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$3.69 azure minerals limited

AZS Media related thread, page-274

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calmbeforestorm

5,127 Posts.

2098

28/08/23

15:33

Post #: 69591767
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Originally posted by Mr. Metorite: ↑

Hmmmm. Well the claims of a 100M tonne spodumene ore body at Andover are outrageous IMO. I based my block model on the posted drill assay results that look like this:

To me, the reported Li₂O mineralisation at Andover looks pretty bony. I think that the strip to get to the sweet spots will need to remove almost 800M tonnes. So, at $10 per tonne build a mine, mine the waste and ore, process the ore, and ship the concentrate to where ever to be made into battery material, you get 8 billion dollars. At the Corvette spodumene exploration project in Canada, they reported a resource of 109M tonnes at 1.42% Li₂O based on a 0.4% cutoff and with holes drilled along 50m spaced lines. There are sections on their web page that show +100m drill intersects of ore-grade Li₂O that start near surface. The market cap of PMT is about the same as AZS, but their reported resource is 40% higher grade and 3 times more tonnes that what I got in my model. Also the Canadian project has way more blue sky than Andover IMO. Be careful about investing in AZS is all I have to offer. If you are into gambling, go for it.

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You can fight it out with @WowVeryJosh - he has modelled the TA1 resource and comes up with a much bigger figure - see images below of his latest post and a link to that post.

https://hotcopper.com.au/threads/ann-substantial-lithium-intersections-continue-at-andover.7534957/page-23?post_id=69453676

AZS has an exploration target of 55mt to 105mt for TA1.

AZS Price at posting: $2.49 Sentiment: Hold Disclosure: Held
19 Upvote

1 Great analysis

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