Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-17

Exactly. All you need is dry wood to make a fire.
And a lot of people who want to be warmed by that fire.

We have the right ingredients for the potential of a large multiple.
It is only us and PAT on the ASX who are looking in this BHDZ along from Frontier.

If this was in AUS, next to greenbushes, the nearology would be sending smoke signals.
Yet, we are discounted to oblivion, because firstly this neck of the moose pasture was overlooked from all those who initially followed PMT, and WR1 regionally, and secondly the sector has cooled to its abyss.

That gets us to the very pointy end, at being priced as a shell.
3m mc. When assets in hand have demonstrated fertility. How many multiples are there simply from floating back to the peer levels in a warmer cycle ?

As long as the company is prudent with capital management, and plans to stay the long course by conserving that cash, an upswing multiple bet is in play, on the sector thaw.

Drill based discovery of Frontier alike, PAK / SPARK can occur anytime later. We have demostrated the fertility of the BHDZ and that should be enough for money flow to back our path ahead, when the time is right.

When priced at a shell, with cash to survive this winter. What is the down side from holding ? What is the upside from the current price, to peers in a warming sector when it comes.?

I am like almost everyone else is in the red here. But only on paper. I ask myself the question, would i BUY at these prices, for a sector thaw bet ? if yes, then what is the multiple ? and if i already HOLD, then a YES answer, also means that SELL is out of the question. But thats just me. I am reluctant to capitulate, simply because the price is at rock bottom, when a hold through sector thaw, can not only redeem the paper losses, but a mineral discovery can set us to the moon. And there is also the wild card of doing what OM1 has. Acquiring a suite of fertile lithium assets, as well gold / Uranium exposure, and raising cash at that time with some very large carrots.

Not investment advice.