There are many, many funds with massively deep pockets looking...

There are many, many funds with massively deep pockets looking to jump into viable battery mineral companies. When we have a JORC resource, we’ll tick a crucial box that will enable certain funds to acquire a stake in us.

For some of the larger funds, it’s contrary to thier investment strategy to invest in small cap companies like CLA until we get a confirmed resource and possibly a feasibility study.

I read recently that another ASX listed company had a sub-$200m MC and received a speeding ticket when they ran hard on massive volume to over the $200m mark. The only explanation the company provided was that they were currently speaking to large UK based funds who were prohibited from investing due to their MC being under $200m. The feeling was the fund or associates had been buying stock hand over fist to jack up the MC to over $200m so the fund could finally take a stake. Sounds plausible and ridiculous all at once but that was the official response.

My point is that when we tick the major boxes (JORC resource, feasibility with CAPEX, OPEX and production profiles) and we hit the minimum thresholds for large funds to dance with us, we’ll fly higher and harder than ever before. Just getting to that turning point will be a thrill but the result will be even better.

To me the biggest risk is an opportunistic TO offer from some industrial player or major miner. If they pounce soon, the offer will be very attractive but no where near the full value that we could realise in 12-24mths.