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Agreed. After all the hype about the world-class lithium deposit...

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PhilMiner

264 Posts.

37

07/09/20

19:18

Post #: 47153031
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Originally posted by WoodySpoon: ↑

Nowhere or down given the huge dilution.

This might work out very nicely in the end, find a good zone or two either around Morilla or our land, but the project has a lot of proving itself to do before a SP rerate. It might also just provide an ok-ish income for a company with the MC at $100 mill - but that's a decent "worst case" IMO.
It's a shame they couldn't fund even 25% via debt to limit the dilution which I'm very disappointed about.

I guess it's better than sitting still on a lithium deposit nobody wants for at least 2 years though. There is potential upside in the next year, and that's far more than we had a week ago.

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Agreed. After all the hype about the world-class lithium deposit "that nobody wants", now the board are suddenly trying to hang on to their salaries by buying a gold mine! Excuse me for being cynical, but if the mine is such a good asset, why would someone sell it?

MLL Price at posting: 19.5¢ Sentiment: None Disclosure: Held
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