Wenty gets the award for picking the early environmental...

Wenty gets the award for picking the early environmental approval!

Great announcement today folks, environmental approval was my last key risk and I'm really happy to see it mitigated. Don't sweat too much that the market didn't take much notice, this is still a small cap, and it is entirely possible that most didn't even notice. I would expect interest to gradually increase over the next few days, and then more significantly with further announcements. I have been listening to some podcasts on the long drive to work, and it has amazed me how many institutional/fund investors don't even look at companies under 100m market cap, and once we cross that, we will be in a different league regarding who is looking at us. Whilst 100m is still a bit of a way off, I don't see much impediment now to a gradual sustained growth in the SP - 'sustained' is the key word here, we will work our way out of the post explorer, pre-developer stage and firmly into the development stage and should get a good base in - not sure at what level, but I am looking for 10c initially.

We are in the box seat in my view. I was reading an article on the weekend that highlighted the settling price in lithium globally and mentioned that some large companies will cease to be profitable should the price drop below 500/tonne - we will still well and truely be profitable at this number and highlights what a great operation we have. Whilst I do not want to see the price drop (and don't see it getting that low), it is great security that when the market gets quite competitive, CXO will be able to outlast nearly all in the market!

I am looking forward to the increase in resource base and have fully participated in the SPP (did that last Friday, I certainly wasn't waiting for todays announcement), I did really like that management closed the book the day prior to the announcement to reward current holders (that's my view anyway), and so I figured I would go the full amount to not only assist the company but to increase my holdings at the same time.

I must give management some kudos here as well, they have been approaching the companies operations in a methodical manner for a long time now, and are gradually ticking off all the right boxes. I am been a little sceptical at times with the limited information flow, but I cannot fault their actual progress. Well done to the team.

I've had my sentiment at hold for a while now and thats what I have been doing, but as of last Friday (and especially after today) its back to a BUY.