There are approximately 434m shares on issue. Company's market cap is valued at 5.642m @ 1.3c per share.
Cash burn per quarter is quite low at approximately 0.2m and the company has approximately 1.6m cash.
Assuming similar cash burn. The next report should have approx 1.4m cash. That means the gold projects (i.e Ringwood/Croydon) and lithium projects are valued at 4m all together.
Litchfield can be directly compared with CXO's Bynoe Pegmatite Field as they are only approximately 100km apart. CXO's top rock chip sample had 0.8% weathered spodumene and a 0.1% Li2o average with the rock chips and we found 8% amblygonite in multiple places as our top sample and an average of 2.3% Li2o average with rock chips. MOX's Litchfield is approximately 750 square km. (Doing a map to map comparison with Litchfield National Park)
We are soon going to start costeaning (Digging shallow trenches) and auger sampling (sampling with a specific tool that is light and allows you to push into the dirt to test for rocks. We are awaiting regulatory approvals to do both of these processes and the decline in price is quite strange.
(All information has been sourced using CXO's announcements and MOX's announcements)
