Next Week Catalyst

We tested $2 and failed again this week. There will be three catalysts next week which may move up or down the SP substantially.

1. Drilling Result: It will be released next week for sure. Now I don't believe our Adina resources will be capped at 40-50mt. We will continuously extend to north and west and with a smaller possibility - East. The East extension may not be continuous and thus not economical. Regardless, even west and north extension will push our MRE over 70mt. The next question is how far this goes in the west?? In addition, I wonder whether all outstanding drilling results will be released altogether next week. It is bad and good. It is good because we can see a clearer picture. It is bad because we may not get another drilling results for 2-3 months if they do release all next week. The reason is bushfire. The drilling has been shut down for 1.5 months now. If they come back to drilling in late July or early August. We probably won't get another drilling results until late Sep-early Oct.

2. Bushfire: it is getting worse now in Northern Quebec. Some mentioned that the rain is coming over the weekend and hopefully the ban can be lifted sometime next week.

3. Lithium price in Shanghai metal Market: looks like it is going down again in July although it is not material. Looks like most lithium price is now set by long term contract instead of spot market.


Anyway, good luck to all of our long term holders.