Ann: Lithium Surface Sampling Results, page-8

not sure abt the waves thing Kip (b/c I don't understand all the lines ...... lol !)

all the juniors (ni) are marking time - till commodity price > cost of prod. allowing for restart costs and 10% IRR .......

I guess mr market questions the capital requirements for gold and Ni for MCR .......which may hold it back (short term)......

to allay these concerns, im sure management has considered the following:

1. spin out a "lith co" - say 10m raise, and MCR keeps some of the cash (plus a royalty ?)
2. partial list of gold assets (see PAN for example)......

market will prob want to see the DFS for the gold op's ......before any excitement (imho).

having said that - its a call option over Ni prices........which is why I like the stock .......

any of the above would demonstrate "rational" management (ie focus on the areas that will generate cash in the med term, .......versus "noise" on pegamtities .......)

if you could explain the "waves" - I would be interested !!

rgds
V_H