Post by
ridethewinners on Dec 28, 2024 12:20pm
re re mining
I doubt if the mining.com article is fake as well, but it may not be as significant as it looks.
According to the article this is a Letter of Intent, subject to a lot of conditions, which may not be as easy as a rubber stamp to get. At the end of the process this is a loan, not a grant as I read it.
I am a little disappointed that FL has not announced something like this, but then I look at the $5 million grant they got for hydro to the property, and a $2 million? ish grant last year to advance the processing of lithium, and they are getting some help along the way, and they do not have to pay it back.
It is also comforting that a lower grade, smaller tonnage project is considered viable. PMET is now a much larger ore deposit than FL, and they are still drilling, that has concerned me, but the Seymour Lake news is net positive.
What is lacking here is a conversation with management on the process going forward, some clarity on the short term deliverables.
The start of insider buying has given me reason to not bail as early as I was planning. Some better IR and a show of respect for the shareholder partners they have should be the next step.
All in all I think they have ended the year a bit more positive than I had expected.
We all need some help from the lithium price, some stability on the EV market going forward.
Best of luck