Member Info for BorderBob

For those interested in paying attention to detail, what he means by "Correciton" is "Correction." The reason it's important to know this is BLM is that it likely falls under their "small disturbance" exception, where less than five acres (three hectares) are affected. The claim, of course, covers more ground than that, but each drill hole needs only 1/6 of an acre, so the total was laid out to meet the requirement. No environmental assessment needed, just a guarantee that the holes will be filled back in once the sample is removed.
On the other hand, drilling on state land, or private property, can often be less complicated. That's why people who don't care, should learn more about what's relevant.

Based on what the RNS says it should be late July. "Drilling is expected to commence as soon as the bond payment has been received, usually in no more than 30 days."

Had to do a web search to confirm that this was BLM approving the plan. BH is certainly having better luck with them, than AZL achieves these days. But why leave out that detail and rely on passive voice? Probably same reason the website can't spell the name of the nearest town, Wickenburg. No one is interested in paying attention to detail.

VW stopped taking orders because of chip shortages. Should I start looking for sand miners?
I don't understand the connection between Bill Gates leaving Microsoft to start a foundation that works on vaccine research, but maybe the point is that wandering minds think alike. He left his wife, too. Buffett can't keep up with the S&P 500 but his sidekick Munger makes a fool of himself dabbling in architecture. They'll both be dead before the other BH invests in speculative mining projects.

Watch what he does, not what he says. His focus is on everything but EV production these days. The premier US project is the Salton Sea, where other manufacturers have the inside track. Meanwhile, Tesla will run out of other metals before it has to deal with a lithium shortage.

It's been months since the drilling at Basin East, and results were expected in Q1. How long is this going to take?

I'm trying to think of any working mine in Arizona on land that is NOT company owned. Including one of the world's largest copper mines, just a short distance from the BHL claims. Some of them might have been on government land at one time, but "patented" (deed issued to the miner) before mining commenced. However, patents have not been issued since 1994. You can work the land, you just can't own it. And for now, you don't have to pay royalties on lithium, unlike other minerals and hydrocarbons. But that could change.
For those who choose not to continue wallowing in ignorance, one of the selling points for BHL is that some of its claims are on state (of Arizona) land, not on federal (United States) land. I would imagine that if you're investing in a British venture, you would want to know whether it is on Crown Estate or British Council land. But maybe not. All I know is how mining claims are administered in Arizona. And even when you know who owns the land, you have to figure out who controls the water.

It's mediocre because you must read to the very end for a hint about the source of the approval. But then, mentioning the Bureau of Land Management is a reminder that BHL doesn't own the land, they just pay fees to stake it out and explore it. Drilling holes is allowed as long as you promise to fill them back in, and put money down to assure it's done. Getting permission to drill a small number of holes is about as easy as getting permission to use the bathroom when visiting other public facilities.
To get enough drilling results to attract major financing, enough holes will need to be drilled to require BLM to do an environmental assessment, and that process could get bogged down in the same issues as BHL's neighbor AZL has been up against for nearly three years. And of course, permission to drill and fill is not an indication that permission to mine would eventually be granted. And, if so, that an open pit would not also have to be filled when done, as is the case in Nevada with Thacker Pass.

ZNWD problems include a wartime economy and a crashing euro. Advertising flow is a sign that nothing is happening. Wake me up when BHL has any news.

Is it really an interview when both microphones and cameras are controlled by the same people?
Just a convenience for dyslexic investors.

I think you get their attention through Twitter. But it helps to have some lithium to sell.

How many new shares did they have to sell to themselves at a discount to pay for that one?

This is management's way of admitting that the stock is overvalued and the company is undercapitalized. Their honesty may lead to an increase in the share price -- that's what happened when Bradda's Wikieup neighbor AZL recently paid the 6% commission required to sell discounted shares to foreign investors. Where does this fantasy, "American investors are clearly on board," come from? BHL is honest about Red Cloud being a Canadian broker. (Compare that to BCN, which hid it by calling them "North American.") In the geographic shell game, we can be fairly sure now that the new money is not in rubles, but I would still look for the yuan.

Lithium in exhausted batteries can be recycled, and so can stories about Elon Musk and his promise to extract lithium from clay using table salt. For those with short memories, Musk said on Battery Day in 2020 that Tesla was looking at starting up its own mine in Nevada. It was reported that a deal with Cypress fell through, so he had "acquired" 10,000 acres in Nevada -- exact location still unknown, but probably 50 BLM claims under an anonymous LLC (which is allowed in Nevada). It's bad news for BHL if he wants to mine his own at new locations. Competitors will follow, as GM seems to be doing at Salton Sea already. He got a patent on his "new" chemical procedure last July, but like every other clay system it hasn't moved out of the lab.

What do you mean feasibility? I thought 10X meant it was already a sure thing.

The loans that were announced more than a year ago? Miners need to be in production or close to it -- and at that point, more than enough money is available from private investors (including the Chinese, as with LAC). The battery-metals market is cooling off now that people realize last week's press release was more of the same, calling for studies and committes and analysis, blah, blah, blah. The actions being contemplated wouldn’t be loans or direct purchases of minerals, but rather funding studies and the expansion or modernization of new and existing sites.

If wishes were horses then beggars would ride.

While I am critical of those expressing irrational exuberance about high-risk ventures, I am also attacked by those who think Bradda's neighbor at Wikieup is superior. Those Australians can be much more aggressive, insisting that Bradda test results are no better than what I would find in my backyard. (How do I change my name here to Backyard Bob?) I am hoping for data from drilling, not just surface scrapings, so I will have some numbers for a counter-attack.

I just noticed BCN issued its 2021 annual report on February 28, 2022, signed by CEO Peter Secker. They now predict start of production by 2H 2024, a year later than the earlier estimate of 2H 2023.
https://bacanoralithium.com/_userfiles/pages/files/documents/bcn_annual_report_2021.pdf

@ Fozdog Hope you're not comparing Berk with Bradda. Buffett's aging conglomerate is behind the S&P 500 in the past five years, 13.3% annualized against 14.9% for the index.
The most important thing to remember about Basis East is that it's state land, with no messing around required with the federal BLM. It might have the least attractive locations to drill, but it's easier to get permission. The results from Wikieup will be even more inconclusive than these, because the sample size will be even smaller.

Share price down 5%. Buu on rumor, sell on news.