BRB 0.00% 47.5¢ breaker resources nl

Ann: GL1: Third Rig Mobilises to the Manna Lithium Project, page-4

  1. 2,808 Posts.
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    It is a definitely good news that GL1 is accelerating drilling plans and doing the heavy lifting for their sharholders including us at BRB. However, this is not really changing the program itself in fact it is still a 20,000 mt RC + 4,000 DD and yet market getting excited about the story with a 10% increase in SP. It’s just timing. At BRB they got 3 DD rigs and there was not even an announcement sanctioning the drilling start date and how large the program is. I think the availability of cash and long term plan make the difference here. GL1 needs to get the share price high to keep raising cash hence they announce what ever they can to keep the market attention, for example to me this event it is not a material change and do not even require a press relaese. They need a lot of exploration as they are early stage, without even considering potentially the cost of two mines. At BRB they have got cash they feel they are in control with a big resource, investment in GL1, Manna to pay more cash towards end of year. So for BRB not yet time to pump the price up? It is just more timing and patient requested to holders? Of course we need gold to move to really move the big money from lithium to gold stock…..and at that time it will be the perfect storm for BRB? is our board just sleeping at wheel or there is plan and tehy do not need to advertise now.
 
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