"Below is a bit of a visual summary of the holes not included in North's Maiden JORC of 1.2Mt to try and illustrate my point. If you note the thicknesses, qualities and the vicinity to the current resource surfaces displayed I think it wouldn't take a great deal of extra infill drilling to get a nice upgrade to the North resource. If you guesstimate that this could afford us an upgrade of 0.8Mt to a total of 2Mt for North then add this to the exploration target of 3-5Mt for Central and South and we could be looking at at resource of 5-7Mt on the conservative side. If you then compare ADV's MC to those with a similar size resource then the MC of ADV could be in for a decent re-rate. All IMO DYOR."
How would you like me to debate your post mrjeza? You suggested a debate on fact. Yet you use words like "guesstimate", "could be looking at........", "could be in for a decent rerate.....", "I think.....". This isn't the making of a factual debate; it's just you trying to convince everyone of your over-optimistic assessment based on a poor definition of "good" drill results. Take time to compare ADV drill results with other current drill results. Compare widths, grades, total tonnes and total contained Li2O. If you do the assessment without bias, you will find that ADV has nothing in comparison. That is why ADV never appears on any comparison charts that are littered across the lithium forum. No one takes ADV seriously because their current lithium-containing sandpit doesn't warrant inclusion in any serious comparative study. To be blunt, the ADV MC of $19M is unjustified for the resource they have. In my view they should be sub $10M. No doubt that will be further justification for the uprampers to claim ADV as a good buy, but that conclusion misses the point entirely.
The culmination of all drill results is a measly 440kt resource. Yes, there are some sweet spots in the resource but they are few and far between. The quality of the resource is what matters not the individual drill holes used to define it.
Finally, even if ADV met all your expectations and delivered and delivered on their exploration target of 3-5Mt. So what. This is just a slightly bigger sandpit and will not be developed by ADV.
ADV Price at posting:
1.6¢ Sentiment: None Disclosure: Not Held
