Clayton ValleyExploration and development of lithium projects in Nevada will not be halted due to yesterday's news from Pure Energy. That was a massive step out that they attempted and on the best of days its a 1 in a 100 shot. Appears as though going deeper may provide the grades/brine we're looking for.
Maybe management got to aggressive with that step out but there is value in the northern portion of the property as evidenced by the previous drill program and the inferred resource published late in 2015.
As for Nevada Sunrise, Neptune is located west and the drilling is occuring to the NW of the Pure Energy holes reported yesterday. Science shows (subject to interpretation) and management believes that Neptune sits above an entirely different aquifer. With water and chip samples off to the lab for analysis, it may be prudent to wait for the Pure Energy dust to settle and data to be made available by NEV management before throwing the baby out with the bath water.
Also worth noting is that there was a demand for all the PE stock that was sold yesterday and a recovery of the share price seems likely.