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50.0¢ essential metals limited

Nice find Cheynne. If those guys find anything interesting there...

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Tombo_Jones

318 Posts.

67

03/08/16

17:33

Post #: 18437404
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Originally posted by Cheynne ↑

PIO twiddle their thumbs.
Luke Frederick Atkins has a high performance with many mining companies, a lawyer who is the CEO of Alltech Chemicals (ATC). These shares were up 154% at end of Financial Year. He appears to know how to pick tenements and run Micro Cap mining companies. He is also a director of Bauxite Resources (BAU) which has been set up pretty well. Most recently holders each received 5 cents a share return of capital as the result of of the sale of their Fortuna Deposit as well as receiving other incentives for their company. BCA still has $16.9 mil. After Return of Capital expenditure. So? You may ask. Well, when Mr Atkins makes a Lithium move some might raise an eyebrow.
BAU have just secured a holding on The Lort River Lithium Tenement between the holdings of PIO and Metalicity Ltd between Ravensthorpe and Esperance in WA.

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PIO has reported from their data for their holdings
Th Project was generated through interrogating the Geoscience Australia ‘National Geochemical Survey of Australia: The Geochemical Atlas of Australia: Dataset’ (de Caritat et al, 2011) which included a sample taken from the Lort River catchment in south Western Australia that contained the highest lithium value from a stream sediment sample in Australia.

This also why BAU and Metalicity who have some success in selecting successful tenement sites both now haveholdings both abutting Pio's larger holding.

This is from BAU's Quarterly Activities Report on their holding:
NEW EXPLORATION PUSH INTO LITHIUM PROJECT Bauxite secured an application exploration licence E74/595 on ground prospective for Lithium. Lort River Lithium Project - E74/595 The Lort River Lithium Project is located between Ravensthorpe and Esperance and approximately 120 km east of the Mt Cattlin Lithium Mine in Western Australia, see figure 1 below. The project comprises an exploration licence application that covers 68 graticular blocks. The application lies between Pioneer Resources recently pegged leases to the east (E74/581 and E63/1776) and Metalicity Limited tenement (E74/574) to the west. A Geoscience Australia stream sediment sample taken in the south of the tenement returned an elevated lithium value. Publically available soil geochemistry sampling is limited within the tenement however extensive soil geochemistry lithium anomalies exist along structural trends immediately adjacent to the tenement. Assessment of the project area and advice of the planned exploration work programs will be provided in due course.
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Okay, it looks like PIO got in early with Metalicity and BAU, who have a history of picking them, now in also. It must be thought of as a possible hot spot not to be ignored. PIO will now probably just sit on it presently (who is adjacent?) and if either alternative companies have success then the value will increase considerably..
Just information for the back-burner for us at present on another PIO holding of some potential maybe.

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Nice find Cheynne. If those guys find anything interesting there it'll be good for PIO. Definitely will watch.

PIO Price at posting: 2.5¢ Sentiment: Hold Disclosure: Held
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