Banter and general comments, page-706

g’day mate. Still here. Still holding. Bought another small parcel yesterday during the dip down to 28c.

Like many, I also have some reservations about this CR and the use of the funds. It feels like finance has always been our last and largest hurdle. So to raise half of the money needed to get the project off the ground, and to then spend it on something else... I’m not sure how I feel about this. The optimist in me sides with $man’s latest post: perhaps management have finance sorted, thus the freedom to raise money like this and spend it big on exploration, LiOH studies etc. The pessimist in me sides with Tacair’s latest post: it could be that more drilling is needed in order for a more compelling DFS. If so, I guess one positive is that they have the cash to do some serious exploration. Since the last update I’ve thought that Carltons needed about $2 million - $3 million in diamond drilling in order for enough resource to get converted into higher confidence category to get it a pretty good NPV. With $40mil in the bank they can certainly do this. The negative to the more drilling needed scenario is as Tacair says, it may push timelines out a little bit.

Perhaps a project update announcement is needed soon, but in the meantime, those grants assays and RAB drilling results must be just around the corner.

IMO

GLTAH