CXO 2.13% 9.2¢ core lithium ltd

There's an area called Lake Johnston off to the left of the...

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    There's an area called Lake Johnston off to the left of the Goldfields area. If you draw a line between Mt Marion and Mt Cattlin and then another from Mt Holland to Buldania, the Lake Johnston area is basically at the cross between these lines. Its a much smaller greenbelt area than the Forrestania belt that contains Mt Holland (SQM/Wesfarmers JV) or the Goldfields area with Mt Marion, Bald Hill, Buldania and Manna. Several companies are exploring there and one (not Charger) has had some drilling success for lithium but is still looking for drill results that would secure a much higher share price.

    Lake Johnston area is also where MinRes was looking to by an old Nickel flotation plant and convert it to a lithium processing hub before abandoning those plans.

    Charger has nothing to do with Earl Grey, its just a project used in describing where in WA lake Johnston is. CHR's lake Johnston project has a big lithium soils anomaly but that has previously been reported so redefining the size of it is unlikely to have shifted the price. What they did report today is a Niobium anomaly. It would appear they pushed the right buttons to get some investors excited. Within the context of WA1, Niobium has been a massive success story. At this stage CHR is at soils only and even then reaching grades of 21.4ppm Nb. CHR has presented the material showcasing other magnetic similarities to WA1's find. If CHR has a huge Nb deposit with strong grades, investors are getting it super cheap. If the soils relate to a low-grade or sub-commercial Nb deposit then some existing shareholders who sold today have achieved a better than expected exit price.

    In case you have forgotten, CHR was also the company trying to find an extension of Core's Blackbeard on its tenement.
    Last edited by WhatsTheTip: 22/05/24
 
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