Ann: Exploration Update-MOX.AX, page-34

I tipped this in the STT threads. I'll re-post here:

SOI: 458M
Current SP: $0.011
MC: $5M
Cash: Approx. $1M
EV: Approx. $4M

MOX has previously stated that soil and auger sampling was to take place early in November at Litchfield which contained up to 8% lithium in their rock chip samples. The Litchfield area is located approximately 110 kilometres south of Darwin and is part of the Litchfield Pegmatite belt which is almost 200km long and includes the Bynoe Pegmatite Field to the north (i.e. not far from CXO). Monax is planning a soil sampling program to test these areas for spodumene.

They’ve also alluded to a drilling program in the December quarter at the Percyville Gold project in Queensland. Initial reports were up to 62.5g/t of Au with an average grade of 10.3g/t of Au and up to 620g/t of Ag and well as Cu up to 21%.

The SP has been well supported at 1.2c by some on market buying from a new substantial holder (Contango nominees). They had scooped up around 4.1M shares and got the remainder of their shares last Friday. Since there hasn’t been any news from MOX for a while, I believe they’ll support their new substantial holder by releasing some news soon.