Member Info for Sq52

It’s a win win for Jim.

Loans the money and finds a decent amount of lithium, share price increase and raise to pay back.

Loans the money and low lithium find, struggle to raise, can’t pay the loan back and gets the business for a song

Sure they’ll give the directors a reprice on any remaining options to put the boot in.

Not much cash in the bank and taking a loan to pay for drilling at San Domingo?

Pivotal moment? I hope so, but given neither Jim or the senior team have been buying additional shares whilst the price remains this low…… probably not.

Cesium, that’s a curve ball I wasn’t expecting. Given it’s up there with gold in terms of price / rarity - any ideas on ppm cut off points?

I know there’s a million different variances for this, but given its near surface and with infrastructure close, I’m assuming it’s going to be relatively low?

However, I’m guessing it’s way north of where we are now given the market’s (lack of) response.

What’s this, talk of an 81 year old stepping down…? Sorry, wrong news story

Half full, half empty, it’s on the edge.

I’d hoped to see an onward push, but it’s been more of a splat, so chance to reflect why the SP hasn’t moved.

Yes, there’s clearly a tier 1 size resource at Basin. But it’s not cost effective and I don’t see any point of drilling further as all the royalty payments have been extracted, parked for a long time I expect.

Yes, San Domingo has a lot of potential, but team is tiny and resource update hasn’t been entertained (assuming it’s also tiny), drilling will suck funds and setting up a mining company…..

Yes, there’s oil and brine projects, but costs are crazy and has been left alone.

On the plus side, there’s money in the coffers and it could last for year(s) and the talk of tyre kickers made me smile / have hope.

All in all - so so.

Not really, the detail of the state of SP is built into the RNS.

Given the Basin project is based on lithium values of $22k and the short to medium forecast is around $16k, I’d say the market has valued basin right:

2.5mt x $0 = $0

Only value added is the cash payment and that was built in before the last RNS, once it became clear it would be hit.

Yes there’s no raise, but there’s not much going on.

I’d also worry about BHL trying to go alone on any projects, given there’s so few people working in BHL.

This will only add value by correct partnership or partial sale.

Does look very undervalued given the cash in the bank and the size of the resource.

But with the EOY and Basin results issued, it looks the directors / Jim Melon are buying into this just as much as everyone else i.e. not at all!

What’s this, have people been using last weeks RNS to calculate we should be well over 2.5mt of LCE, releasing the $3m payment, worth buying in now before EOM announcement.??

That’s a great holding note and doesn’t look like bad news to me.

Top clay layer should take us close to 2.5mt, bottom clay layer and confirmation of continuation well past the 2.5mt.

Hints of the clay continuing well North of what will become ‘Old Basin North’ is also welcome.

Next target - 4mt??

Bad News - not hit target and coming up with plan b on how to hit the difference (it’s still open and if it is a miss, can’t see it being by much)

Or

Good news - targets hit and they’re in talks with LRC before publishing RNS (same as they did in 2023 and the 1mt)

Is your glass half full or half empty?

Ok, Iooking correct.

Ian confirmed final results received on the 1st of June and would be processed quickly in house, with coms already in place with LRC.

Here we are now on the 12th of June…….?

No shares bought in a long time and who would want to with the crash in lithium price.

But directors buying (or selling!) now? Pretty sure that would be insider trading with the 2.5mt announcement on the cards.

After that and with the share price this low, I’d take the woof woof if there’s no further buy in

Nice interview and some clear direction on next 12 months.

Seemed very confident about hitting 2.5mt at Basin and this funding the next 12 months, just need the RNS.

Also, great to hear the USA gov talks are still ongoing and the potential of a small / simple open pit, crush / gravity mine at San Domingo funding drilling campaigns.

Thought we’d have seen an RNS about Basin (unless one comes soon!), Ian will now have to do today’s interview knowing what the Basin result is, without spilling the beans - going to be an interesting interview.

Early June is here and webinar is on Wednesday, here’s hoping to a continuation and thickening of the 1200ppm+ layer, a positive RNS with 2.5mt confirmed and a clear path for shareholder value - and who knows, a price rise and board member buy in wouldn’t go a miss either!

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?

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.

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.