Updated: Apr 13
✦ Matthew Boyes, Managing Director of Red Dirt Metals Limited (ASX: RDT) shares the story of Mt Ida.
Hitting pay dirt takes on new meaning with their Mt Ida acquisition in September 2021.
Mr Boyes shared with Noel the direction the company was on at that point. That first conversation revolved around the company's attempts to drill and increase the value of an old historical gold mine, and Mr Boyes explained the ins and outs of mineral exploration.
As exploration essentially requires time, the value adding process is slow but worth following. So it is always interesting to have thought leaders return for a new conversation and see where the company is at now.
Today, Noel and Mr Boyes catch up on the developments of the company under its new name. A whole rebranding process has taken place and the company is now busy developing a Lithium project.
Red Dirt Metals Limited acquired the Mt Ida project in September 2021 (Mt Ida Acquisition, Capital Raise and Presentation) and completed the transaction on 24th September 2021 (Completion of Mt Ida Acquisition).
The Mt Ida story is one we want insights to, simply because the movement in share price and market capitalisation have been remarkable. During this recent period, it has a value of AUD212M, which, according to Mr Boyes, is somewhat undervalued.
Does this all ring a bell? Perhaps the Mt Holland story comes to mind, but as is often said in this industry, only time will tell.
Will the Mt Ida lithium story bring happy fortunes for shareholders of Red Dirt Metal?
Tune in to insights with Matthew Boyes here:
01:07 The Mt Ida Story
05:28 What kind of grade does hard rock lithium project need in relation to Red Dirt?
08:36 Advantages of drilling for pegmatites.
10:19 How much of the project has been drilled?
12:22 Can you see consistencies in the geology of the pegmatites?
14:01 What should people look for to understand the Red Dirt Story?
15:32 Explaining the significance of LCT pegmatites.
17:22 Are the proportions of LCT positive or negative?
19:02 What could throw a spanner in the works?
20:21 Is there a type deposit happening in the Lithium industry?
22:32 How does Matthew take this Lithium market?
24:06 Is there such a term as a good or bad lithium project?
25:51 How should investors temper their expectations on the Red Dirt Story?
27:21 The lack of information is mutual.
28:21 Mt Ida is a Gold project too.
31:19 How does the gold sit spatially to the lithium?
32:56 Where does the Gold project sit on the list of things to do?
33:43 News flow.
35:16 What are the brokers saying about RDT?
36:04 How big can Mt Ida be? What is your pitch to Investors out there?
37:36 Samso's thoughts.
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About Matthew Boyes
Mr Boyes is a qualified Geologist and Fellow of the Australasian Institute of Mining and Metallurgy with 25 years industry experience with a strong background in minerals resources, project development, construction and operations management.
Mr Boyes has recently served as COO for AIM listed Patagonia Gold successfully overseeing the development and construction of two standalone Gold-Silver heap leach projects in southern Argentina. Mr Boyes has significant experience in product evaluations and financing with a focus on the junior market sector.