Ann: Reedy Lagoon to drill for lithium brine in Nevada, page-20

Good update Ann today.

It was simply to state that the drilling contract has been signed with Boart. The material event therefore warranted today's Ann. Most of us expected the Ann to have come out 2 weeks ago but considering the larger scheme of things, this hardly counts as a delay I reckon.

What we have to look forward to now the completion of site preparations.

"Our project manager, Geoff Balfe, is in Nevada completing preparations for the drilling." Key word to note - "completing" - meaning preparation have already started.

"The contracted drill rig and crew has experience with drilling in Clayton Valley and has developed specialist drilling techniques for drilling and sampling lithium brines." - expertise - tick.




Route 6 also runs through our claims at CM. Literally. Might seem insignificant but never take paved road access for granted. It could take days of transportation time and reduce the possibility of mobility related delays.

We can observe ASN (not held) for a drilling preparation timeline.

A. 12th december
Earthworks and drill site preparation begin. Drilling contractor selected.
B. 2nd January
Site preparations completed. Road access construction complete. Drill rig moved to site.
C. 9th January
Drilling commences (7 days after site preparation completes)
Total time: ~4 weeks.

I put us somewhere between point A and B given that G. Balfe is already "completing" site preparations. Our drill contract has also been signed. Reduced road access construction needs will also speed up our drilling prep compared to ASN. Once we finish preparations, we will take no more than a week or so after that for drilling to start.

(speaking of asn - @Dscipline&Hrdwork - I'd would very much like to hear your thoughts and past research on ASN. From my understanding, their salt bearing layer also contains black shale. Isn't that just crude oil? First time I will have heard of an oil & lithium brine solution or am I missing something.)

Anyhow, I think drilling will start very soon given how advanced site preparations are. Worse case 4 weeks (assuming no preparations have started). Best case maybe <2 weeks for a start of drilling before end Jan.

We will be fairly valued at 9-10c then I reckon. Why? Because we will still be one of the cheapest brine explorers at that price not to mention the commencement of a exciting drilling campaign.