ZNC

6.25%

5.1¢ zenith minerals limited

Ann: Yilmia Lithium - Drilling Commenced, page-6

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naive lamb

152 Posts.

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23/10/23

20:06

Post #: 70492726
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Originally posted by Feeenix73: ↑

no surprise, they sold develin creek they got some cash
split rocks and waratah well still fall under the JV terms and conditions
until one of the divorcees notifies the other in black and white the JV still stand
so the next logical thing to do is start work yilmia or Hayes hill
this announcement is not so clear no deadlines not schedule
with the AGM coming up soon, the management will be worried of being questioned
about what they have been doing.....? with peoples money

the things that shocked me:

1- ZNC Is a pure lithium play now:
make me feel WTF!!!! all the money been spent on Gold and Copper assets rare earth nickel zinc etc
then suddenly DL says we are a lithium company and there will be no float of mackerel
he reset this business and make us go back to square one
now someone will say that is simplifying the business focus on one and only commodity
but not everyone is here for lithium only

2- he mentioned a special thanks for Mick Clifford and that he spoke with him every single day
that tells me how incompetent he is , whatever job he is doing, he needs info to manage himself and the talks that he hold.
he is a relay station between parties and he knows ZERO things about exploration.
mind you he was not even competent at Mackerel float. that was the area of expertise.
and obviously he threw a spanner in the works.

frustrating but trying be patient
i hope this company doesn't turn into a lifestyle business where management live luxury life with peoples money
drill , results, raise , burn cash raise again rinse wash

my thoughts
not a financial advice

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I do not understand why they have not just gone out and continued the work. EV Metals are in a position where they cannot complete a DFS in the time frame and quite frankly have been in that position for most or all of this year. Why does Zenith just go ahead and drill itself - the project is coming back to them anyway. They are sitting still (ie going backwards) in the middle of the greatest lithium bull market we will ever see.

ZNC Price at posting: 9.6¢ Sentiment: Hold Disclosure: Held
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Ann: Yilmia Lithium - Drilling Commenced, page-6

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Ann: Yilmia Lithium - Drilling Commenced, page-6

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