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As a large holder in BM8 , this in the current market really...

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stevenrushbrook

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13/08/24

20:38

Post #: 75191900
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Originally posted by WhatsTheTip: ↑

BM8 announced what appears to be good mineralisation, near-surface pegmatites at Falcon. This is IMO good news for GT1.

As per this older map, GT1 has its Seymour project to the west and over to the east GT1 is looking to start drilling its Junior Lake Project (Despard, Tape Lake, Swole Lake and a couple of other prospects).
From this BM8 map you can see the way BM8's tenement fits against GT1's on the left hand side of the blue tenement through to above the "d" in Despard. Falcon Main is north of Despard. If BM8 is finding good deposits in the Greenstone area of Falcoln main, GT1's Tape Lake is that same Greenstone belt to the east. Despard is that same greenstone belt to the South.

GT1 has recently mentioned Tape Lake and this satellite picture shows Tape Lake on the right and BM8's drilling on the far left. I suspect the area in the middle is forestry clearing but you can't really tell from satellite pictures.

The second favourable attribute from BM8 potentially finding a deposit they may be able to develop into a JORC resource is that it would add to the defined deposits in the area. GT1 could for example do a DSO purchase deal with BM8 which would increase the supply GT1 has to put through a seymour concentrator improving its economics.

BM8's Falcon drilling:

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As a large holder in BM8 , this in the current market really means nothing . This would be great if lithium didn’t crash . Spot price now USD 560, which means nothing is profitable . ALB lost 188 million last quarter . Really wondering how much longer spot price can fall. Just crazy to me where we are .

GT1 Price at posting: 6.1¢ Sentiment: Buy Disclosure: Not Held
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As a large holder in BM8 , this in the current market really...

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As a large holder in BM8 , this in the current market really...

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