Short Term Trading Week Starting: 22 Aug, page-72

Hey Ras,
How good was CLQ? I decided to jump on the C-train first thing this morning. That third test of 49c was whispering my name and when I saw 50c I couldn't resist. Congrats long term holders, your coat tails were super comfy hope there will be plenty of snacks for the rest of the trip.

In regards to SCONI, my guess is it isn't going to do a lot. In the short term anyway. I'm not aware of any companies in active talks with MLM. Not to say there isn't secretly or won't be, especially if CLQ kicks on and delivers big with its DFS. But I'd imagine it will take CLQ proving the economics of Syerston before general market interest picks up. PGM, JRV & RIM however may attract the nearology hype aka the AJM's to CLQ's PLS. Mentor's map shows how easy a sell that idea is. It might be a stretch to call North QLD's SCONI project a nearology play to NSW's Syerston. I think if you're in MLM it's for Bauxite. I believe the size of resource and quality of SCONI is below Syerston. I think it's in MLM's best interest not to throw SCONI away too cheaply as it's early days in the cobalt and scandium story. I was a previous holder of MLM and will look to get back in at some stage. Being on the outside makes the slow s.p movements a lot more bearable. If you want something to look into I found MLM's heavy mineral sands project interesting but it doesn't get a lot of airplay. On MLM's website there is a couple of preso videos.

EPM was an interesting head scratcher. This is no peasant company becoming their JVP, it's RIO. Market must have been like, "Rio? The olympics is over bro, no one cares." Anyway I think the terms are fair. Super cheap for RIO but currently EPM has tenements coming out of its ears but hardly any money. It's better to let RIO share in the spoils and get cracking on working out on what's under the ground. Also RIO has offer of first refusal which should mean they are keen on the entire Liverpool area not just the Devil's Elbow. Now clearly they got a good price because of the low in Uranium price and EPM could have held out till it rebounds but in the meantime they're going nowhere as a company. An exploration company is meant to find something, flip it and move on. Looking at the price movements in March I think people knew about RIO coming for a while which may explain the lack of movement now. The only issue I see is RIO has 3 years to put in $1.5m. EPM would be hoping they don't use the whole three to get traction. I'm interested to buy in but will defs wait till I see what kind of urgency RIO approach it with. Got a lot of study I want to do regarding the surrounding area. I thought there was a lot of issues with the Jabiluka prospect that ERA owns nearby.

Keep the codes coming man, you've been finding good stuff.