Another junior explorer which is getting hammered in this latest round of sell offs.

Nothing has changed from in the last 3 months with no new material announcements, but the share price has taken a beating this week.

Small parcels being sold into weakness could be a falling knife scenario?

What I like:

• Strong ownership from founder and directors
• Big investment from Tribeca
• $5m + cash in the bank with a MC of circa $12m
• The drill bit is going with results due imminently. This could be the reason the SP is a bit off with a leaky ship?

The below is from the Feb 17th Investor Presentation

This is a little junior I've had a piece of for a few years.

The chairperson - Rita - basically has put all her best assets into a company, raised some extra funds via an IPO and started further exploration works.

A couple of years of volatility and lack of direction following lithium mania and what seemed to be a penchant for accumulating extra tenements and a revolving door of CEO's, things seemed to have settled down into a regular rhythm.

Appointed Terry Topping as CEO - from all accounts is going really well.

Director Bill Marmion - one of Rita's neighbours- was a State Minister and was in charge of the Dept. Mines et al.

Rita's been good at getting government funds to assist with exploration work and has also finally managed to get a clear path and strategy for taking the assets into the future.

It's been down in the dumps for a while and is back climbing as buyers have been piling in. From a CR at 0.02 to now touching 0.05.

Tightly held and could run hard if it works...