Almonty Industries Inc T.AII

Significant Maiden Molybdenum Resource Defined Adjacent to..

[QuarterDollar]

• Well ain't that nice !!!!

[chizzles]

 I just checked Almonty on the ASX to see the reaction to the news, and there wasn't a NR yet, but there was a trade halt! First time I see that on the ASX for a News Release. The reaction once the halt is lifted can be interesting!

[chizzles]

The securities of Almonty Industries Inc (‘AII’) will be placed in trading halt at the request of AII, pending it releasing an announcement. Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of the commencement of normal trading on Thursday, 21 July 2022 or when the announcement is released to the market.

[blueskies]

I'll be the first to admit I don't know much about molybdenum mines as I haven't invested in one before and don't know the comparables well. I'm glad to see an update and the initial resource. From a quick look at other mines out there this seems to be relatively small to start with a high grade but that's okay I think for two reasons. 1. This is based on a review of

[5ilverlining808]

ASX Trading Halt Rules :- https://www.asx.com.au/documents/rules/gn16_trading_halts.pdf https://www.asx.com.au/documents/rules/Chapter17.pdf

[QuarterDollar]

Exactly !!!......more drilling will need to be done to determine the size of the resource. But just like the LOI for the $50M for the downstream plant, it is a strong message to get communications initiated to expedite the rollout of the Moly Mine.  One of LB's primary goals is to reduce or control costs and one way to do that is to leverage existing infrastructure for both mines.

[5ilverlining808]

Beat me by 4 minutea lol.

[5ilverlining808]

From blueskies :- "1. This is based on a review of older drilling data and it will likely grow once new exploratory drilling is done and the infill drilling better targets the higher grade rock." My comment :- Spot on there, and all the "old" data still holds value even if it is on a spreadsheet, instead of physical core samples in storage. Infill drills will better a 3D

[hemiman]

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