Very good news. RC Drilling has started, diamond drill rig is...

Very good news.
RC Drilling has started, diamond drill rig is coming very soon.

I believe we will see a MRE very soon around the year end if not earlier.
It's not going to be much surprising to see a mcap around $1b then as any hard rock spodumene resource inside the US is going to very valuable. Also it's high grade and ores starts from the surface. Those things are very important for an economically viable cost effective mining.

The first MRE will not be reflecting the whole thing, but will be reflecting the potential at Black Hills projects of IR1. There are other projects which IR1 is currently working on like Edison Lithium Mine at Keystone area, then the others...

The the owners and investors of North American lithium projects which are located at the frozen land of of Quebec will see soon that it's not that hard to prove a resource but it's not so easy to bring an economically viable project to development stage. It will be all understood in next couple months.

The only producer is Sayona there now. They started production on March this year and produced 40kt so far they say. They made their first shipment on August 1st according to the anns on Aug.2nd. Only 20kt is shipped out, it's interesting that no grade and no price is given on the anns. Sold to spot market. No offtake agreement other than Piedmont which also own 25% of the project.

Sayona will give 30kt to Piedmont this month or next month. I don't know what Piedmont will do with that spod. Piedmont has a agreement with Tesla but I don't think that spod will go to Tesla. Very interesting, chaotic things may happen between all these firms. (See Tesla sent a notification to CXO that they might sue them). That is all very risky things and doesn't look good to me.