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Ann: Manna Lithium Deal to Fund Gold Focus at Lake Roe Project, page-172

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FreeflyerNZ

1,109 Posts.

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30/04/22

07:52

Post #: 61117578
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Originally posted by FreeflyerNZ: ↑

There's lithium bearing pegmatites to be discovered all around that area I'm sure.. but is Breaker going to do anything about it?

BRB are just too incompetent. They don't see how the market is valuing these projects, and too stupid to explore it.

We can ride the back of GL1 and get drip feed money to fund the gold project but it definitely wasn't a wise decision.

the company has an old-school mentality and what I've seen as a shareholder isn't moving anywhere quickly.

Take for example. Sayona buying 60% of Moblan, a 12mt 1.4% Li2o, (slightly higher grade then Manna and only slightly higher tonnage). If they were to buy the whole deposit this would equate to 280m Australian dollars!

This is similar in size and grade but just slightly less on both fronts. But I'm sure BRB shareholders would be a lot happier with 280m added to the 85m market cap where we are at now. Keep in mind spodumene prices have run a lot higher since this deal was completed in September!

it beggers belief that while drilling for gold they couldn't send the drill rig a mere 15kms down the road, yes, just down the road from where they are drilling out the gold resource!

So they can pat themselves on the back all they like but in the mean time we are getting no market attention. Sentiment for gold stocks is, and has been, terrible for a long time, despite the inflationary pressures.

They are also quiet on results. Why did we not complete a scoping study/pfs for the open pit to start mining. After all, it seems they are focused on drilling the underground extensions which will be mined underground. Why not have a phase 1 and drill the extension as we head towards production as a phase two underground operation? It would require less Capex and the grade of the open pit and tonnage is sufficient enough to be a standalone operation..

Have to wonder if they are doing the best for shareholders the way they are running this company.

I'm holding because they have a good resource that is clearly economical. But faith in management has dwindled over the last few months and I don't believe they are interested in targetting any pegmatites that may be in the area.

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Put it this way if they drilled it out as quickly as GL1 did, delivered a maiden resource estimate, sold it off, along with a bigger land package...BRB could possibly be fully funded for its gold project, and require no debt or capital raising to get there!

all for a few million spent on a drill campaign right next to Bombora!

BRB Price at posting: 26.0¢ Sentiment: Hold Disclosure: Held
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