A SHead article today about how to spot multibaggers and 2 fundie’s recommendations one of which is AZS even though it has returned nearly 800% in a year - this may partly explain todays SP action on no news - this is what they stated about AZS.
Azure Minerals (ASX:AZS)
Azure used to be South American-focused lithium player, but it has since moved on and become a lithium explorer in Western Australia.
“What’s exciting about Azure is that at a market cap of around $700 million, it’s got the potentials to host a resource deposit the size of something like Liontown,” said So.
Based on the drilling they’ve done and the data received, So believes Azure can initially put out somewhere between a 50 to 100 million tonne resource, which is very substantial in the lithium mining world.
“That’s an initial resource, but as they continue to drill out their deposit, that could get to a much bigger resource size.”
On the downside, So said that Azure could be one of the stocks to be sold off first if commodity prices start to soften.
“Because at that point, the market is not really interested in an upside anymore, and investors just want to get out of the sector.”
