Let me get this straight! They are getting very good grades at lone star that was a past producer up till 2008 then the meltdown happened and it shut down... they buy it drill 2000 ish meters and like what they see so drill 7000m?!! Results pending and 43-101 underway is rather good imo!
their CBC property they just got done drilling results pending and decided in meantime to acquire 100% of the project?!!
their lithuim package could be huge as well ; drill turning in safe Nevada with their JV and they kept the other areas surrounding it 100%
The Kibby Basin lithium property is fully permitted by the state of Nevada to extract a maximum 2,896 acrefeet (944 million gallons) annually of water for brine processing and production of lithium compounds.
Obtaining a water permit for the Kibby Basin lithium project was a major milestone for Belmont where, because of the desert conditions in the region, water is of major importance to any potential mining operation. The Clayton Valley Basin for instance is overappropriated (current water rights are in excess of water volumes available for an average year) and obtaining water rights for proposed operations is a hurdle that several companies in the Clayton Valley Basin have yet to overcome, even in their advanced stage of development.
Cypress Development (TSV:CYP) recently paid $3,000,000 for a water permit in Clayton Valley (Cypress NR) which allows for the beneficial use of 1,770 acre/feet of water annually for mining, milling and domestic use
944million gallons a year vs $CYP 550million gallons a year!!
they paid $3,000,000 USD. Ours would be closer to $5miion USD. Worth more then entire cap!! Nevada ain't granting any more water licsense imo!!
This offers tremendous upside in a way 10-20x