Ann: Kanuka Lithium Project - Update, page-35

G’day radx.

I was and still am in my beloved CXO

This does have a Zola/Ringwood feel to it I must admit..

My summation of today’s announcement:

The bad news: at the moment it looks like no spod is present at Kanuka. I come to this conclusion by:

*spodumene not being a present element in the auger samples in table 3
*no mention of spodumene observed in the 29 holes drilled to date.

The good news:

* to date the RC drilling has only been conducted on the Kania Main Pegmatite. Using my beloved CXO as an example, they have pegs with some of the highest grade found in Australia, then there are pegs only a few hundred metres away from those which are almost barron of spod/Li mineralisation. So just because spod wasn’t encountered at Kania, doesn’t necessarily mean there won’t be any at the Kolombo prospect

* spod may be present at depth. With DD soon to start, who knows? They might find something at depth

*spod IS present at Kitotolo.

At current market cap, Kitotolo alone is worth a punt IMO. That’s why I will hang around.

Right now we took a swing and a miss...there are still a few more balls left before we strike out. We still have a chance to hit a home run.

All IMO

GLTAH