LEXG - It is a curious thing that First Lithium doesn't mention any of these option agreements on their website or in their filings. Obviously they wouldn't option the properties away in the first place if they thought they were attractive properties.
1manband did some excellent research into some of the property claims
In all seriousness, I think everybody knows that LEXG is nothing but a money play. I doubt too many people investing in the stock are doing so because they really think that these property claims will ever amount to any kind of significant mining activities.
1manband showed pretty convincingly that LEXG is exaggerating (by a great deal) the mineral assets available at these properties.
Fact is that LEXG doesn't have the money to make the lease payments let alone do any serious mining and if the properties did have the potential to be profitable they never would have been passed on in the first place or at the very least would have been snatched up by a real well established mining company with significant cash resources.
It may be possible that LEXG could now come up with some financing to make the lease payments for quite some time thanks to the huge escalation in the PPS, or they could sell some shares into the market to raise the capital, but either way I don't believe the properties have enough lithium or other minerals to be profitable to mine. Their only real use is probably for promotional purposes.
I don't know when this pump will end. At some point the insiders and/or promoters will end the park order they have on their shares and the sell order will be given. I have little doubt that Walsh is just a front man and there are other people who are running the show and pulling his strings. I doubt he is even involved in writing the press releases. I also think that the insiders really running the show may have some involvement in the promotions.
I think they did too good of a job manipulating the price up. Drew too much attention to the stock and too much attention for a dirty penny stock is never a good thing.
It'll be interesting to see when the wheels come off and just how big of a wreck LEXG becomes. Will it end with people wearing orange jumpsuits?
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