Lithium findings
GXY deposit open pit JORC 15.8Mts at 1.08% Li + 0.016% Ta
The company is very advanced has good Chinese backing the deposit is open pit so cheaper to mine probably and the Ta credits will help with the economics
Company is roughly valued at $300m
RDR deposit open pit JORC 10.5Mts at 1.4% Li
Company is at a medium stage of exploration good track record of management a broker report values the deposit at around $150m
ECM deposit is a previous Govt UNDERGROUND operation JORC 18Mt's at 1.6% Li with additional scope for another 8-12Mt's at 1.5%-2%Li
Deposit is higher grade than the other 2 and also larger but underground
The data is very old but it is Govt data not some small shoddy company so I think this adds some more cred to the data
Based on GXY and RDR a deposit of this nature could be worth anywhere between $150m-$300m but it really is hard to place a value on it at its current stage for 2 reasons
firstly its underground secondly the data does need validation
In the end the deposit could be worth $0 or it could be worth $150m or 0c or 50c a share (based on 300M shares fully diluted post placement and options exercised)
Sorry for the long winded post
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