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kingharris

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19/05/16

17:17

Post #: 17816061
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Originally posted by Spec_hope ↑

I fired an email to David Crook earlier today, asking why they would call a trading to report lepidolite containing a high lithium content knowing that the market only wants to hear about spodumene. His response was that considering the last two trading halts Pioneer was under enormous pressure report anything of significance. From a geologists point of view the 3.9% even in lepidolite was considered significant and they were obliged to report it.

You can imagine with all the heat in the market about lithium, the ASX would be emphasizing to all the players in the lithium sphere to give continuous disclosure to protect investors.

Later this afternoon I got a call from Wayne Spilsbury who didn’t realize that David had already replied to me. He said as much as David, but said remember we have only worked our way through a small amount of samples and that that they are still going to do field sampling over the dome later this month, all of which we know. We all suspected they are looking at old cores samples and indeed that is correct. Wayne made the point again, yes we are looking for spodumene, but we had to report the lithium % in the lepidolite as it was a significant reading and couldn’t sit on it.

I believe we still have four for very prospective tenements for lithium, so everyone chill just a bit.

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i think you missed the point though. it was the TH that created the anti-climax. There was absolutely no need for it especially such a long TH. GXY delivered immediately. I suspect they thought their anti-climax announcement was HUGE and perhaps it would have been earlier on in the season, but we are closer to the finals now its too late booms already in progress. I really think they miscalculated it but they wont tell you that.

PIO Price at posting: 4.8¢ Sentiment: Buy Disclosure: Held
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