Same salar, adjacent property. NOA Lithium did 2 holes for 1000m...

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20/11/23

23:46

Post #: 71007757
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Originally posted by bottomfeeder1: ↑

Thanks for posting the article Squahman.

What I really want to understand is how much does it cost to drill (per the comment)

"The company plans to launch a maiden drilling campaign before the end of the year, consisting of four holes totaling 2500 metres. A pumping well will also be placed at 250 to 350 metres underground to test the porosity of the brines that lie below the salty crust."

all this drilling before the year end with the business holding $3.674m in cash at the end of September. Is that enough cash to do what they want?

From my perspective I am feeling comfortable with the fact that the business has some seasoned people running it. I suspect they are driving to get a good drilling result, generate some refined lithium with the new kit by early next year to drive the SP up and then go to the market for some more funds.

If this plays out I suggest that there is only upside from here for the SP unless there is a complete disaster with the drilling.

I am not familiar with exploration companies so am happy to here other peoples views.

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Same salar, adjacent property. NOA Lithium did 2 holes for 1000m for CAD$1.3M / AUD$1.45M to June 2023. Aiming to do 4 holes and 2000m for CAD$2.5M / AUD$2.78M as of September 2023.

Probably enough to get the drilling done, pump the results and CR for the follow up drilling engineering work. Or sell some projects in the meantime.

PUR Price at posting: 1.1¢ Sentiment: Buy Disclosure: Held
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0 Great analysis

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