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1.3¢ forrestania resources limited

IPO - Forrestania Resources Limited - 23 September 2021 1:00PM AEST ##, page-31

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cobrakai1984

6,162 Posts.

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14/09/21

14:54

Post #: 56054022
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Originally posted by Ammbush97: ↑

I think it's oversubscribed by a mile, judging from the surrounding sentiment & macro sentiment of Li - Ni - Au exposure.

Coming online for a 10mil mcap with 5mil cash, pretty tight registry by the sounds - I'm sure it'll grasp some attention.

Pretty cheap deal for those assets too.

Lady Lila looks quite impressive, being completely open.

Along with the Li potential @ Gemcutter.
" Marindi’s maiden RC drilling program, targeting lithium mineralisation, intersected 106m ofpegmatite in GPRC06, which was host to significant spodumene and petalite mineralisationwith 33m grading 3.2% Li2O from 69m, including 13m grading 4% Li2O from 81m.A scissor drill hole was drilled and intersected 8m grading 1.2% Li2O, including 4m @ 2.1%Li2O. Pegmatites are observed in two dominant orientations in the FGB:1. north-west striking bodies, with a dip of 60 degrees to sub vertical to the southwest;and2. north-south striking bodies, with a shallow dip to the east.

Firefly concluded that the full extent of pegmatite mineralisation at Gemcutter had not beentested, but to date no further drilling has been completed."

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its an explorer still. a couple of li drill hits(not sure if it was cut properly - 3% grade not believable) dont make a resource.

Kidman was located next door, grade was 1.5% average.

Last edited by cobrakai1984: 14/09/21

FRS Price at posting: 82.0¢ Sentiment: None Disclosure: Not Held
2 Upvote

0 Great analysis

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