IronRidge Resources (DGR 26%), page-67

Anyone wondering what Vince was talking about when he mentioned lithium peers in his last interview?

One of the peers is Pilbara Minerals' Pilgangoora project in Western Australia with a £1bn market cap and about to go into production. You guys on here should know it well.

They are years ahead of us but its only a matter of time imo.

15 times our current mcap and this comparison is only done on ~2/3rd of our Ghana licences and doesn't include the big prize at Egyasimanku Hill.

Of course, this is only the lithium so EVERYTHING ELSE is a bonus with this comparison.  However, it also doesn't include Pilbara's other assets (which I am less familiar with).

The key things to look at here are:
1. Strike length potential is similar but I only took into account the mapped pegmatites at the Mankessim licence (the other ~300km2 that IRR have at this location is a bonus)
2. Pilbara are producing spodumene concentrate which is the easiest (but least expensive) so easy and relatively inexpensive for IronRidge to do the same
3. We are slightly closer to port so slightly more economical in this respect
4. We have significantly more upside potential when you take the other 240km2 Ghana licences into account
5. Our drill intersections look significantly better but our area coverage may be less dense - will take time to see if these balance out or not
6. Grades as yet unknown for Mankessim drill but at surface look comparable or even slight better
7. Labour costs in Ghana will be significantly less than Australia so should be more economical



Lots of gaps to fill in, still lots of risk in terms of resource potential but all of the indicators are there.