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clock Created with Sketch. 06/04/18
15:37
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Originally posted by aes411
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For me I wasn't impressed after initially reading this announcement and was wondering why a trading halt was even called. With the GB2 experience, I was expecting nothing short of a report of economic lithium grades as an acceptable reason for calling a trading halt. I even suspected the halt was called to hype up the price to create an exit for a large holder or as a precursor for a new capital raise.as a sign of confidence they'd finally struck the right artesian aquifer. Obviously they'd collected / attempted to collect samples from 6 clastic zones (4 at GB2 and zones 33 and 31 at CC32) before 29 at CC32, but there was something magical and very different about zone 29 at CC32 - high pressure and excellent flows, clarity of the brine (no oil contamination), which seemed to match the experience explorers had in the '60s. Bearing in mind they've never commented in detail on flow rates for other zones, they must have had a "this-is-it" moment with celebrations and anticipated the SP might shoot up and therefore decided to call a halt.
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Good outlook, I'm closely watching to decide whether I want to bring my average down on my holdings after buying into the hype or just take the loss. As long as management prove some integrity with their announcements I will continually hold for now.
