Liberty One Lithium (LBY.V) has commenced its drill program at the Pocitos West lithium property which it optioned from Millennial Lithium (ML.V). The start of the drill program comes just weeks after securing all necessary permits, indicating Liberty One has done its homework very well and was able to quickly act on receiving those permits.
The waiting game is now on, and Liberty One expects to receive a first comprehensive report ‘within 8 weeks’, indicating we could expect 2018 to start with a lot of news flow as that first report will be the basis to determine the exploration program for 2018 and beyond. Keep in mind Liberty One has received the permits to drill 11 holes, so once it has been able to analyze and interpret the findings of the first hole, there’s nothing stopping the company from completing the additional 10 holes. With C$9M in cash on the bank, Liberty One is in an excellent shape and doesn’t need to return to the markets anytime soon, unless it wants to take advantage of its current share price to top up its treasury for the years to come.
Indeed, August and September were calm, but since October, the renewed interest in lithium projects has sent Liberty’s share price soaring. This has cost the company a ‘speeding ticket’ from the OTC Markets which requested additional information. Even though Liberty One’s volumes were indeed very high, it’s important to note most lithium companies have enjoyed a great run: