our globally significant Lithium Resource, page-9

Interesting thread, we're all enthusiastic about the gold, however our Lithium is World Class.

While under Docs leadership I can't see it being developed by FFX, it'll either be spun out of sold.

Prior to the Morila acquisition we had a market Cap of about $50m and the DFS did nothing for our share price.

Our figures stack up against the likes of LTR, PLL, AVZ who are all at similar stages (or behind) to us, yet they have market caps of $450m, $520m $245m respectively & AVZ only own 60% of the project. It's hard to compare apples with apples, however a few examples. PLLs resource is about a quarter the size of ours and much lower grade. LTR has a 50% bigger resource than us, but lower grade, similar NPV. AVZ's reserves (not resource) is about the same as ours inc grade when you account for the fact they only have 60%.

As other posters have said above, it is very important to be in a position of strength. In one of the presentations, Doc said a company offered to take our project off our hands & just pay us a royalty. We now have a huge advantage over the above companies & especially all those Li hopefuls with market caps around $50m. The gold income gives us this strength.

If we did sell our project, we could choose the timing when Li prices are high. Other companies like the ones I mentioned above, have to get offtakes in order to then get finance, then they have to build the project with associated time & cost over runs. Look at GXY & PLS, by the time they got their projects commissioned, Li prices had slumped. Timing is everything and from a position of strength one of our options is to just sell the project at the right time.

So I think what has happened, is prior to the Morila acquisition, the market saw us as being underfunded & having continual delays in our DFS - assumed the worst.

Obviously the DFS was delayed because they've spent the last year trying to conclude the Morila deal. When the DFS did come out, it was overlooked because the Morila deal overshadowed it. Goulamina is the largest uncommitted hard rock project and anyone wanting a piece of it will need to pay up. Once they get Morila bedded down, pit drained, processing hard rock ore etc we can look to monetise Goolamina. At a $120m market cap we're under valued as a gold producer and looking at the market caps of the above 3 stocks we're certainly undervalued just for our Lithium alone. The market will eventually catch up.