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“If you can’t spot the sucker within the first half hour
at the table then get up, because you are the sucker.”
Attributed to Amarillo Slim Preston
My stars, Lithium X (LIX.v) is dropping back on low volumes already! That didn't take long. Follow the bouncing ball, people:
1) Specs buy on news that Frank Giustra has flown out a bunch of newsletter sycophants and the shady end of the Vancouver promoter world to the LIX property on his private jet, the ones who'd sell their mother at the right price. And what happens in Las Vegas stays in Las Vegas, right Tommy?
2) Keith Schaefer publishes his whore-piece, pumping LIX in an article that Frank Giustra paid a fat fee for. You suckers buy in, Keith banks his cheque.
3) Insiders, "friends and family", early specs sell you suckers their shares.
4) All suddenly goes quiet.
Meanwhile in the background your humble scribe has been receiving very interesting mails on the subject of LIX and the whole Clayton Valley promo BS. Those people who know what they're talking about on Li (a group that most definitely does not include Schaefer, Giusta or you, LIX long) are laughing hard at the whole thing. The area play is a bust, the economics of Li projects there don't stand a chance against the real players (look to Chile first, then perhaps other places such as Argentina) and when LIX brings out their "oh but we got special patented technology!" argument real techs have had difficulty in stifling their giggles. And then there's the concession costs in NV, crazyhigh prohibitive. And then there's the amount of activity in the whole valley, i.e. one drill program going on, virtually nothing.
This whole thing is a pumphouse bullshit play, more obvious impossible, stone soup served for one and all. You have been warned.