IF you look at LTR, CXO (disclaimer I hold both), if they release good results including sample size, dispersion and grades the timing is really good, the Li market is rising fast, check Spod prices - $930 and rising.
A $100m MC is very very realistic by Christmas this year. If they get another 10-15MT @ over 1.2% grades then $150m MC is possible, might/would need another cap rise to expand and undertake infill drilling to firm up resource.
If they can spend the next 12 months exporting, drilling, samples, to provide resource size then undertake scoping study then maybe a TO is possible as by end of 2022 the market could be in frenzy for projects that have proven resources plus great location, great neighbours.
Crazier things have happened. To be honest I am hoping that they get to end of 2022 with a TO of $350m which is not that far fetched IF its stacks up.
Still a LOT of risk here.
ESS Price at posting:
20.5¢ Sentiment: Hold Disclosure: Held
