Is BSM sitting on gold?, page-3

Thanks - a lot of information about Madagascar's geology and culture - worth reading for longer term punters.

"Sitting on gold?" - maybe, but we are sitting on a couple of resources maybe better than gold - graphite and lithium.

We have a pretty good idea of our excellent reserves of graphite in several locations - some new to be developed over the next couple of years - but there hasn't been much discussion about the 'white gold' to be mapped and drilled over the next six months. Our lithium prospects could be worth  much more than our graphite - yet the market values them at zilch.

Have a look at the excitement (justified or not) with AVZ Minerals' find in the DRC central Africa, more than a thousand kilometres from any port and with difficult logistics. The best of several drill holes over an extensive area show a couple of hundred metres of 1.5% Li2O.  As a result, their market cap has risen from $50 million to $200 million over only the last two months.

PLS, AJM and KDR, all in the Pilbara, have caps of over $200 mill to $600 mill and are in various stages of commercialisation. Ore grades are 1-1.5%.  But none of these lithium finds had announced chip samples of anywhere near Bass' 5-7% Li2O.  PLS, for example, recorded 60% of 500 samples at less than 1.5%.

Our chip samples match those of work done many years earlier, as announced on 19th April, and are extraordinarily high. Moreover, our prospects, yet to be proven by drilling, lie over up to 10 kms by 5 kms wide, and are in near horizontal pegmatites of up to several hundred metres long. (As an example, if one of those pegmatites was 50 m wide, 50 m deep and 200 m long, its weight would be well over 1 million tonnes!!)

How much will our market cap increase in six or nine months if drill results show grades of, say,  only 2% on average from surface to 50 m deep, but nearly double the grades of major prospects elsewhere?

Doc F, I agree with your thoughts that we must be building excellent relations with relevant organisations and government in Madagascar, and this counts. Delighted to see that our CEO, Tim McManus, will be presenting at the Africa DownUnder mining conference early next month. Immediately preceding his talk will be the Chief of Staff of the Mining Registry Office of Madagascar. Nice

work! https://www.africadownunderconference.com/conference-programme/