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Would like to think my estimate on the conservative side:
Gone for a low clay / sandstone SG to get the 2mt per cubic meter (I’d say this is largest factor of error)
An average thickness of 85m based on the last RNS
Ppm was tracking higher the further north travelled, so 1000ppm seems right (might be low)
Should easily clear 1.5mt of additional resource (with maybe 10% in back pocket for lower clays), clearing 2.5mt total.
Would be really nice to get clear direction from Ian / BHL crew on what the next steps are, future direction, wise spending of the $3m and how to return shareholder value on the webinar, not much I know.
Ultimately (and why share price is low) is a raise needed before next phase or do we have some real value in the ground?
I agree SQ, it’s smacks of confidence at the visuals and expected numbers , might even surpass your estimate 😁
Results expected for Basin early June.
Webinar booked with Red Cloud on the 5th of June.
Would like to think that’s been done deliberately to shout about results, cash payment and what the future looks like or why would you book it / RNS it?
Can’t see it’s been done like this before at BHL and so close to results, heads up to existing shareholders?
To put my mind at ease, running some rough numbers on a bank holiday Monday for Basin.
1780m length
900m wide
85m (average)
136,170,000m3 in size
Assuming 2t per m3 (probably the biggest factor of error)
272,340,000 t
1000ppm average = 0.1%
272,340t lithium
Conversion to LCE x 5.323
Gives 1.45mt LCE
Number of assumptions in there, so you’ll need to factor in risk for each part
Note: low clays not factored in, so a bit more wiggle in there, hence why I suspect the added the extra drill hole at the end.
Probably wrong and feel free to comment / correct, just thought I’d share.
Get what your saying SQ and you make a lot of valid points, only caveat in my opinion is, as the worlds 4th largest importer of Li the US is getting very conscious of the need for resilience and it’s that , that might stand BHl in good stead. The current/ future political landscape may well decide which way this heads
Volumes traded are tiny, nobody buying into it and not really a reason to as nothing new.
Whilst 2.5mt+ at Basin is a big find (assuming it gets over the line) is it viable in the current market or future markets?
Whilst it’s open to the north and west, is there any point expanding when the market clearly doesn’t value it?
When you look at the gravity model and a potential JV with neighbours, could easily be 4mt+, but if it’s not viable and there’s no clear direction with longer term plans of basin - what’s the point?
Then finally, Jim has been saying for months that now is the time to buy lithium / shares, and how many have the senior team added?
Still in, but a hold for my liking.
To be fair the actual price never really changed up or down yesterday or today just the bid and ask moved around a little bit.
I'm a bit worried we do get the next payment of $3m as last time we got news of $2.5m paid the SP dropped within a month from 2.5p to 1.6p
And the share price goes down over 5% the day after !! What a dog.
Let’s hope so…bought £10k at 13 average so a lot of work to do to recoup but holding firm…fingers crossed people!
SUPER POSITIVE RNS.
So awaiting the geochemical results that they visually believe will support the MRE expansion from 1.08 MT to over 2.5 MT of LCE. Expectations must be high
Ive recently bought in here too as valuations just seem far too cheap. Given ultra-low market cap perhaps good news takes a while to filter through given lack of involvement of institutional players. Perhaps others who are involved in companies of this size could chime in as to the zero response of the share price in recent weeks?
Good looking drill results and plans, thickest clays in Basin north are now roughly 3 x times Basin East and still open North and West .This seems to be on nobodies radar, considering they are now very likely to add nearly half the MC in cash to the balance sheet next month and with the cash from the fraud case that is £2.5M and not even a blip on the SP , still just above 52 week low ???
Another 240k back in the bank at least. By my calculations based on previous campaigns I’m expecting MRE on week commencing 10th June. They do seem to be keeping this drill campaign cards close to their chest ?
According to Bradda Dead Lithium , the drilling programme should be finished in "early May" with an update in "early June" after the assays have been completed. Let's hope that the share price of this dog will rise thereafter so that all PI's can recoup their losses.
Must be about due the end of basin update with final three holes and visual details of Clay thickness?
Great results from drilling with furthest away holes showing expected thickness as per gravity map, another sensible drill hole planned to expand lower clay and clay shallower than expected.
Game on for 2.5mt+
That's actually quite a conservative ramp! I think that kind of recovery is realistic in the near term.
The lithium price is still going up and more will come here.
Can see this making a small recovery back to about 3p. Then if it passed the 2.5mt LCE which the new commander seems confident about then with the $3M royalty I can see this sitting at about 5p again.
Then when both the projects advance later this year back over 10p.
Who knows could announce an offtake with a big company in the US too out the blue. Piedmont? Tesla? To name a few....
More great shallow grades from San Domingo, one of the easiest methods of extraction.
Basin showing really good promise, holes stepping out as expected and showing similar thickness of upper clay zone. Obviously, can’t tell what order they’ve been done in, but it’ll be at least 750m further than last resource + lower clay looks to be continuing (all be it at a likely lower lithium content based on prior holes).
Can’t see anything moving much until 2.5mt proved (or not).
I'm in. Get the feeling this won't stay this low for long.
These are some very good grades today and with a resource increase coming at the other project along with a hefty royalty payment I like the upside from here.
Time to share your thoughts.
The results included 5.00m of 2.33%, 4.10m of 2.81%, and 4.00m of 1.26% Li2O at the White Ridge Target and 5.30m of 1.25% Li2O at Morning Star.
“ We believe that these high-grade samples bode extremely well for the potential of the asset in its entirety, and reaffirms favourable results from both previous sampling undertaken by Bradda, as well as the historic sampling”
You need to overlay the 14th of Feb RNS with the 12th of March RNS. Massive potential, with majority being inside BHL claim.