Ann: Application for prospective Lithium tenement-MOX.AX, page-13

You can leave the sarcasm out of it ozherald.

Mox has hardly got a good reputation. They've been mining shareholders for years (since 2005 as you say) with one new great tenement going nowhere after another. Plainly you know that having lived through it as a self confessed long time holder hoping 'this is the one'. Just when they are trying to convince people they've potentially got something in Mt Ringwood they go and introduce another new unrelated prospect simply because it's in a hot sector? With 3 projects under exploration?

It's a bad message and a bad look where the intention seems plainly to exploit the capital raising potential of lithium. But here's the thing about lithium, it's already hot, in fact it's in a serious bubble as can be seen by the number of struggling minnows casting around for something lithium to announce. Almost all of them will never produce a gram of lithium and most particularly that will apply to those exploring for lepidolite. Indeed it's the second lithium bubble in a few years but the last one mainly happened in Canada - most of those minnows went nowhere and did nothing either.

Here's my call and rough road map formed today on the back of this announcement:
- MOX will release some good sampling news from Mt Ringwood
- that will be used to pump the price up followed by a quick capital raise
- I will sell most of what I have left at this point, maybe keep a free carry
- the drill campaign then will probably produce average results
- at this point, as disappointing reality sets in MOX will start talking about the lithium project to set up the next capital raising. By then they will be awake to the fact that lepidolite = sucks so they'll start talking about spodumene to get a bit of attention
- in a year or so that tenement will be quietly shelved while MOX put forward the next great tenement

In relation to Fowlers Bay, I'm across what's happening there with WSA, it's the reason I'm following MOX and is their best asset imo. I hope WSA delivers and quickly because holders are going to be seriously diluted raising capital for several projects. This is the project that will hopefully be 'the one' that breaks this cycle.but unfortunately it probably won't because mining shareholders is a lot easier than mining minerals and there's always a shiny new story you can work over.