RE:RE:RE:GREAT POSTS BlueChipper2020 wrote: likeike wrote: BlueChipper2020 wrote: Lots of great posts today from hedge & surething. Really informative.
So let me put a different matter on the table. One concern I have now (not previous) is we may be spreading ourselves thin considering the macro environment (aweful for the sector and the equity market as a whole). What I mean, is I am not sure it is great idea to be drilling Grey River and Golden Hope projects along with Moosehead.
I was all for some holes at Golden Hope lithium play. The last PR was obviously a dud which is why is was on the last day before a long weekend. I am not saying this is a bad project, but it is going to take a lot of money and time which we do not have considering this aweful macro and limited funds. Maybe put this aside for now.
Grey River. Again, Not saying this is a bad project at all, but it takes a drill team and money and time to build out Rome.
The Company is also spending small amounts on sampling, surveys ect. on their other land packages. It all adds up.
Our funds are about 8M and they will go fast. Raising money in this aweful macro is going to result in big time dilution to shareholdwers. Us getting to $.50 will be as much a climb as when we got to $.78 considering the much larger float we have/gonna have.
Considering the posts today, is it not more prudent to slow down, allocate the additional drilling resources to Moosehead? Or is Tim drilling these other properties a sign that he needs to hedge his bets? Just asking because savy new investors would be asking this quesition also.
GLTA
BC
Agreed BC great posts by surething and hedge. I as struggling to add anthing more but to say I am
with BC go slow and develop Moosehead or you will run out of money and just make yourself a
takeover target that will get all the glory and more importantly steal the pot of gold.
Sure lithium is the sexy beast out there but how many things can you do at the same time
without running out of money. These are dangerous times and it is best to be cautious not
chasing rainbows. IKE
Likeike Your last sentence should be conveyed to Tim about these being dangerous times. He needs to focus on the money side as a priority now. BC
Ike, BC,
I must respectfully disagree.
We have a very prospective lithium outcrop at Golden Hope. Company unfortunately misread initially, and undershot much of the mineralization.
This is a wonderful development, as we now know that we have a horizontal flat lying lenz, so to speak that is fed by one or more dykes. This means that the whole deposit can be delineated using a mobile/track drill using shallow holes......perhaps 15-20 meter depth. A 10-15000 meter drill program can delineated much of this deposit, using perhaps 100 meter grids in a matter of several months bringing us into an inferred status. Dykes might take a little more work.
Sure new developments reduce my earlier (pie in sky) bulk estimates, by 75%, but we are still talking about a potentially huge deposit, that can be developed quickly, and more importantly mined by open pit with minimal disturbance.
Remember that we are joint ventured and expenses are shared with Benton.
This will be a very cost effective way to establish a very valuable resource. The lay of this lenz, also puts much more credence in the surface samples tested thus far.
Last but not least, Tim has been battling with a very complex structure at Moosehead for the past 3 years, and probably could use a little diversion, with a little less head scratching. Besides...... what's wrong with a little instant gratification for both Tim, and us shareholders ;)
We are fortunate indeed to have all these irons in the fire, and I believe that market will soon recognize what Sokoman has.
Best
S