Originally posted by billyen
GLN just released some of the BEST brine drilling results I've ever seen on just their 1st drillhole.
4-5 more to go, followed by a maiden JORC....
https://www.asx.com.au/asxpdf/20190213/pdf/442kzxkvv0yq78.pdf
NEW HIGH‐GRADE LITHIUM DISCOVERY
CANDELAS LITHIUM BRINE PROJECT, HOMBRE MUERTO, ARGENTINA
Initial assays confirm thick, high‐grade lithium bearing brines at Candelas
* Partial intercept received; 65 metres at an average of
862 mg/l Li from 235m to 300m
* 119 metres of brine encountered from 235 to 354 metres (current depth)
*
Low impurity levels with an Mg/Li ratio <3 ‐ comparable with high quality
brines currently being mined at Salar del Hombre Muerto
“Preliminary field measurements and laboratory analyses on brine suggests that the
Candelas Project has the potential to become a world‐class soluble lithium deposit
hosted in a unique geological setting.” (SRK Consulting)
POSCO paid
385UUD for GXYs holding on the SAME salar.
GLN just as big, current MC...a tiny
40M
It don't get much easier then this.
5++ bags easy in 6-12 months IMO
IMO
DYOR!!
@billyen
GLN price is already factored in. For $41 million company to go up 5X or 10X (as you are saying), this will imply market cap
$200 million to $400 million. By the time they finished drill, they will be running out of money and will require further capital raising. That is, more shares on issue and much harder to get to 5X to 10X current share price.
The higher you go, you need to prove you have more resources. I'm not saying GLN is a bad stock. I'm saying I want to make money in multi folds and higher you go the harder it is to double your money (i.e. from current 41c to 82c).
I made several folds with several stocks in the past. For example, one company it was $10m company when I bought their shares and I sold at $100m market value. I don't see it goes up from $100m to $1 billion (i.e. the same 10 folds increase as from $10m to $100m), so I sold out.
BMG on the other hand, it is much more likely to double your money from 0.8c (i.e. from 0.8c to 1.6c). You don't need to prove much resources, just drill a few holes with ok grades.
Just IMHO
