I do think there is ongoing work being done behind the scenes...

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malibu_tan

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27/08/23

16:35

Post #: 69572225
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Originally posted by WhatsTheTip: ↑

On the list below, GT1 is approaching mid-game, particularly if one or two more key items flip into the completed category:

Some of the steps to production are below:
Raise initial capital ✔
Acquire tenements (possibly with known drilling results) ✔
Surface sampling to identify targets ✔
Gain a better understanding of the ground geology eg aerial magnetics ✔
Drill targets and hopefully hit mineralised pegmatites ✔
Drill more to get some idea of the broad size ✔
Typically raise more capital to drill more extensively ✔
Drill/investigate so as to define a JORC resource ✔
Undertake Met test work to establish concentration methods that work and potential recoveries ✔
Work with potential buyers so as to agree an offtake ✔
Complete all investigations necessary so as to submit permit applications (which may have multiple phases) ✔
Have a resource including significant Measured and Indicated at Seymour ✔
Identify proposed locations for processing plant ✔
Undertake sterilisation drilling to confirm plant locations aren't over a new ore body ✔(?)
Undertake high level work to confirm economics (not necessarily published, may involve assuming mining inferred) ✔

Key steps remaining for GT1:
Reach agreement with first nations around mining (rather than just exploration drilling)
Confirm the plant configuration for mining the resource including any initial/later phases
Define either a large JORC or a JORC resource that is close to as large as the resource will enable
Re Root, drill some more so as to have most resource at indicated and at least the first few years at Measured
Formal studies around developing the resource (Scoping, Feasibility)
Convert exploration permits into a Mining Licence
Receive permits to construct a mine / build concentration plant
Agree offtakes for a large proportion of planned early output
Secure sufficient finance to develop the resource
Make a final investment decision (FID)
Construct enabling access to logistics (eg if available grid power, water, roads main roads/rail networks)
Order long lead time items
Build facilities to support digging / processing ore including tailings management
Dig and extract ore
Build or arrange for someone to build a crushing plant
Build a concentration plant
Successfully commission the mine

Phases may not occur in this order. GT1 has a few more steps that are fully within its control but soon its the big 3 that involve others: Permits, Offtakes and Finance.

Expand

I do think there is ongoing work being done behind the scenes here about some of the latter bullet points . GT1 announced in April that they had secured a site for a Lithium Conversion Facility in Thunder Bay and they will have been doing DD in the interim. We haven't had an update about it since then (or I could have missed it) so it has either progressed or they've decided not to progress.

I was remembering the SP run that occurred after the last investor site visit, was that coincidence or did they like what they saw?
Last edited by malibu_tan: 27/08/23

GT1 Price at posting: 52.5¢ Sentiment: Buy Disclosure: Held
3 Upvote

1 Great analysis

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I do think there is ongoing work being done behind the scenes...

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I do think there is ongoing work being done behind the scenes...

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