Apparently the lithium index popped 3.something % overnight, might see some buying.
For me new tenements and new drill campaigns = new expenses. Which is a cart being put before the horse at this stage. I'd like to see the first project underway with a FID and and income coming in ASAP - THEN drill to their hearts content once debt is repaid. Though I do recognise it's important to secure the tenements and do a minimum spend ITMT to keep them in our hands. And management SHOULD try and drive the best deal possible for our product and that does take time. I think them getting prepayment to assist the capex spend would be the sticking point atm rather than price formula which they'd be linking to 6% spod and downstream prices.
I wonder what prompted the drill spend on Ewoya? A converter wanting more LT assured supply? Converters make more money when they have a regular stream of product from the same project as they have their settings highly refined to suit that specific spod.
A11 Price at posting:
38.5¢ Sentiment: Buy Disclosure: Held
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