Lion One Metals Ltd V.LIO

Lion One Drills 3.3 m of 97.46 g/t Gold

[Betteryear2]

North Vancouver, British Columbia--(Newsfile Corp. - June 12, 2024) - Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO) ("Lion One" or the "Company") is pleased to report significant new high-grade gold results from Zone 5 infill and grade control drilling at its 100% owned Tuvatu Alkaline Gold Project in Fiji.

Lion One Drills 3.3 m of 97.46 g/t Gold at Tuvatu Gold Mine in Fiji (newsfilecorp.com)

[nozzpack]

Wow that's 3.3 ounces per ton ! Everything is working out on a grand scale here ..

[Puma1back]

They better not be risking the cash balances too much with this drilling- short of finding 20 metres of solid gold these likely won't make any difference to the stock price until the markets are positive the operating income will cover expenses and then some. 

[Puma1back]

Short plug in Stockwatch - lacks the usual commentary though - too bad as curious about their musings.   ------------+++---------------++++----------   Walter Berukoff's Lion One Metals Ltd. (LIO) fell two cents to 51 cents on 372,000 shares on word it has drilled a 3.3-metre interval grading 97.46 grams of gold per tonne at Zone 5 on its Tuvatu gold project in

[Puma1back]

as evidence for the comments of the other day ---- 1) June 5th release gets an uptick of 10% to the stock as it addresses operations and shines light on progress to cash BE, something the traders don't want. 2) June 12 th release, - stock falls - sure nice numbers but no operating information and only financial implications are that they just told us they burned another $ million from the

[nozzpack]

They had $12.5 million in cash and of March 31, 6.6 million in receivables and over +$8 million in Inventory. These very high grades being drill defined will be mined over the nex 12 months en route to Zone 500 which is even higher grades. We are doing very well and on track to be mining very high grades at  higher mining rates. What else do you want..

[Puma1back]

the market wants cash flow positive proof as opposed to tapping into another financing, which the traders want because that financing would be even lower. and yes, they may have $8m in inventory, but that working capital doesn't just turn into cash. it becomes , at least hopefully, a base line inventory level so that they can turn cash positive. That  $8 m level should as 1 months