Is it time for me to declare victory and then go away? I expected the Hualapai to contest the BLM approval of drilling and filling 131 holes, but we all knew that would only delay the plan, not quash it. Approval of exploration is not approval of mining. The Hualapai already accomplished a three-year delay at Big Sandy, while the lithium world has moved on. The Thacker Pass mine (Lithium Americas) again hit an all-time low share price today, because extracting lithium from clay is an idea whose time has come and gone.
Potential investors should thank the Hualapai for publicizing the futility of Big Sandy. Eighteen months, just to drill all those holes? One at a time? While Hualapai observers watch and can stop the process if water problems appear? And where is NTEC getting the water needed for drilling, anyway? For that matter, where did they rent the drilling rig? How soon does anyone expect to see photos of actual work?
And yes, there is an agreement between AZL and NTEC that the latter will work for the former. The terms are still not disclosed. I make agreements all the time to do work for others, but they agree to pay my out-of-pocket expenses. We have to wait for the next quarterly report, to see who pays for this lone rig and crew, slowly plugging away on the Arizona high desert.
Now we learn Brett Rabe has left for greener pastures. Does anyone actually show up for work at the Incredible Moving Tempe Palace of Lithium? As I recall, the rent there is US$50,000 a month, plus taxes and insurance. (Yes, the latest AZL announcement has once again moved it from southeast of the airport, to southwest. Never expect accuracy from this hype.)
So congratulations to the Hualapai on a job well done. Delay before the decision eliminated the need for delay after. See you again in another two or three years, if the company is still in business. That might happen with DLE. When lithium is as cheap as dirt, no one in 2026 will want to invest in digging it up and then refilling the hole.
And no, it’s not time for me to go away. How can one avoid watching a slow-motion train wreck?
Expand
(20min delay)