While the Ta enrichment is interesting, Peter, the results...

While the Ta enrichment is interesting, Peter, the results announced today do not suggest a coherent body of Li-Ta mineralisation exists at Manindi. MLS drilled a decent program that appears to have sufficiently tested the known pegmatite occurrences but the one decent Li intersection and the one decent Ta intersection are both neighboured by holes with no significant result along strike which implies irregular grade and drastically reduces tonnage potential. While the system is technically open at depth, I don't feel the grades reported warrant additional deeper drilling as this would be a more costly program with a lower chance of success given that without significant mineralisation occurring at shallow depth, then any resource at depth needs to be both larger and higher grade to be economical. Size and grade at depth for the Manindi pegmatites both look unlikely from my perspective.

As many have commented, the main play for MLS is the graphite and it would be pleasing to see more funds directed towards that - especially in the form of additional drill meters - rather than chasing low probability odds at Manindi.

Cheers,
Bornite