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6.5¢ arcadia minerals limited

Drilling The Brines?, page-2

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sydneysider

4,747 Posts.

1005

17/10/23

23:20

Post #: 70394984
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Originally posted by MichaelSA: ↑

As per AM7 announcement 17/5/2023 "Targeted specialist sonic drilling operations expected to commence
as soon as possible or before end of August 2023 to test the average Lithium grade of the brines to depth" and followed up with their capital raising announcement on 3/8/2023 - "Funds will allow the Company to Undertake drilling at the Bitterwasser lithium brine project".

What the hell is going on? I suspect they have raised just enough to keep the lights on and perhaps maintain small scale auger drilling on the Lithium clays? To explore Bitterwasser Brines aggressively which is what is required is likely to cost millions imho. It appears it is going to be a very long time before they are in a position to get serious with this project which is disappointing given what they alluded in the above announcements.

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drilling of the brines and clays to start in late November.

AM7 Price at posting: 10.0¢ Sentiment: Buy Disclosure: Held
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Last 6.5¢		Change -0.008(11.0%)		Mkt cap ! $7.088M

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