MQR

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Ann: Response to ASX Query, page-4

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sidewest

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18/09/17

15:03

Post #: 27292161
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Originally posted by stevenjd ↑

"2. MQR completed its drilling program at the Clayton Valley Project in August 2017. Prior to commencing the program, the board, in consultation with its consultant geologist, Bill Feyerabend, determined that the most appropriate and prudent approach for analysing lithium brine in the Clayton Valley was to send drilling samples to two separate and independent laboratories. Once both sets of data were received from the labs, MQR’s competent person would then collate and analyse the data and prepare a final report for the board containing the exploration results. As at the date of this letter, MQR has only received raw data on the drilling samples from one of the labs. MQR confirms that it is not in receipt of exploration results generated by the drilling program that have not been disclosed to the market.

3. Negotiations have ceased in relation to the resource asset acquisition referred to in the June Activities Report and, at the date of this letter, it is unlikely that negotiations will recommence.

4. As disclosed in MQR’s prospectus dated 8 February 2017, GTT is engaged as MQR’s corporate adviser, however GTT had no direct role or involvement with MQR in relation to the resource asset acquisition referred to in the June Activities Report"

interesting, point 4 to point 3.
Has GTT something better in mind, for the former negotiations for asset acquisition to cease ?
If GTT had no involvement, who was leading the project selection? Perhaps due dilligence has determined a better direction.

Anyway, at shell value the ball is in GTTs court i guess to provide some corporate direction.

Or, are the preliminary lithium results good enough to just aim focus with.?

interesting little shell, what are you up to?

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Agree. Interesting situation. The cheap options must have caught ASX's attention as their letter was dated the day after the options were issued.

Doesn't make as much sense the recent maneuvering behind the scenes if the acqusition has fallen over.

Might be swimming in Lithium here after all

MQR Price at posting: 15.5¢ Sentiment: Buy Disclosure: Held
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