Ann: Pilbara Lithium/Gold project - acquisition update, page-40

Phat Stax, You are correct as at yet the Company has found nothing either Nickel or Lithium on our yet to be acquired tenements, and the question could be does the SP reflect this? With speculative stocks such as this the SP generally reflects an anticipation of something, in this case a find. You will have noticed the increase in the SP following the last announcements, given that nothing has been found and until the EGM we do not own these new tenements. Therefore, it could be argued that the increased SP, we have seen, reflects an anticipation that firstly we will own it and secondly something will be found. Generally how much the SP increases on good news depends on how much the SP has built up, in anticipation, prior to an announcement. This is why on making an announcement a stock may go down, not as some would assume increase.

As regards the second part of your post, simply yes there could be the possibility of future earnings. However, you have to understand that it could be a long time between a find and producing an income. In simple terms the economic situation needs to be assessed and if viable what income stream will result, along with the cost of establishing the income stream. This is something that will be of interest to any holder who proposes to hold this stock long term. IMHO any effect of potential earnings are a long way off and any short term increase in the SP will be based on a "find".