DEG 0.86% $1.16 de grey mining limited

Ann: Quarterly Cashflow Report - March 2018, page-12

  1. 2,237 Posts.
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    It's too early to tell. There's potential, and the soil sampling shows promise, but lithium content isn't purely enough. They also have to hit a spodumene deposit, which is a specific type of lithium-bearing pegmatite.

    They mentioned in the quarterly that there's spodumene there, as well as petalite and lepidolite.

    If they hit bulk spodumene and/or petalite, they will have a worthy asset to sell off. If there is contamination from lepidolite, it might still be worth someone buying, they'll just have to copy Galaxy's My Cattlin operation and accept lower recoveries than a PLS or KDR are expected to have.

    If they hit bulk lepidolite, then Lepidico (LPD), which I am heavily invested in, may be interested in farming in, but this probably wouldn't be as lucrative for DEG as hitting spodumene.

    So fingers crossed for many metres of nice, crisp spodumene.

    The diamond drilling planned for his quarter will reveal all. A geo sitting at the rig can identify large quantities of spodumene by sight.
 
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