One key point that should be considered in today's announcement is that Stannum is right on the border west of Wodgina. Wodgina is a world class Tantalum Lithium operation recently bought by Mineral Resources.
Pip Darval, our exploration manager is the ex Atlas exploration manager and has worked Wodgina (Atlas owned Wodgina which is now owned by MIN) with massive discoveries - he is very experienced. MCT Lithium consultant is Marcus Sweetapple who did his PHD on the Wodgina greenstone belt.
This is a very fertile belt and previous Ann and article in The Australian back in August this year talks about the 1% Lithium in the tailings over at Wodgina. Atlas say they mined 22 mt of tantalum back in June 2015. If the tailings have 1% Lithium, then we would expect a much higher grade from pegmatites. We are in a greenstone belt here.
There was a large spodumene crystal found at Tria, announced Aug 16 which bodes well.
Another critical point to understand is that Wodgina has established infrastructure including mine, plant, power and water (some of our neighbours to the east of us have water issues....) That gives MCT some excellent options for speed to market.
The assays will of course determine precisely what we do have but our location makes me very optimistic.
MCT Price at posting:
7.7¢ Sentiment: Buy Disclosure: Held
