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readyaimfire

11,046 Posts.

1483

04/08/21

11:12

Post #: 55017866
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Originally posted by w27 ↑

What people here have to realise is that mineral exploration is an expensive business. Lithium is red hot now and we want to make the most of it before the inevitable explosion in supply. This takes a much more intensive effort to expand the resource to a viable number. Then we have the expensive business of metallurgy and feasibility before we are in a position to proceed to production where we see the large advance in market cap. If we want all that to happen to catch the present price wave we have to spend big now and not be waiting for results before we commit further expenditure. Remember that all the relevant resources are in high demand and have to be booked early so we can get in the queue. No one will take us seriously unless we have the funds to pay. Expect a road a bit rocky for the next few months. We cannot expect an immediate bonanza.

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If they hadn't squandered funds on worthless gold projects ..............

ESS Price at posting: 13.8¢ Sentiment: None Disclosure: Held
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