Who’s to say Kyle and if we go off past performance I’d have to agree with you.
They actually do have enough in the bank to drill as I’m sure drilling doesn’t cost 800 plus thousand. I’ve worked on rigs before and the gas fields so I know a bit about running costs as I was a supervisor.
They may also have a JV up their sleeve for the drilling or the JORC, all of which is speculation from both of us bud.
Again I’ll say mid year 2017 the world of lithium changed dramatically which the announcements from Europe and Asia alike on their plans for the near future which has put a lot of attention on lithium and how much we have and how much we need into 2020 and going forward.
I think its worth putting more emphasis on the world and where we’re heading Kyle and not so much on CG even though he’s got a role to play and he hasn’t been the most reliable in the past but today and tomorrow has changed from what it was before the massive push for a greener planet.
Read everything you can people from lithium to battery techs, graphene and graphite and even new battery techs that may knock off lithium in the next five years if proven cheaper (meaning mining and the abundance of resources) and is faster charging and more reliable and most importantly safe to dispose of.
You also have to ask yourself why Stefan Muller has come into the picture and what role he has in all this and if he felt the same way about CG, why would he consider promoting and risk his reputation?
I’m not fused and I’m not here to convince and welcome everyone’s opinion I only suggest you focus on the changes around the world and the direction and potential LRS has and I’ll say it again, I’m betting on greed here and I don’t think CG is an idiot I just think he’s multi tasked in the past which hasn’t helped the progress of LRS and I’m hoping CG is now more focused on getting the drills in and getting a JORC and becoming something worth investing in not just a complete spec.
I’m still educating myself on the ins and outs of mining but from what I’ve learnt a JORC can cover all our concessions once drilled and the JORC will just specify each site and amount and purity.
With the amount of land we hold which is close to 250,000 hectares not including our cobalt, that could equate to a massive holding or it could all just be dirt.
As for the PFS and DFS they are done individually and we will need a JV for that as they are expensive and we don’t want anymore CR’s.
What I do know is we are the last to know and there’s always a leaky ship and the upper always have the inside info and I’m farely sure Stefan and CG know a lot more than us which is why Stefan has come into play now so I’m hoping CG does pull his thumb out and drill and has a JV in place for the JORC if he hasn’t got the money for it to get this going.
I don’t like to make educated guesses and all I focus on is risk management and spec companies are very hard to do technical or fundamental analysis on, technical is really hard as you can’t work on past history and have to factor in the current changes in demand which kinda falls in the fundamentals and their fundamentals haven’t been proven yet and they don’t own anything other than rights and not many of those rights have been past for drilling or if there is any lithium and even then it has to pass a PFS to even consider mining, so it’s all just and as always with specs a risk and how much you can loose.
But you can’t take positions on sound fundamental companies unless you’re a millionaire which I’m not but I may just become one playing with what they consider the sh*t at the bottom of the pond.
Let’s see what happens and let’s hope when they do drill they get good results and get a JORC and the rest will be history.
LRS Price at posting:
1.1¢ Sentiment: Hold Disclosure: Held
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