General Discussion, page-1265

I'm never really far away mate but thanks for your kind welcome.

You're right though , if you count Crawford over at Sayona , at least 1 of the current 1MC Directors being O'neil was a founding Director of Orocobre back in the day with Brown and Buckler both coming through the pedigree mining lineage of New Hope .

So there are definitely some seasoned ' Production ' driven mining campaigners here for sure. Just need to be a little more assertive with the seeking out of projects ....like everyone else is doing. And which I think they will .....and are doing right now.

Perhaps for some , they appear just a little ' Gun Shy ' now , but it's like anything else really - when you fall down , you dust yourself off and get yourself back up and about.

And in this game it's about reading the room and getting on the front foot before others do. But they are definitely proven company builders.

They also seem to have established the Industry Contacts as well , with respect to Lithium Corporations and LRC's lithium royalties grab bag of world wide project streams. Brown is also a Director of Lithium Corporation from what I understand.

And you have to wonder about several former AJM heads including Cheesman and a few others who came from AJM and who have gone off to ' other ' more greener ' Hard Rock ' pastures in Ontario and Quebec .....and who will no doubt cross paths again at some stage in the not too distant future. Even Brinsden from PLS has left and is now heading up the illustrious Patriot Battery Metals.

And if you let your investor mind wonder just a little , you can't help but contemplate with say the likes of CRR who has a very similar market cap to that of 1MC ......., that how much of this ' Executive ' move ends up being ultimately by design when looking back at them in hindsight.

I mean that whole exit of Alex Biggs from CRR with the incoming Cheesman looked very abrupt and almost ' staged ' at the time.

So it ends up being very interesting when you start to navigate the chess pieces of the ' whos who ' of BOTH the people and projects in the lithium mining space , and then overlay all of this across what appears to be the ' choicest ' and out of the blue lithium hard rock asset tenement claim land grabs we've ever witnessed in the industry. And that's just in North America in Ontario , Quebec , and even in Manitoba at the moment.

So will Altura be part of it at some stage with the support of BIG Sister Sayona.

That remains the BIGGEST question for me with respects to what they are ultimately trying to do.

And there are plenty who would be in play at the moment. And if you want to go BIG , Vision Lithium comes to mind first with privately held Narrow River Resources being another that comes on the radar in the Pontiac / Cadillac region of Quebec's Southern Abitibi. Vision also has the once held and Drilled , and then optioned Sirmac deposit west of BOTH Winsome's Sirmac-Clappier and Sayona's Moblan / Lac Albert HUGE claims.

If it's ' Clay and Brine ' which they seem to have built themselves around , ( Apart from Aussie Hard Rock with Sayona Pilbara venture ) , up until last week , I did like the current surrounding corporate posturings around Lithium Chile Inc's Chinese partner Chengze Lithium and its 19.35% stake it acquired in Lithium Chile last year for circa C$27.9 million which which now has been scooped up for a 30% premium to its recent traded share price by Gator Capital out of Toronto. For those who may not be familiar , it ( Lithium Chile ) had been ordered to divest this Chinese held stake by the Canadian Government and its Investment Canada Act on the grounds of National Security guidelines and ' Net Benefit ' rules around critical elements.

Another one though in that Brazil / Argentinian brine space would be the well positioned and relatively cheap Edison Lithium Corp as my SECOND South American lithium pick. You could pick them up Holus-Bolus for C$5.84 million as of yesterday's closing price of C$5.5 cents per share.

But of course I do like the ' Contested ' further availability for a further cornerstone interest in Midwest Lithium as discussed in my previous post ifor their South Dakota Black Hills Hard Rock project. However I reckon there is also some potential for Corporate deal making in MTL's ( Mantle Minerals ) , formerly Caeneus Minerals ( CAD ) who as far as I know still hold their 52 square kilometers of claims on the Columbus and Rhodes Marsh LS which apparently are owned by Arizona Lithium ON BEHALF of MTL. Hmmm ...wonder how that works as I can't find that referenced anywhere in Arizona's or Hawkstones previous titles and tenements from any of its financials or Annual Reports.

Caeneus AR Note 2: Arizona Lithium Co owns the Rhodes Marsh placer claims on behalf of Caeneus Minerals Limited.

And as everyone already knows , Clayton Valley sedimentary basin inNevada, USA hosts the world class Silver Peak Lithium brine deposit owned byAlbemarle Corporation. ( refer below Maps of these MTL - fromer CAD claims )

So I like how this other lithium tenements package potentially brings back the larger AZL into the frame of contestability and perhaps struggles for ' dominance ' through acquisition.

What's interesting also is that they ( Caeneus Minerals - now MTL ) had engaged Dahrouge Geological Consulting to explore its corporate options on these claims in regards to the highly prospective lithium potential.

So what I like about this reference to Dahrouge is that when you ' Flip ' the conversation back to the prospective Canadian Hardrockers , you come up with the under the radar Spod Lithium Corp who I really like the look of , and which despite being presently valued at market cap of ONLY C$7.823 million ( A$8.5 million ) .

So Dahrouge Geological Consultants had been engaged in preparing a report into the initial exploration program of Spod Lithium in regards their MegaLi Property for the values in its Lithium - Cesium - Tantalum , and Rubidium claims blocks which are IMMEDIATELY ADJACENT ( North and South ) of Patriot Battery Metals new Corvette discovery.

So you can see by the attached Map of their nearology to Patriot below :-

On top of ALL of that outstanding nearology to the Corvette prospect above , Spod Lithium Corp also has the other outstanding prospects of their North Nipigon Li Property which is comprised of 403 minerals claims over 3 blocks totalling 8,475 hectares which shares borders with not only Rock Tech's Georgia Lake project , but Imagine Lithium's ' Jackpot ' lithium project as well as Ultra Lithium's Georgia Lake project. ( Refer below Maps )

And Rocktech Lithium is a great example of what potential you can more or less derive from a relatively small JORC resource when you have ' Grander ' plans and key off-takes underpinning your development.

And so at C$255.72 million ( A$277.95 million ) , you can see the potentially extreme discount which Spod Lithium is presently being overlooked at. And therein lies the ' Opportunity ' for someone like 1MC who has got the Management experience in hard rock to grab the bull by the horns and make a play here.

Heck even Ultra Lithium Inc is only valued at C$15.28 million ( A$16.60 million ) with Imagine Lithium coming in at C$26.64 million ( A$28.96 million ) , so you can see the various levels of ' Valuation ' variance between various players.

However they are ALL in the mix if Morella was to link up with their script as currency for any deal moving forward.

But at A$8.5 million only , for mine , it would definitely be Spod Lithium Corp out of ALL the potential opportunities .

There is also X-terra Resources Inc which is another reasonable play at only C$12.73 million , but I'll leave that one for another conversation. Even Vision Lithium Inc at roughly A$40 million is also doable given Morella's comparative valuation.

And you could literally go with these sorts of comparisons and options ALL DAY long , however the main point here is that there absolutely HEAPS of remaining ' Company Maker ' acquisitions which Morella could look at in this very fast emerging lithium jurisdiction of Ontario & Quebec.

So I guess Morella is just taking its time in figuring out what is out there in the valuation range it would be expected to cough up. Lets hope this is the reason , and that its not just ALL passing it by without it really knowing how to build another Company based around prospectivity and nearology.

I mean even Brinsden has recently stated how he feels like ' Dejavu ' in regards to the similarities of his newly expanded Corvette prospect to that of Pilbara and the sheer size of the crossover claims of Altura Pilbara project.

So if you're Brown and Buckler , wouldn't grabbing a piece of Spod Lithium just over the fence to the North and South of Corvette would almost be like ' Paybacks ' potentially a beotch type corporate play. Stir the pot a bit I guess. And if it gets the job done and attracts interest at whatever level , who cares how you get there right.

I'll leave it there for everyone to digest and contemplate whatever responses they would like to add from all this. Good luck with your Investing.