General Discussions, page-232

Yabba Dabba Doo Fred .
The Maiden Resource is going to be key.

Enclosed is a rock stock channel excerpt from the 21/3/2023..

Matt Fernley sayshe has never seen intercepts like Partiot ( PMT) in all his experience tells the story at8.20 minutes in this “Hard rock valuation” video from 21/3/2023 …

https://youtu.be/rRky3BLhx0E

“the situation witha stock like Partriot which has been releasing results of such high grade , Inthe period of the last 6-7 years of my looking at lithium exploeers have neverseen that grade before . Obviously the market is struggling with how to valuethat stock. The Markets doesn’t know what the maiden resource is going be ( Macklemorebabble Due June 2023 and purposely left hanging because PMT/PMET will be atakeover target once a JORC 2012 Maiden resource of 50 MT @ 1.3% to 1.5%is released for CV5 and CV 13) . Market is looking at the Size , quality anddepth of intercepts and applying a view as to the quality of the deposit. Wedon’t know if the Market’s view is right until we see what the Maiden resourceis going to be and get an Idea of the what the total resource is going tobe .In some companies on the ASX they will release an exploration target.i.ewhat management thinking the resourse size is . This is less prevalent inNorth America ( Macklemore babble Total resource for CV5 and Cv13could be around 200 MT at 1.2% unlikely to be supplied until June 2024 ..there is over $80 m CAD of drilling to be done to get that number )..

Howard Klien “Whendoes and Explorer transition to Developer”

Matt Fernley “Whenthe news flow dries up ..Explorers overshoot with information “.. Developersare looking at Pre-feasibility and definitive feasibility and scoping studiesto work out how much capex and Opex are due. When we get to a $ 400m or$500 m more time is needed to be precise with how money is being spent.

( Macklemore babble I would add that ALb had a 68 percent takeover premium for LTR ..18 months from name plate ( i.e 1.51LTR to 2.50).
Bell potter valued PLS with its announcement 50% expansion today of name plate at 46 per cents ( i.e $3.88 to $5.65) .
A Canadian asset ( PMT corvette's ) that gets to permit and is around the top 3 in Size and quality world wide should have a Takeover premium between 50% to 70%.

The Suitor could easily be a a rebuffed ALB from failed LTR T/O or a TSLA , BHP or RIO wanting a quality Left field entry this year below 2 Billion $US for a production PMT run in 2027-28

All my opinions only not investment advice.