So No2 in your theory is out! Wabli Creek is Columbite

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roblun

5,639 Posts.

2219

22/12/23

18:43

Post #: 71597126
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Originally posted by Maverick7: ↑

Hi Folks,

Back with some uncomfortable truths for those who can stomach.

1. Phase 2 Lithium drilling
Looks like the same as for the 1st phase ie. negligible Li results based on the fact that the announcement is similar to the previous announcement with little detail and subtle clues suggesting they've again found nothing, compounded by a non-market sensitive announcement and a big dump of shares the day before.

2. Niobium
Lots of holders seem to think this will be their ticket to fortune, but before you bet the house or put a deposit on the Ferrari, consider the following:
Walbi Creek is a pegmatite hosted system, WA1 is a carbonatite ie. different geological hosts.

Carbonatites have a 9% chance of hosting a mine, which is exceptionally high considering the generally stated theory that roughly 0.1% of mining projects will become a mine.

To my knowledge there are no 'primary' niobium deposits hosted in pegmatites in Australia, so for those making comparisons to WA1's discovery you are comparing apples with oranges. That they've found some high grade rock-chips and anomalous soils, while better than nothing, hardly guarantees success as shown by their 1st phase lithium drilling which had both on surface but nothing economic underneath.
Realistically, I think the chances are very remote of finding a high-grade, decent tonnage niobium resource.

Also, keep in mind that niobium is quite a small market with only a handful of companies with primary niobium mines.

Per usual, I'll be ignoring childish ad-hominem attacks or "what stocks do you like", but will respond to genuine and respectful questions.

Cheers

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So No2 in your theory is out!

Wabli Creek is Columbite

RR1 Price at posting: 0.4¢ Sentiment: Hold Disclosure: Held
15 Upvote

5 Great analysis

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