Sokoman Minerals Corp V.SIC

SIC's Current State

[AlwaysLong683]

Took a look at SIC's Press Release dated May 18 2023.

New information contained in the press release:

- 1,400 m in ten holes have been completed on the 50/50 Golden Hope Joint Venture (GHJV) targeting lithium and other critical metals. 

- plans to mobilize a second diamond drill to test the Hydra (cesium/lithium/tantalum) target 10 km northeast of the Killick Dyke. 

- received the first batch of soil sampling results from the Hydra area

It's good that SIC is keeping investors updated on such activities, but doesn't appear any new assay results at any of the sites were reported and things still seem to be moving at a snail's pace, similar to other Newfoundland explorers that have limited access to say, a single assay lab (does SIC use more than one lab?).

Bottom line in my view re. SIC's many land packages: One or more of them has to show that it can (or is very likely to) be profitably mineable with a decent margin of safety before a suitor will consider buying SIC. If not, the drilling / assaying money spent will be for not and those site(s) will be considered moose pasture. This goes for the Mooosehead gold property, the Kraken lithium property, as well as any and all other potential mine sites at SIC, or any other exploration company for that matter, so I'd be careful in thinking SIC's share price can't go any lower and stay lower in the future.

For those not very familiar with lithium mining, SIC's / BEX's joint-venture Kraken property contains hard rock pegmatite lithium. This is different from the more common brine lithium deposits. 

For those interested, an article from inevestingnews.com provides some information on hard-rock lithium finds.

Here's an excerpt:

"Extracting pegmatite lithium from hard-rock ore is expensive, meaning that such deposits are arguably at a disadvantage compared to brine deposits. However, pegmatite lithium deposits have considerably higher lithium concentrations than brines, so deposits with extremely high lithium values may still be economically viable. The production of other metals, such as tin and tantalum, can also help offset costs."