MTC 2.13% 23.0¢ metalstech limited

Ann: MetalsTech Secures $18M Deal for Lithium Assets, page-35

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    As I recall, they estimated a resource size of 15-25Mt LiO2 which presumably could expand with further drilling. The beauty of it is the grade and shallow depth. Once proven up and expanded you'd have to figure a MC for Winsome of at least $100M. Look at CXO's MC of $270M for what is realistically no more than about 6-7Mt over two sites at present, with a very high strip ratio. Sure, they're far more advanced on all fronts but WR1's project could become far more attractive in time. With EVs set to ramp up worldwide I can easily imagine WR1 being a 5-bagger within two years of listing. Let's just hope it goes ahead as outlined in the announcement.
 
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