still looks a cheap lithium brine play. peers you have LKE -MC...

still looks a cheap lithium brine play.
peers you have
LKE -MC 50 million
ASN - MC 40 million
RLC - MC only 12 million ( EV around 8.5)

but is far less developed than the other two plays but still seems a little to cheap.
only problems I see is Geoff is a bit slow to get on with things here imo.
only one drill hole planned?
two month timeframe for one hole?
results could be another month or two after hole is completed.

personally given the decent cash position of 3.5 million its ample money to get three drill rigs in
and drill one hole on each of the 3 prospects.
1 drill hole on salt marsh to 1km
1 drill hole on big Smokey to 1km
1 drill hole on alkali lake north to 1km

that way you will get results on each about the same time if all the results are great then
you pick the best on and do some more holes on that one.

say if smokey and alkali have poor results and salt marsh is the standout then focus should be keep on that one.

I just don't like the decision to only do one hole on one target project it increases the risk of getting a poor result drastically and not only will it waste about 3 months time but the SP will will get dumped as well on a poor initial hole.

why would management put themselves in such a poor % strike rate if they have the money to give it a real good go and at least prove up one project area within a decent time frame period.

I think I will ring Geoff and voice my concern over this strategy, otherwise I like the prospects as a whole.