Thanks Rooks. Great viewing, seemed like a candid interview,...

Thanks Rooks. Great viewing, seemed like a candid interview, learning how they came across these projects and the rationale gives me a lot of comfort. Sean does not appear to be running a lifestyle company, is actively trying to make a discovery and at the same time trying to conserve cash.

LTR JV
You're right, he practically said OLY will keep 49% if the results are good, this way LTR can manage allowing OLY to keep a large share of the upside. Results of soil sampling across the 3 tenements should be known, but the million dollar question is why not released to market?

The way this has played out suggests to me OLY have an indication of the results, ie. "technically" have not been provided with results, so there is nothing to release to market. The results can go either way, but if it was dead ie. bad results, I doubt it would be delayed this long. Despite what is going on at LTR, 1st stage of the farm-in shouldn't take this long to execute as LTR has met the criteria. My gut tells me something else is being negotiated which is causing the delay... unless of course the results are rubbish and LTR agreed delay the publishing of the results (prob. not considered market sensitive for LTR).

LTR will likely have sorted out the SPP by months end (???) so soil sample results and JV next steps in December? When results are released, if good, imo the possibility of the SP skyrocketing is likely.

Cadillac
My key take-out was:
1. Find a lithium project which has proven lithium but is under-explored. Was not the cheapest acquisition considering there was work done by Vision.
2. In a great location infrastructure wise. 100km away from SYA.
3. Drilling can occur all year round.
4. All known results to date have been positive, up to 3.14% Li20 first pass drilling and 7%+ in phase 1 rock chip samples.

We are now waiting on

1. Assays from Phase 2 rock chip samples
2. Completion of phase 3 sampling should be soon?
3. Drilling permits
4. Define drill program
5. Drilling early next year

Just these two project alone is quite exciting. Of course there's risk, but IMO there is tremendous upside from a $8.5m MC from either one of these projects. The low SOI will definitely help with SP on any good news.

Learnt a bit more about Walloway so will post on that thread.

Cheers
SB