Financially Strapped Maximus Resources Eyes Lithium Bandwagon

This week’s Livewire Exploration Watch ((VIEW LINK) tagged Maximus Resources as “exciting” because of work at the Eagles Nest prospect in Western Australia. A geological reinterpretation at the historic Spargoville gold workings has raised the possibility of a high grade gold find near existing infrastructure. Meanwhile, on Monday, the company announced that a review of the lithium potential of its tenements is “nearing completion”. This, it contends, does not distract it from its “core focus”. The temptation to juice up a moribund investment market by jumping on an available bandwagon is understandable but one person’s bandwagon can easily become an uncomfortable distraction for a sub-$4 million value company. More projects mean enforced capital rationing and doubts among investors about priorities. They increase the number of possible disappointments. A company with cash of $336,000 at the end of December and forecast March quarter spending of $300,000 does not need more development options. Maximus needs to show it is capable of executing on potentially exciting prospects in a market that requires companies to get one thing right before shifting to the next target.