Ann: Menzies Lithium Exploration Update, page-2

So underwhelming. The highest lithium rockchip grade here is 0.045%..or less than one twentieth of a percent...

Management have run this exactly as was predicted pre-merger.

The KWR tenements are where the attention and value really is.

There has been massive dilution and relatively low share price...and management have gifted themselves a nice chunk. (On-market buying is nice, but insignificant). @sainters2020, sure a market cap of $50m+ is / was inevitable the way it has been reached though is through huge amounts of dilution which is not ideal for exisitng shareholders.

So, whinge whinge etc from me re unimpressed with what has been done / nothing special.

That said, the substantial holder notice released on 6 December 2-23 re Jack Yetiv is interesting - https://hotcopper.com.au/documentembed?id=uOMxKKzFkiWRTLKhOROKAxjvTDYL4ga5yBPwv%2FVt7bFiGug%3D. $2.3m into a company is a significant investment, especially into a micro cap stock.

A bit of digging suggets that it is Dr Jack Yetiv

1. He is from Texas, USA.
2. He was a doctor, is a lawyer, owns apartment complexes.
3. Has (at least) $40m USD invested in overseas companies that I can locate.
4. https://seekingalpha.com/author/jack-yetiv (noting that he has a focus on clean energy, oil and gas, and lithium...)
5. He has recently invested in Parkway Corporate Limited PWN.ASX (circa $2.3m) - https://www.marketindex.com.au/asx/pwn/announcements/change-in-substantial-holding-6A1178446
6. His investment in BTR to date is circa $2.3m
7. PWN actually has a great thread on him and why he invested in PWN - https://hotcopper.com.au/threads/ann-becoming-a-substantial-holder.7569365/#post-69742485
8. In particular this post from PWN, which is apparently a screenshot of Jack answering an investor why he invseted in PWN, highlighting this line, which is very similar to BTR's current position "this is an early-stage company that actually has revenues, so it seems downside risk is small while upside potential is great" https://hotcopper.com.au/posts/69788645/single

Regardless of my thoughts on what management have achieved etc. There is a very wealthy and intelligent investor who sees something of interest in BTR. Nice (and interesting) to see.

Note: My buy sentiment is based on Jack's investment, company tenements and its current position, which togehter overcome my current distaste / unimpressed sentiment for management.