I have often wondered whether we might JV with the oil guys. Management have said in ann’s that is a potential option……………….well I am going to call it I think we have done or will do a deal with our friends at Wesco.
I am of the view that Cane Creek 7-2 will be the subject of our first deal. For those who follow closely, yes cc 7-2 is the site just south of our skyline hole that “is owned by another company” that featured in recent tweets. That other company we know is Wesco.
That hole is on our cloud claims but Wesco have the oil rights, hence why they are “or have been” drilling it.
Interestingly drilling at CC 7-2 is “temporarily suspended” pending the granting of a certain permit which, significantly and perhaps importantly comes after a “mineral lease” was granted on the hole by our friends in Utah on 20 Feb. I mean seriously…….on 20 Feb cc7-2 has a permit for minerals issued in the middle of drilling at skyline…….to me its clear?
Should my hypothesis be correct then it would mean we may have 2 more sets of results after skyline today around the honey pot in the next month and it might be a sign of things to come if the tech from lilac can be applied to oil field brines that Wesco actually productively operate.
This image below shows:
RED Cane Creek 32 and Pilot plant site (100ppm Li)
YELLOW Skyline site (193.5ppm li)
GREEN Cane Creek 7-2 (Unknown)
BLACK Long Canyon 1 and White Cloud (1700 and 500ppm li)
PINK Long Canyon 2 presently been drilled (unknown).
ASN Price at posting:
8.2¢ Sentiment: Buy Disclosure: Held
