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No doom and gloom just realism , I won't be selling as I am optimistic but I need to be realistic about the costs and cash implications , it is after all my money.... So tlc

Add back in $416k cash at close Dec'16 so circa £500k free cash left before anything else comes out, its not going to get you much in terms of decent rights purchases and costs to fund the exploration to valuation stage

Deduct $800k for salaries and social security costs , $200k for current lithium projects (purchase not including exploration costs ), circa $300k of admin costs , so $1.3m say at 1.32 forex so say £1m running costs leaving £200k at most, you following me ....?

I agree that they are looking for acquisitions what I am saying is that they will need cash to pay for these acquisitions via a fund raise , the carrot is the acquisitions then comes the "stick" to raise funds at below current SP, which is why they need the SP to rise now with these results to make it more palatable

Why do you ask that? of course they did the drilling ...

I fear the paragraph contains the proverbial carrot

Hi tomshare , ok sorry I misunderstood you, however , I doubt that they have the funds available , they still have their salaries and payment schedules due for the lithium rights they have already , so they will need to raise more cash, perhaps the high earners could buy some shares and raise capital .... They are feathering their own caps first after all

**** have nothing to gain by selling ****

I would have thought that people in Mexico may be focused on more important matters to them right now. As for acquisition I very very much doubt that, it's not a huge site and the grades whilst perhaps going to be ok to good , I doubt will be spectacular, perspective and realism needed it will possibly be big for us but not an acquisition target , plus most importantly the directors have gain nothing by selling

Currently suffering at the hands of natural disasters across the world.

out one of the MMs on the BID to the rest of them...

On target, I agree, if there is not more than £2m of value in the lithium pa here then I will be amazed. All you have to do is solar evaporate it in ponds and you have lithium , its so low cost, high margin it's remarkable ! Circa 18-24months you have the lithium separated and recurring income coming in . I say £2m just as a finger in air ! Whatever it is the cost is low and they will get income to use elsewhere in the company . Now use a sensible multiple for income to mcap and apply to SP...

Anyone going ?,

Also, as far as I know our initial find was purely at the surface , hence why we are going deeper, at potential higher ppms , the first ones were not too bad overall

Lithium has not just magically appeared, it is there that is for sure, just how much and at what concentrate. salar brine alot lower cost to bring to market basically though solar evaporation.

Sweepie2, http://www.bgs.ac.uk/downloads/start.cfm?id=3100

in edge ways here today ! :)

brine deposits https://books.google.co.uk/books?id=NJHmCQAAQBAJ&pg=PA515&lpg=PA515&dq=does+lithium+in+brine+sink+or+float&source=bl&ots=9lCIpRhMSd&sig=hQ-TgwYDsytmBz7LcPP-Ebw5HW8&hl=en&sa=X&ved=0ahUKEwiU66rgv5XWAhXBuBoKHf8oCPwQ6AEIOTAC#v=onepage&q=does%20lithium%20in%20brine%20sink%20or%20float&f=false

Knicol, agree, I can only see that they can move this up to get some volume movement, a small pot of shares, held closely by most expecting good news and willing to wait for the news, they are going to have to jump this up to get movement

yeh , cheeky MMs all buys and they drop the price.... I really do hope we get a TR1 notifying significant holding from a director...