Larins Lane Update:@GT55

Went back over my notes just to confirm what I believed was the plan for Larins Lane, noting that the drill campaign was initiated at a greater depth than first presumed.
The company won't be pulling any holes as that would detract from the structure of the drilling plan so efforts will be made to manage the budget however they can.
4m composite assays v 3m being one way of squeezing a few bucks & driller's looking at a % of script instead of cash another..

I personally like the idea of any driller who's prepared to take script over cash for obvious reasons so more than happy if that's the case.

XRF analysis being another way to qualify/quantify which holes get the full assay sweep noting it's a polymetallic zone with potential Gallium & Germanium in the upper clays not wanting to be wasted or just cast aside for the sake of saving a buck here and there.

The other interesting angle which was discussed was Monza. Namely do they spend the money plug 5 holes into it with a spare rig that's available to test the mineralization previously encountered to see if the width thickens or with the same cash do they throw 40 - 50 air core holes in the tenement in the Pilbara?

The general consensus was that the other entity who owns ground next to Monza wasn't gaining a lot of purchase despite having a resource, but companies like WC8 were raising $100m to go drilling for lithium.

The fact they were able to raise that amount speaks to the focus that is on the area and TMX want a part of that.. There's a potential geological model in what has been reviewed so far with possibly 3 potential structures supporting a potential play.

Not exactly conventional but with other geological models in existence (Industrial Minerals & another company were referenced) along with the theory of a pegmatite quartz blowout type system that hosts the lithium. You need a granite source, Greenstone and the distance to the granite source to be in play for it to host the req high grade lithium and that is the potential of what the model is possibly showing at this albeit early stage..

So the thought of throwing a couple of holes across some interesting targets is driving the want to hurry up and drill asap. It was hoped that they could be on the ground drilling in the first or by second qtr 2024 which would indicate that all obstacles will be removed by then pending any unforeseen event.

Larins Lane will be wrapped up by Christmas according to my notes and whilst you'd love to see an assay before Santa comes we might assume that it'll be 2024 before the first drops perhaps? Still that's not bad considering what started out as a shallower campaign effectively tripled in depth and volume of effort.

Be nice to be mulling over assays at Larins whilst testing the Pilbara for blowout quartz type lithium pegmatite structures now wouldn't it?

I mean there has to be a reason why WC8 raised as much as they did don't we think?

With the fact that TMX, a microcap, is sitting on a tenement in a hot area of current exploration not going completely unnoticed according to the last of my notes..

Who knows, it's a punt sure.. But I'm in and will wait for the Flop before deciding to fold or raise again.

4's a gift IMO if you can get em?

gltah h8tey

Pilbara CEO: It's a Good Time to Be in Lithium

Dale Henderson, the CEO of Pilbara Minerals, talks to Alan Kohler about the company's lithium fortunes and how it went from begging China clients to buy spodumene concentrate to batting away a queue of buyers at the door. Dec 2022

Dale Henderson is the managing director and CEO of Pilbara Minerals, one of the lithium miners that’s producing spodumene concentrate out of the Pilbara, obviously and it’s a two-year/10-bagger, this stock, it was 40 cents not that long ago and now it’s well over $4, $4.56 as we speak. It did get over $5 but now it’s just come back a bit, so yeah, it’s been a fantastic ride for the investors who have been in there and the question is, is it still a buy? Well, get to the end of this interview and I think it probably is, because right at the end we get to the point where they’re going to be producing a million tonnes of this stuff in a couple of years’ time.

They’re currently producing 580,000, a run rate of 580,000 tonnes a year, average price around about $5,000 a ton and their cost at the moment is $700 a ton and he reckons it’ll come down. So, this company will be making $4 billion a year profit in a couple of years’ time and the current market cap is $13.7 billion. So, you know, it is expensive, obviously, on current profits. Although, the earnings per share currently 20 cents, so the PE is 24 – it’s not a hugely challenging PE, to be honest, and they’re ramping up production, price is strong, very interesting business.

Dale says – I don’t know as much, obviously, as I should about this stuff – but he reckons Pilbara is one of the very few global players in the lithium market. So, here he is, Dale Henderson, managing director and CEO of Pilbara Minerals.