Ann: December Quarterly Activities and Cash Flow report, page-8

Yeh definitely confident on this one. Is a long-term hold for me as I value to be much much higher in the future so this volatility isn't causing too much concern.

Buffet says: It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price.
Right now at 4.5c, I think RLC is a wonderful company at a wonderful price lol. Have bought up some more recently. Cue star wars meme:


From my understanding, the drill rig is coming over from another job so timing is hard to estimate. If the other job takes a few days extra/less, it'll directly flow over into our start times - unfortunately, not something our management can control.

But the quarterly still states that drilling is expected to commence this month so definitely all fingers and toes crossed for spudding this week or early next week. I hope Geof updates us with some nice snaps of the drill site and rig once it all gets going.

And in ~1.5 months the first assays will start to come through and by start of Q2 this year, we will probably have the brine sample analysis results. RLC is also the third company (after Albemarle and Pure Energy Minerals) to drill 1000m or more in Nevada. Both these other companies have hit very favorable results. Hopefully, we will follow suit.

I also like this part of the quarterly:
Recent drill results reported by Caeneus Minerals Limited (ASX:CAD) including identifying lithium, potassium and boron rich brines in relatively shallow aquifers in its Columbus Marsh project underscores the prospectivity of the basin. The lithium endowment of the region is also supported by the high lithium and boron grades in outcropping volcanic rocks reported by Global GeoScience Limited (ASX:GSC) at its Rhyolite Ridge project which is located in the hills between our Columbus Salt Marsh and Big Smoky South projects.
... nice

Another thing to note is changes to water permitting:
A permit to pump 6 million litres of water from the Columbus Salt Marsh drill holes for test purposes was granted during the period while a similar application to pump water from the drill holes on the Big Smoky South project was declined pending changes in Nevada’s water regulations which came into effect on January 1, 2018. Applications for replacement drill and water well permits under the new regulations were in preparation at the end of the Quarter.

Good to see changes to water laws in Nevada happening. Could even position us with better opportunities to get a production water permit in the future.

Bid/ask not looking too great atm if I'm honest... But once we get some more attention (i.e once we start drilling?), we could very well see double-digit share price (in cents). After all, we are still cheap imo. ASN is still floating around 90-100mil fully diluted and Lake Resources fully diluted is almost triple our market cap. PNN not looking so healthy after unconvincing Rincon results.

Sleep well fellas. Drilling to start any day now.