RR1 (ASX) Ann: Heritage Clearance Obtained &amp; $4M Placement Completed

Brilliant News and I agree with all on this thread, the moment we've been waiting for, Less than 2 weeks to go, + Soil/Rock Chip Sample Results should follow very soon! Agree with you Architect with your last post. Great imformative Post as usual

Originally posted by TheArchitect: ↑

Quit spreading misninformation and fear mongering, there's no consolidation coming. SOI whilst high is normal for this end of the market and any consolidation that might occur won't be at a mere $30m market cap but at a $3 billion valuation (not saying this is going to that level, simply that there won't be any thought for consolidation beyond the idiocy of HC until that level), so stop this stupidity and focus on what's really at hand. Delta Lithium are more likely to takeover RR1 before any consolidation comes if the upcoming drill results are good.

A consolidation doesn't change the value of your investment, doesn't matter your share holdings size. Market Cap value is what matters, what you're referring to are the poorly run companies that find no projects worthwhile, have to restructure after so many cap raises and do a consolidation especially if they need to re-list. If the company has a very good project then a consolidation won't matter and shareholders gain in the same way from the market cap gaining value because of the project having value.

Focus on the market cap, not the shares or share price; only thing for shares is how far the market cap value can realistically move in price, so currently RR1 would be approx.

$60m market cap at the 2c level
$120m at the 4c level
$240m at the 8c level
$480m at the 16c level

Anything beyond the $60m market cap will need to have substance behind it to sustain, regardless of how many share are on issue.

Drilling is finally here on what's a very promising tenenement with heritage approvals done, drill contractors mobilising to site...that's the only thing that matters here.

The stupidity of this forum continues to amaze me after so many years.

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Originally posted by TheArchitect: ↑

Great news for RR1, what we've been waiting for which is for drilling to start at Yinnetharra.

I'm pretty happy with that raise, most give free options and a 15% discount.

DRE management, Dean Tuck apparently speaks quite highly of the RR1 team and seems they've done right here by shareholders, I was expecting a raise in Q4 potentially post drilling but at least now it's done. No dumping either for a quick flip, they'll have to pump it higher a bit and I expect a move to 1.4-1.5c would be on the cards as we get closer to drilling starting on 14th August, plus samples still to be released too so lots of news flow this month and through to end of the drilling.

Cash total now comes to $5.23m in the bank ($1.23m as per end of June last quarterly).

Delta Lithium management have continuously publicly and very vocally said that their Yinnetharra project is potentially substantially larger than their Mt.Ida project, which is further ahead of their Malinda but they're drilling at Yinnetharra as we speak.

RR1 as can be seen on the map is right on their doorstep, with the up coming drilling targets only 10km from Malinda. No guarnatee it goes our way but there's already some intiail samples to suggest there is something there but it's the best chance out of all the nearology plays, one can't get any closer.

For an example of a big lithium player taking interest in their neighbout take a look at Global Lithium (asx:GL1) with a $474m market cap increasing to a 10% shareholding of their direct neighbour who's only at a $64m market cap.

Heritage approvals done
Drilling to start
Cashed up

Only thing now is for the drill bit to show what's there.

Being stuck between MI6 and DLI there's high chances of something very likely being there and then becomes a battle of who will want it more out of those two bigger players, I imagine Delta.

I very much liked the comments from CEO Jeremy:

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Agree

RR1 Is squeezed in a very nice spot with MI6 and DLI on that Leake Springs Metamorphic Trend Geology

GLTAH & RDYOR .....Exciting few months coming up until the end of the Year!