WR1 General Discussion, page-423

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Topboy1

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26/10/22

23:31

Post #: 64418335
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Originally posted by FreeflyerNZ: ↑

1. CY5 will have 7% of Stria. This is important to you? 7% of a company with a market cap of 5m and only one project that has little to no exploration?
2. New land has no evidence of any exploration, it is just close to CRE, whoopdee.
3. Management. Past performance?

CY5 have good management, but they have little to do with lithium. David Southman worked for kidman resources but his only responsibilities were auditing and risk management. Yeah ok he got MCR nickel operation into action but it was a restart and during much higher nickel prices.

The others it seems they hired each other to give away shares. Why else would you higher that many high level management for a company with such little workload as they are in an early exploration phase.

They do have Reynold and the astute Mark Calderwood who has an outstanding background in lithium.

On the other hand,

WR1 will keep working methodically. We only need to pay one man a large salary and its worth it.

He built the Pilgangoora mine from the ground up, exploration, construction and operation. Chief operating officer and General Manager. An asset now with PLS who has a market cap of 16B
With him at the helm all engineering, procurement and construction contracts were done in-house as well as an in-house DFS that would have saved millions.
He got Pilgangora financed constructed and into production at a time when spodumene prices were less than $500 per tonne.

He moved onto another one of the biggest hard rock lithium deposits that is now Leo Lithium and took them to a DFS and shovel ready stage.

Chris has a masters in engineering science and construction management.
He is director of a company Vocatus who literally tells people how they should develop their mine.
He is a Lithium technical director of Askari.

You fail to leave out the fact that Cancet is a much better resource, flat lying and gently dipping. CY5 is a swarm of pegmatites that are practically vertical.
Cancet easily beats Pontax on grade, depth, strike length and you can see from the Stria announcements that their latest drill campaign that explored the north east and south west wasn't as encouraging as CY5 will have you believe.

Chris Evans is well respected in the lithium community. And this month you saw him on the ground in snow covered Quebec. Not sure you'd see the same from the management team of CY5. I hope CY5 have a drill rig secured or they will end up limited to what they can do.

I much prefer WR1 at these market caps, taking the methodical approach, we are getting the same amount of work done. We are more advanced. Have better projects, and a huge landholding compared to CY5 without the extortionate staff costs and earn in costs CY5 will have to endure. CY5 tenements in Australia look to be underwhelming at best also.

I suggest you go through and look at past drill results and cross sections on the Stria website. Compare them with Cancet, or even Adina and report back.

I don't have rose coloured glasses on and WR1 is still the better pick. CY5's market cap is based on personnel, not the projects. WR1 will over take CY5 in the coming months when results will surely out-shadow management prowess.

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Top stuff Flyer i think we need more of your posts!

WR1 Price at posting: 36.5¢ Sentiment: Buy Disclosure: Held
6 Upvote

0 Great analysis

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