Well folks, we are now in June, and could be in for an exciting...

Well folks, we are now in June, and could be in for an exciting month. On our to do list:

* 2019 exploration campaign. Given our Darwin natives have told us on here that it wasn’t a big wet, you would think this year’s drilling campaign could kick off any day. We could be in for an exciting campaign, including:

- resource and reserve increase at BP33
- 50% to 100% increase of Carltons resource, 50% increase in resource confidence, and initial resource reserve
- drilling of Lees-Booths and Hang Gong for a combined additional 5MT - 8MT target, Lee’s-Booths initial resource estimate, and the potential for reserve status for both targets.
- planned 50,000m+ of RC/RAB drilling exploring new targets. This is exciting as it includes exploration of the Grants Steep Fairway program (which is home to 10 Grant “look-alikes”, the Far West belt (45m @ 1.57% from 62m), and areas which have had little to no exploration (what might lay there waiting to be discovered?)), the SDSP Fairway program targeting shallow dipping stacked pegs, and the Sandra’s large fairway program, targeting extra-large pegs including some which have yet to have seen the drill bit before.

the last qtrly report told us that $1.2mil was estimated to be spent on exploration this qtr. As we are already in June, I don’t see us spending close to $1.2mil, so I guess a positive is that any CR (if needed) could be postponed for a while longer.

* Hartleys 58mil 8c options expire 21st June. The only chance of these getting in the money is if an offtake or finance announcement is made. If management want the $4.65mil from these options, you would think they will be pushing to get the finance/offtakes completed before then.

* As our good friend @qiktory has told us, the EIS decision is due 26th June. The last big environmental hurdle for us.

* and as we were told last week, Core is well advanced with debt financiers and finalisation of offtake terms, as well as now working on offtake for lithium fines. These Lithium Fines are a game changer. Depending on how much tonnage we have, I could see us doing something like US$12.5mil for our remaining 180,000t of concentrate reserves, US$15mil for 500,000t of FL (a bit cheap but hey, it gets us the mine) and $10mil debt facility. Something like this. And I will tip that the deal will be done with Ruifu. The fact that it has been nearly a year since the non-binding agreement with Ruifu was announced and Ruifu are still here at the table and contributed in our last raising, I think a concentrate/FL combo is what will get us their signature.

So a lot to possibly look forward to in the near future. And assuming all those ducks line up, mine management plan is approved and FID is made to go ahead with the project, then for the rest of 2019 we get to look forward to mining and construction, a global Finniss resource base which could reach 20MT by year’s end, new discoveries from 50,000+ metres of exploration, a large increase in reserve status, and an updated DFS showing much greater project economics. And hopefully the lithium sector has finally turned and all of this is happening in a bull market.

all IMO

GLTAH