Member Info for CHRI5P

Up 10% at the start, the train has left the station

Sell off

This lithium discovery had no value in the SP. This is another asset to potential sell of for a fortune with limited drilling. My 12p is a conservative valuation.

My target price is 12p not 2p

This is fantastic news and even if the SP does not move this morning it should multiply over the next 6 months.

It is my opinion that Denarius will not lend EMI anymore more money until the ML is agreed because without it Option 1 is not worth completing for Denarius and EMI is worthless but it looks like the application will be made in time.

You said it BricksSA 'limited knowledge'

Denarius currently own zero % of EMI and they do not complete option 1 they still will have zero %. Denarius will wait to lend the outstanding $2. 2 million to EMI until the ML is agreed next year to do more exploration on Toral. If they do not fund the full $4 million to be spent by EMI they will own zero of EMI. I hope they can raise the money but if they do not EMI will have the ML who would be 100% owned by EUZ. BricksSA for crying out loud read RNS's it is all there.

Absolutely not wishing for it but making a point that Denarius need to raise the next $2.2 million and they would have already given us $1.8 million and we will have hopefully a mining licence with more resources especially silver.

I am so grateful Denarius raised a load of money at the beginning of the year. Thier SP is now struggling. If Denarius can't raise more to fund Option 1 we keep 100% of EMI. All the risk is with Denarius.

I would of thought we would only need an RNS if the transaction did not go ahead because that is a material change.

A very good update. Shed I suspect with all the confirmation drills going very well they might be going for an even deeper one. The company went for the 31st July for the MLA knowing the 3 year end of the exploration licence is still over 3 months off. The RNS should please Denarius and the JV is looking to continue and hopefully we will have a PEA on a much larger JORC.

CB will sell all the licences on the Kalihari because he knows that the cost of proving up with all that sand is massive. You only have to look at KAV who have spent millions on 4 failed drilling campagnes to understand. CB is all over this and as made sure we don't spend huge sums on missing the targets.

Depending on the results CB might force the sale of pl253. If CB decides to sell.that licence SFR might have to pay a couple of million to buy it?

We have a RNS saying the MLA is going in so do we need one to say it is in. Maybe an operational RNS is required. If it is not in then IMO we should already have had a RNS

Shed I don't know when the PEA will be completed. Denarius could have easily done one for the MLA on the old data and it would have been RNS'd but this would be out of date considering the £4 million we have to spend mainly on Toral over the next 3 years. I think a podcast from Myles is required to fill in the gaps concerning the PEA/MLA. All we definitely know is a PEA is part of option 1.

I would rather fill my boots before a rerating RNS than after.

My timetable shed:

Confirmation drilling started and MLA in

Confirmation drilling results RNS'd

MLA agreed

More drilling on Toral to increase the block and applying for an exploration license for Antonina

PEA done for Toral - the later the better if not being used for the MLA

£4 million spent, MLA agreed and PEA done

Option 1 complete

That makes sense Shed and the PEA would be on the new drilling data. We now are waiting for more drilling results and an extension to the area.

Hopefully not back to the old days. We can all have opinions and speculate on the RNS's which I might be quilty of but completely disingenuous comments need to be put straight.

I am now thinking that we would only get an RNS on the MLA if it was not applied for in time because that would be material difference to a previous RNS so I am thinking it has been submitted. However, what about the PEA? It might be that the MLA can be submitted but can't be agreed without the PEA which will follow. All we have is the RNS's and a material change of one IMO would require a new RNS.

BricksSA sorry for the comparison it was a bit below the belt. No one could be so bitter.