1VG is also misleading shareholders stating it's ionic clay without performing a leach test with neutral pH.
I've double down on this statement by asking them publicly via their twitter account. No response thus far.
Same occurred with ASR comparing their results to a proven ionic clay. When i questioned that company and stated that i believe the deposit was a different lithology, the company redacted the statements in subsequent announcements. The same consultant being used on both companies.
Irrespective, 1vg results and most others are too thin and too deep to be viable and those results they got are in that category. It means the project is almost not viable before you even consider whether it's ionic or not.
Whilst i remain a little pessimistic on whether ITM can get a REO project stood up based on superior strip results it does appear to me that the best viability will likely be as a by-product of kaolin project whereby the processing methodology is already 1 step of the kaolin process. i.e. no extra cost to the kaolin extraction, and instead of it being pure tailings there might be 200-300T of REO coming out of it.
But you're right companies have 20-50m MC's based on drill results for REO which are worse than ITM.
ITM have proven widespread geology and have resource estimate which means they have the size. They've actually done met testing to show it's ionic - albeit not hugely. My hope is that in this secondary met work that's occurring there's more favourable results. As per announcements they are sampling laterally and across the body of the REO. Meaning that if there is an area or a particular lense within the clay profile that is more ionic and more amenable to salt leach they can hone in on it.
Anyways, back to the graphite - and i really can't wait for the penny to drop on the opportunity here.
Here's where ITM's exploration places it in terms of contained graphite. 25m MC. Look at the size of the deposits which are trading with a ~25m MC
View attachment 4855222And the irony is that's only 1 of their exploration targets and projects. Add on lacroma, campoona, wilco.
View attachment 4855231Lacroma looks huge as well. Bigger than Sugarloaf potentially.
it's 6km long and 3km wide profile that's been indicated and 60m's thick as per drill result. Sugarloaf is 4.5km x 1.3km for comparison.
View attachment 4855264Sugarloaf stones throw from the processing facility/mining licence area.
So then the final question people are asking me is, is the material amenable for anode.
ahh yep. exceeded all industry standards. 99.99% whilst eliminating acid use...
View attachment 4855285Lacroma has similar properties as Campoona.
So they potentially will end up with 2 globally sizeable graphite deposits.
One which is already shown amenability for spherical graphite and the other sharing properties of a microcrystalline silicate graphite similar to that of talga .
So you're talking about a 23m MC company who has potential for;
-a Talga size project in one hand (450m MC)
-an RNU sized in the other (600m MC)
-REO-Kaolin deposits which are larger, thicker, (actually have ionic properties) than 3-5 micro caps combined. All worth 20-30M in themselves apparently.
Now ITM have 8m or so in cash to progress this strategy and won't need cash raised for a long time.
All located in South Australia close to infrastructure.
In 2 years time post feasibility studies and the offtakes etc we're talking a potential 500m+ company.
I really don't see many risks at this stage. 10-20 times upside is a legit potential.
I'm buying more at 25c if it lands there and others i know bullish in the graphite space are starting to catch on here.
SF2TH
(20min delay)
