Overall how does the sampling on the Kachi project, in my opinion it looks fairly average, the grades are on the low end and the magnesium levels are not super low.
I have heard before from another MD with brine plays that what you sample at surface you can expect levels will be much higher in lithium below, is this correct information? does it apply to this project? good question for management.
I still see this Kachi project as a fair shot a few positives are to be found, LKE own the rights to the whole lake 100% no sharing what we find, the last sampling announcement contained this note “Central parts of the salt lakes, where better results are usually expected, were not able to be sampled due to unseasonable rainfall in the past month.” so possible we could have seen better sampling if conditions allowed.
Sampling is sampling I have seen the best sampling turn up nothing ICG and the most innocuous sampling MOD turn up golden, It’s an undrilled green fields brine play, considering the Mcap and that they have such a good play sitting in their back pockets in the Olaroz Cauchari Project I am happy to buy and currently holding a small initial parcel.
My buy price was 3.9 cents, but before permits I think upto 4.5cents which puts it alittle over a $9mill cap is still very cheap in my book considering the land they are holding, if the permits start to roll in and it drills well we could easily see 10cents+.
Additional information they have done a great summary in their quarterly below, I see they say fully funded, I once saw ICG say “fully funded” and then saw 6 separate cap raises go through before a drill hit the ground, LKE I give them my trust, but actions not words will show if they are honest people on this front or not.