SOUTHERN LITHIUM CORP V.SNL

Why the big drop last 2 days ?

[DrWealth]

ANy thoughts as to why we have a massive sell of in the last 2 days - is it only because  of the private placement or is it motsly shorts trying to ocver before they prove up the cruz prop. Im very bullish on this stock as they should prove up smiliar lithium as ady resources did on the north side of the volcano.. anythoughts ?

[supersceptic]

Practically impossible to say. Shorts are unlikely. I do not think there are even many of them, it is secondary stock. This is very speculation prone company. It has project with 0% of anything, but can find something...If any kind of certainity existed, ADY resources that developing North part would claim South already. Until drills results we can get used to it goes up, intil 40c or down until

[DrWealth]

not sure why Ady did nt scoop it up.. must be a reason. The testing done on the south side showed similar geology and consistent high conductivity. Volcanos are known to not only have high amounts of lithium but also make it easier to mine due to the Brine... it logically makes sense for the south side to have a smiliar amount of lithium as the north side. Property is about 70% smaller then the

[supersceptic]

That's often happen. Ady found good project and focused on it. ORL could scoop entire Gauchari salar, they were first, but LAC picked southern part.... SQM could claim entire Atacama they were there decades before, but Albermarle also cut chunk for themselves just few years ago. Question remains, I think they did not bother because of the size - 30% increase in size and 100% more headaches

[DrWealth]

Good post bud!! I think its a gamble worth taking - south side is only about 30% smaller than north side. You said it right.. thats a gold mine area.. and the Volcano is known to be heavy on lithium.  They will find lithium question is .. how much, and how easy it is to mine... my main concern is that the definitive agreement has a lot of moving parts for snl to evne increase ownership to 80

[Mackoo]

Great to have some conversations going on SNL again. I bought back in yesterday at $0.21. 400k shares. Should have waited a few more hours and paid $0.195 but I'm not worried. We should see a bottom here and then it should start rising slowly again. The trigger for me was the news release on the financing. They raised more than $1M in less than 3 weeks with drilling underway and shares locked

[DrWealth]

Wow you are in big!! its good to talk to a soon to be millionaire :)  - it hasbeen dead quiet here.. When I called investor relations the other dayI was told that they still need some more funds to fully complete the transaction and that they have a reserve of cash that they need to pay Millennial .  Said they are god with cash to follow through..  Good to know you posted that Ady

[Mackoo]

I also find it very positive that they intended to drill to a minimum of 250 metres (and deeper based on drilling condition and brine content) and ended up drilling 476 metres in the end.  Here is the link to the Chris Parry article. Many have probably forgotten about this one by now.  https://equity.guru/2016/11/22/southern-lithium-snl-v-the-other-side-of-the-volcano/

[supersceptic]

2 biggest conditions are $2M to Millenium. The rest are to force SNL work intensively. If they want to do anything valuable and  find partner or sell, they will have to go through DFS, to go through DFS, they will have no choice, but spend 2-3M/year. These conditions are in our interests too (exept payments and shares to Millenium), but that is also no choice, Millenium is not a charity to