POS has a market cap of circa $41m but trade is suspended this minute and it may fall on the back of this news:
Poseidon halts lithium drill program
"Lacklustre returns from the maiden program at Poseidon Nickel’s Medusa lithium prospect has the Michael Rodriguez-led firm reconsidering whether it will pursue future campaigns at the site, near Norseman.
On Friday, Poseidon reported assays from its 20 slimline reverse-circulation program, totalling 1245m, had been received with all results less than 0.5 per cent Li2O."
MTC, by contrast, has a market cap of circa $27m and is awaiting results at Adina, which could arrive any second:
"~2,000m diamond core drilling campaign has commenced at the 100%-owned Adina Lithium Project where the Company has identified an approximate 350m x 2km outcropping pegmatite with high grade lithium mineralisation at surface with assays up to 3.12% Li2O"
"Li2O grades of 1.58%, 1.67%, 2.43%, 1.79%, 3.12% and 2.08% from surface"
The point is, MTC's target at Adina is massive and the surface grades are fantastic.
Yes, POS is primarily a nickel company, but the point I am making is that identifying a good lithium target is not always easy.
More market share for MTC
All opinion only, pure speculation, not advice, dyor etc
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