RLC - 2018

Seeing that we have a potentially very exciting and price-sensitive year coming up for RLC, I thought it appropriate to do a quick wrap up on 2017 and what we can expect after the New Years.

22 Dec 2016 (SP 1.7c) - Intention to acquire Nevada lithium brine assets first announced. 700k is needed in short term to fund geophysical works and project expenditure. Cash at this point was around 220k (End dec '16)

28 Feb 2017 (SP 2.2c) - Independent experts report and EGM meeting announced. Strattons (the independent experts) value the acquisition at $8-10mil AUD. Our consideration payable is $2mil.

16 Mar 2017 (SP 1.5c) - Research capital report sent to shareholders. Explained the to be acquired asset and valuation.

20 Mar 2017 (SP 1.9c) - First entitlement offer announced. Up to $2.1mil to be raised. Issue price at 3c. note the premium to the last traded sp at the time.

30 Mar 2017 (SP 2.8c) - 3Y anns from entitlement.
J. Hamer acquired 3,743,466 ($107,804);
G. Fethers acquired 3,333,333 ($100,000);
A. Griffin acquired 2,025,010 ($60,750)

10 Apr 2017 (SP 2.2c) - Geophysical surveys commence. Work carried out by Zonge International.

18 Apr 2017 (SP 2.4c) - Entitlement offer closes, $521,957 raised in total. 50% was from our 3 directors. This gave us enough money to complete all necessary works and expenses up until drilling.

26 May 2017 (SP 1.9c) - Big Smokey South MT survey results released. Significant <1 ohm-meter area present.

29 May 2017 (SP 1.9c) - Alkali Lake (North) MT Survey results released. Significant <1 ohm-meter area present.

30 May 2017 (SP 2.0c) - Additional ground claims staked, expanding our project area.

30 May 2017 (SP 2.0c) - Columbus Salt Marsh MT survey results released. The best result to date. Huge <1 ohm-meter area present.

30 Aug 2017 (SP 2.8c) - Columbus Salt Marsh drill permit received. Water rights situation explained.

23 Oct 2017 (SP 2.5c) - Big Smokey South drill permit received.

9 Nov 2017 (SP 5.6c) - Fully underwritten 2.5c $3.5mil entitlement offer announced. Patterson is lead.

18 Dec 2017 (SP 3.8c) - 80mil share issued to vendors of Nevada Lithium Limited (NLL). NLL becomes 100% owned subsidiary of RLC. Entitlement offer closed. $3.0m taken up by shareholders. $0.5mil placed to Pattersons.

19 Dec 2017 (SP 3.6c) - 3Y from directors.
G. Fethers  acquired 4,000,000 ($100,000)
A. Griffin acquired 5,840,538 ($146,013) + 20,000,000 (25% interest in NLL)

29 Dec 2017 (SP 5.4c) - Last trading day of 2017.

I think its safe to say that RLC had a year full of ups and downs. Very difficult financing environment in H1 but the directors put in 250k of their own money to the 3c raise to push the project forward (and another 250k from other shareholders). This was almost at a 50pc premium at the time.

Even when the MT surveys spat out fantastically low resistivities, the market still didn't want to hear it. But our directors' hard work and commitment nevertheless paid of and now we have ~3mil in cash and a much healthier share price.

We are still somewhat under the radar going into '18 but I'd say but that's no longer relevant at this point as we have the goods and will be imminently drilling. Geof is probably working out the contract right now so all good. Maybe he's haggling boart for a better deal . Either way we are going to be kicking off the New Years will a core drilling rig, diesel, 1000m of drill rods, a team of yanks to operate all that, and soon, a suite core/brine samples. Once we have that, we can then drill the other planned holes (subject to finance) and then engage the many direct extraction tech vendors and see what can be worked out in terms of bringing the projects into production post 2018.

@minoil I suspect that if we keep moving along as we are, Geof and co. are gonna be receiving a healthy number of wine bottles in their mail soon lol