AYYYY Only 1 day late (U.S is a day behind I think) so am very...

AYYYY

Only 1 day late (U.S is a day behind I think) so am very thankful that drilling has now commenced.

The Boart Longyear rig is already onsite. Just need to wait for setup of collar pipe now. Hopefully, the first spud will happen within a day or two.

I also love the language used in the opening of the announcement. Lithium developer, Reedy Lagoon.... Not lithium explorer but a developer. Looks like we've leveled up.


Interesting fact;
The Company is an early adopter of new regulations introduced in Nevada on 1 January 2018 and Reedy’s first hole, CB-1 has Permit number W001 - the first Dissolved Mineral Resource Exploration Well Permit granted in Nevada
Looks like we are the first company to drill under the new code.

Will be a bit of a wait for the full 1000m to be fully drilled through.



From my calculations,
- core samples will take 30 days (drilling) + 4 weeks (analysis) + ~1 week (return transport). Total: up to 9 weeks. First results will likely be released before this, however, since at the AGM, Geof said the cores will be sent for analysis as they are drilled.
- brine samples will take 30 days (drilling) + 2 weeks (pumping) + 4 weeks (analysis) + ~1 week (return transport). So, up to 11 weeks for full brine analysis results of all the aquifers.

There will no doubt be several Anns between these dates to mark key milestones.

Hopefully, we get the opportunity to advance to the last dot point - metallurgical studies. Once, there will we get a better gauge on our chances of becoming a 10kt+ p.a carbonate/hydroxide producer.

Reedy is still very much under the radar. We don't have much of a retail base either as shown by the tiny hotcopper views and shareholder count. I am confident this will change as we continue to tick more boxes plus the marketing that will come as we progress drilling.

Also - I found out that the esteemed Forrestfield is a holder of RLC and has a 'decent stake'

Enjoy the rest of Friday guys. Can't think of a better Ann than this to close out the week.