Hi all Lots of commentary over the weekend from both holders and non-holders along the lines from being early days and the time required for the drilling team to build up an accurate position to the other end of the spectrum that it's a duster and everyone needs to walk away The thread has become more and more emotive and pretty hostile between parties which creates a lot of noise making it hard to discern what's genuine or helpful So with that in mind and to offer an impartial position [and hopefully to assist newer investors understand general drilling timeframes and basic interpretation of results], I hope the following very basic and general summary from my take of Latin Resources is helpful [I use LRS as a good template and one that I followed for a long time - noting it's easier to be impartial when you're not overweight - takes a lot of emotion out of the decision making process]
Summary of some early Latin Resources announcements 16 02 2022 - high-grade results including 2.71% Li and 1.45% from spodumene bearing pegmatites over 1.2km strike length - plans to drill 14 holes for a total of 2,000m 03 02 2022 - 3 holes complete - all three intersecting multiple sodumene bearing pegmatites confirming strike and dip continuity - drilling 180m along strikes intersected 16.17m true thickness spodumene bearing pegmatites 16 03 2022 - 6 holes covering 500m of strike all intersecting multiple spodumene bearing pegmatites - cumulative peg intersections of up to 36.1m true thickness in one hole with individual pegs up to 21.1m true thickness 30 03 2022 - peak individual grade of 3.22% - includes 4.31m @2.22% from 83.2m / 1.13m @2.85% from 87.0m 1.0m @ 3.22% from 112.3m [plus others per ann] 07 09 2022 - 100 holes total approx 8,451m - latest assays 26.88m @ 1.40% from 94m / 28.8m @ 1.16% from 307m / 10.0m @ 1.05% from 186m
The above is just a summary of some of the announcements which were regular and consistently positive - price moved from approx range 3.9c in Feb 2022 to a high of 20.0c in April 2022 and then fell back into the 7's before peaking to 40c ish in Jul 2023 - of note was after the price dropped back into the 7's it only got back up to about 12c after the Sep 2022 announcements
Key takeaway is drilling and reporting takes time - this is a 7mth window with nothing but positive news reinforced on a regular basis and the price took a long time to bolt - patience required
[for disclosure - I still hold but have reduced significantly in recent weeks - won't add further to my position until results are more definitive]
GLAH
RDN Price at posting:
1.4¢ Sentiment: Hold Disclosure: Held
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