Daily Discussion, page-6814

I'm starting to think people need to temper their expectations a little.
Don't get me wrong I'm absolutely frothing for this to climb high so I can buy a massive boat and float around Rotto on my days off and either way I think even buying now you will make a pretty penny but the reality is that we need to prove up the resource first. The hot hand fallacy is in play with a lot of these posts and it's human nature to want to fantasize about the positive rather than plan for the negative but it's probably giving new comers a bum steer on what the current reality is vs the planning on a speculative foundation. To compare to AZS is a stretch any way. We would have to have FAR better results than they have to match their MC. It is what it is they just have more ground. I'm definitely not an expert but I've been here since mid way through last year and have been keeping track the whole way. I'm also in the industry and have a pretty good understanding of how the on ground process works. Trading etc not so much.

A few (mostly) unbiased points on the Li branch below I've formed for people coming in out of the blue

- We've had feedback that there are no issues with the heritage survey and are waiting on the gov red tape to sign of. Could be any day now but don't be disheartened if it still takes another week or two. "The only thing that saves us from bureaucracy is it's inefficiency"

- last annual meeting (Feb I think?) we had confirmation drill plans were getting tidied up so once we get all boxes ticked by heritage etc, you can expect management to be pushing it through fairly fast. There shouldn't be major delays in getting drills on ground as they will be planning in this waiting period. You could probably expect at most a couple of weeks delay to getting rigs on the ground but who knows they may have one on standby.

- On the above, management are generally pretty good. People who have no concept of the slow lumbering nature of approvals in the mining industry will sh*t on them but the reality is we've had smart decisions being made, relevant or timely information releases and I think for the most part the LTH of HC have a fair bit of trust in them to get us across the line.

- We have nothing confirming large deposits besides speculative data (this is completely normal at this stage). There's lots of stars aligning which indicate we are onto something great which include sat imagery, great rock chips, visible surface pegs, and peripheral tenements indicating we should have a deposit here. I've also stood on ground that looks perfect and after setting a drill collar churns out nothing but waste. A theory isn't a fact until the data supports it. my current thoughts are 50% chance we have an absolute stonker that will see us as irresistible to the big whales and create a feeding frenzy driving us 30-40c +, 70% chance we have something that will still grab their attention but we may not see as aggressive a strategy to acquire maybe 15-20c after results, 20% chance we drill sweet FA in which case we need to lean on our other tenements to recoup something. again not an expert but ball park thoughts. either way still a good return and good odds.

With all that in mind I've set myself as Hold/Held purely because I think I have enough for myself, which if you can't already tell, is a perspective of a conservative investor. If I had no mortgage of mountains of spare cash I would probably be loading in more but for now I'm happy. I think it's still a good buy in point and if I didn't have any holdings I would be coming into it now. Take what you will from the above it's the perspective of someone who cares nothing for day trading and can't stand the mind games just talking from industry experience and a hopeful mindset.