“I was working on the new anns and was trying to understand what the new drill holes were saying in terms of potential of Buldania.
As some of you know I bought in because of potential of Buldania 3 years ago however KV Project has become a monster. Along the way, I always thought that LTR management was not in any hurry to uncover the true potential of Buldania along the way.
I can say now after the latest drilling that potential of Buldania is enormous, and it might be as big as KV Project. Nothing has changed for me. See the image of my post below on 8/11/2019.
The technical info and interpretation of LTR management on this anns hasn't satisfied me again. I am not sure if LTR management is very conservative as always or trying not to make any bold comment about it by a reason.
They might be trying to save it for demerging in case of takeover of KV Project, hence not to uncover its potential for a while. If no takeover happens (at the price we are asking for now, say $5, $6 whatever they are asking now), then LTR will keep going and growing with those KV and Buldania projects, and will become a huge lithium producer. Then it will be a very expensive even for BHP.
For now, I need to transfer and mark all the drill holes given (on the Jorc Table) to Google Earth and try to make a better comment and have understanding of what they are trying to do.
I am still thinking the same as I said on my post #:47431061 on 17/09/2020.
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Ohhh.. Buldania, Buldania.
This is not the first time they are saying that there is significant potential for further lithium discoveries within Liontown’s large land position at Buldania,
They said it about Buldania long time ago. But some people don't have the memory to alert them when things are going to happen. You need to know what they mean when they talk like that. That is TG's style. They are nearly finishing the deal with KV then restart the Buldania project IMO. Also Moora will be explored.
Moora is not like Buldania. Moora needs to be explored. Without drilling we can't know what we have there. We will also see if we will get some strong EM conductors (essential for defining the drilling targets) by the EM survey which has been already done (waiting for the report anns, must be on the way). I am very optimistic about Moora but the drill bit will tell the truth.
However a lots of exploration work has been already done at Buldania. We have 15mt resource at the surface. Even that amount is big enough for building a mine and a concentrate plant, but it seems we have much more there. Also the management seems quite confident about it IMO.
It is very high probability that Buldania is going to be another big lithium project. That's my opinions of course.
Just wait and see.See my post after an anns 10 months ago.
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The most important point in Buldania is finding the feeder zone of those pegmatites. What is the feeders' trend? Where are they coming from? We know the strike trend but we don't know the feeding trend and feeder zone yet. That's what I am trying to find, most probably the LTR management knows that but they didn't know it it in 2020.
I said this on my Post #: 55935000on 8/9/2021;
"We haven't found the feeder zone of those pegmatites yet. I asked that to TG at the AGM 2020 to get it confirmed. "We haven't found the feeder zone of Anna pegmatites have we" He said "yes we haven't found them yet".On my old post above you will see I was trying to find out their locations. We though they were going SW, but it's understood after drilling of that part that they weren't going there. Now it looks like there is more pegmatites at the NE and we know the extension of Anna pegmatite also goes (open) to SE. There will be a lot (extensive) drilling there. When the time comes we will discuss about it".--------------------------------------------------------------------------------------------------------------
I posted some graphic for the drilling of Buldania before and tried to make comments about the potential feeder zones and high grade drilling zones. (See my Post #:50558539 on 29/1/2021).
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It's going to be interesting to find out where the feeder zone is. It is most probably at the SE direction. If we can find it at that direction it will be a huge one IMO.
See the last hole towards the SE which was 14m @1.7% Li2O was intersected (including 11m @2%). And it's open to SE.
I marked those two orange areas on above graphic on my old post on 29/1/2021 and said LTR hsould have been drilling those areas to find high grade lithium and maybe the feeder zones.
LTR is now drilling the top orange area and getting very good results. See the image below given on today's anns.
And I gave this graphic on my post on 29/1/2021.
As a result, there will be a lot of exploration work on Buldania project, both on and around Anna Pegmatite and at NW which also gave very good results.
For now all I can say is I need to work on it more. LTR is already very much undervalued against its peers only with the KV Project value.
If CXO has a MC of $2b now, LTR is too cheap at $3.3b ($3.8b-$500m cash).
Buldania is already much bigger than CXO's project.
Same for PLL, same for LKE, same for AVZ (which has nearly same MC value with LTR even it's in a very bad location).
If they are not overvalued, LTR is very much undervalued.
Holding very tight. And waiting patiently.”
(20min delay)