Well I'm excited. If it turns out anything like another brine project I'm familiar with, a large deep aquifer will have a huge impact on project economics beyond increased mine life and production rat e.g. it may allow them to produce from higher than average grades, reduce capex, minimize surface impacts. That's assuming it proves suitable for production of course.
I suspect sellers are mostly those who took the placement at 45c who have been underwater mostly since then. Not sure when they will need to do the next round of funding, with $4.5m at last quarterly, but hopefully larger holders (e.g. SOL) will get it moving a bit before then to reduce dilution.
RUM Price at posting:
38.0¢ Sentiment: LT Buy Disclosure: Held
