Reading between the lines regarding the comments on lithium there, it almost reads to me as though he was saying that our lithium tenements are small and not necessarily worth exploring at the moment, in this climate. It may not be worth our time so it might be easier to farm it out to another company hoping for some return at least.
If that's the case then that exploration target stated by the company at Cancet is highly suspect. The very high grade mineralisation there starts at surface, which in mining terminology means that this is the most viable type of deposit for building a mine and extracting it. In laymans terms it means that for every $10 spent on mine development, extraction and processing, a minimum profit of $30 should be returned. Or so I believe.
So if it's not worth exploring, how off is that exploration target?
And if that exploration target has been updated, can the market please be informed via an announcement to the ASX.
MTC Price at posting:
4.4¢ Sentiment: Hold Disclosure: Held
(20min delay)