RE:this is the best cobalt play you can get under $1The 10 million or so shares traded on Friday may represent that all of the .05/share buyers are gone. They did okay, more than tripling their investment. And now, perhaps the influx of new, stronger hands have arrived.
Phase II drilling will tell the tale and if it goes well, LIC is vastly undervalued from its current share price of .17. There are reasons to be optimistic. Geological formations do not suddenly change or disappear, if this is a cobalt bearing region then all LIC has to do is find it, and Phase I demonstrated that they have, albeit from old historical records. It seems that Phase I proved up the old historical records and now Phase II might be a step out of the existing area to add more potential cobalt. LIC might be more adventurous and look for a new deposit, but this wouldn't make as much sense as extending what they feel they might currently have. Given that Phase II is to enable LIC to issue an updated NI-43101 report then the extending of the historical area makes sense. Below, again, is an excerpt from the key paragraph:
We are working on the design and amount of metres to be drilled of the Phase 2 drill program which will then be the basis of completing a 43-101 compliant resource estimation, which will be completed in conjunction with the Teledyne Cobalt Project”.
Read more at https://www.stockhouse.com/news/press-releases/2018/01/26/lico-energy-metals-summary-of-the-glencore-bucke-property-phase-1-diamond#9C864t4A3mo3Lob0.99
Until LIC announces its plan, there may be the usual dips and rises. I am treating the completion of Phase I as a new entry point and will accumulate on the inevitable dips to come. The situation has changed with the success of Phase I and now some de-risking has occurred. I am reasoning that geological formations do not suddenly disappear. The question is, "can LIC's geology team explore in the right directions?" I am betting that the geology team knows what it is doing and will succeed in Phase II and then LIC will issue a NI 43-101 report that indicates there is enough cobalt for Glencore to jump in with both feet.
Everyone has his/her own investing criteria. I used some of the past profits from LIC to buy some cannabis stocks and made profits from sellilng those. I am now awaiting Monday to see how the market further assesses the summary of results from LIC. For me, if LIC goes up to 1.00/share then I can take early retirement on what I have invested here. If it is a bust, no problem, that is the nature of the game and to the victor goes the spoils.
Let's hope LIC's geology team has the noses of bloodhounds. Go LIC go.