Diluted market cap $47.3m @ 12c, Cash $2.4m, Diluted EV $44.9m ($39.2m including options cash due Aug-17)
Surprised no one has tipped this since the news started flowing, I guess I will give it a go. No luck with my last several tips.
Two recent sets of positive drill results have indicated good grades of lithium in the Bynoe region, further drill results expected in coming weeks. The prospect of an economic resource in the area is appealing due to infrastructure and proximity to China.
E.g. It looks like there is a 66kV line a few km from Zola, a sealed road, it is about 65km by road to the Port of Darwin and a residential workforce. These facts have the potential to considerably lower capex and opex.
Sea freight to China is pretty cheap these days (Iron ore is about US$5 per tonne ex Port Hedland), still every little bit counts, particularly at a different point in the resources cycle
Port of Darwin to Qingdao = 6300km
Port Hedland to Qingdao = 7500km
Esperance to Qingdao = 10500km
Considerations:
No economic resource yet, potential somewhat priced in
Cap raising will be on the cards sometime in the future
Has run hard since last Friday 23rd
