Red Dirt Metals Limited (ASX:RDT) - The Making of a Major Australian Lithium Mining Player.
Coffee with Samso Episode 155 is with Matthew Boyes, Managing Director of Red Dirt Metals Limited (ASX: RDT).
This is an episode where we are potentially looking at the makings of a major lithium miner as Matt Boyes talks about the acquisition of the Yinnetherra Lithium project. I see this move by Red Dirt as an expansion to make them the lithium version of Norther Star Resources Limited.
The analogy I am trying to make is to highlight that Red Dirt is making strategic moves to expand the company from its Mt Ida project. The lithium sector may not be as numerous as the gold sector which makes this acquisition even more important and valuable to shareholders of the company.
Check out the Coffee with Samso:
Check out the Rooster Talk:
Since the acquisition of the Mt Ida project in September 2021 (Mt Ida Acquisition, Capital Raise and Presentation), the company is fast becoming a major player in this lucrative sector. The company completed the transaction on 24th September 2021 (Completion of Mt Ida Acquisition).
There are not too many aspiring lithium miners at this stage. Liontown Resources Limited (ASX: LTR) will get to the stage first. Red Dirt is probably 2.5 years from that stage, according to Matt. At this moment, I see the difference in potential is that if Yinnetherra is a promising as Red Dirt thinks, this would make the company stand out from the crowd.
The other aspect of Red Dirt is the gold potential. I know that this is not valued at the moment. There is also some way before we can figure out if this will become a credit or not , in terms of the mining process. However, if that is sorted out, the credit input at the mining stage could make Mt Ida the cheapest lithium miner in the world.
For those investors who have been around for a long time, they will know very well that the credit input factor is a game changer.
Spare some time, listen to the episode and use the information as part of your DYOR process.
Chapters:
00:00 Start
00:20 Introduction
01:27 Background about the new acquisition
04:39 Are Mt. Ida and Yinnetharra similar?
06:12 How is the drilling at Yinnetharra?
08:26 Fund raising?
09:33 Ground access
10:36 What is the attraction of the project?
11:24 What is happening at Mt Ida?
16:41 David Flanagan joining the board
19:37 Potentials in Mt Ida
21:14 Mt Ida exploration news
22:00 Possibility of gold?
26:48 News flow
27:35 Why RDT?
28:37 Lithium version of Northern Star?
30:23 Conclusion