Taking into account all views expressed on the wording of the update , my take on current situation with my 'reading between the lines' specs on is this -
There due diligence has confirmed the ground is highly likely to be littered with gold and lithium , they now just need to kick a few rocks and drill a few spots to confirm what they strongly believe to be there.
Since the announcement I think they've achieved a lot , I suspect their 'due diligence' has been a very useful exercise and provided the team with great confidence , I also suspect the SI who are pumping $1.2m in and getting the same oppies as us, are are also very familiar with these tenements and there proximity to world class deposits in lithium (not to mention gold which I see as having significant upside potential). To offer the oppies that expire in June in exchange for the money that will be used for drilling new tenements suggests to me given they will only have a few months to exercise ,the company had real confidence of a material event (find) before June 30........that's exciting and worth a punt!
I'm unsure on the legalities of drilling when you have these types of agreements in place but I suspect if we do have to wait for the paperwork to be filed before drilling then so be it, I'm guessing and hoping though that it doesn't matter as the drilling program will be as simple as we know where it is just confirm with drill core samples , which compared to finding nickel will be like looking for your seats at a footy game , simple enough you just gotta follow the plan unless ofcourse you've 'seen it before' which means you just go straight to it ( lithium and gold spots)
Anyway I like to dream and am hoping that this journey which took a sudden turn with this acquisition is a fun and very rewarding one!
Good luck all
Giddy up
MPJ Price at posting:
0.6¢ Sentiment: None Disclosure: Held
