what happend bro!

The tale of Homobolo and the Lithium rush: a chronicle of booms and busts.

In the distant land of Dodoma, I recall a visit to the Homobolo area, where we offered advice to clients seeking to explore this region. The story of Homobolo's mineral riches spans across time, and to understand its rise and fall, we must embark on a journey through its history.

In the year of 2016, Homobolo's mountains were explored by Australian companies seeking lithium deposits, and Liontown was among them. Although Liontown's initial drilling program suggested no potential for further exploration, the tide turned in 2022 when the price of lithium skyrocketed to 70 USD per KG, leading to a sudden interest in Homobolo's mountains by Chinese lithium refineries. The price surge was such that some believed it would reach 100 USD per KG.

My own experience in Homobolo revealed a rapidly changing landscape. When I first visited, there was barely a single Chinese miner to be found. However, after the first cargo of lithium ore was sent to China, attention was drawn to this previously overlooked area, and Chinese miners flooded in. The previously sleepy town of Homobolo quickly transformed into a bustling hub of activity, with miners of all nationalities setting up camp, and locals selling lithium ore by the roadside.

However, this frenzy was short-lived, and by mid-2023, the price of lithium had plummeted back down to 20 USD per KG, marking the end of Homobolo's lithium story. The clients I had helped set up mining camps with had vanished. Yet, amidst the chaos, some profited, such as the farmers who sold their land to the miners, equipment owners, and consultants like myself. These individuals could be called the "bubble riders."

In the mineral industry, bubbles are not uncommon, and history often repeats itself. Nevertheless, many continue to make the same mistakes. In future articles, I will delve into the art of bubble riding, exploring the lessons we can learn from these booms and busts.