25 and also increased their stake in GL1 to 9.9% with the announcement (they obviously supported this decision). Its looking like its going to be an open pit mine and in production in 2-3 years time. Manna on its own is already bigger than CXO's project and is looking like it will surpass AKE's James Bay which is 40.3Mt - i dont think people have caught on to this yet

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Your dreaming production in 2 years time more like 4.

GL1 Price at posting: $1.90 Sentiment: None Disclosure: Not Held
1 Upvote

0 Great analysis

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Ann: GL1 Agrees to Acquire 100% of Manna Project and update, page-33

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