Oops! A nation with no free trade agreement with the U.S. That will complicate the sales pitch.
The soph’s could only be attracted at 1.1 cents and to spend the equivalent of a single house in most parts of our major cities but here comes the retailer! Ready to ‘buy the story’.
90,000,000 shares to the Brazilian vendor and $50,000 cash. If the vendor didn’t believe in the tenement or couldn’t raise capital to explore it then I’d say they would be keen to offload those 90,000,000 shares. Then there’s the sophs who can make a quick buck on their 1.1 cent shares.
From the announcement we learn that the ground hasn’t even been explored for lithium. Almost like those tenements haven’t excited anyone with any financial muscle. Almost like the neighbour ( who is an active lithium miner and would most likely have the most intimate knowledge of the value of these tenements ), has been sniffing around and didn’t see any meaningful potential in these tenements.
We also see that $2,500,000 means the company is well funded to carry out exploration etc.
$2,500,000 AU in a place that will most likely want to be paid in USD? I’d say the majority of it is going to be used to pay the Board. Trips to exotic Latin America for all the Aussie Directors for years to come, what a win!
New name. New tenement. Same core of Directors using the same old methods.
Sconi, with what I see as its out of date BFS will
very likely be replaced with something that hasn’t even been explored for the minerals AUZ is using as its latest sales pitch.
Sadly it comes off as ‘what we told you was awesome for years is once again being abandoned for another thing that’s even less developed, which is our new definition of awesome’.
Exploration, drilling etc ( 5 years or more? ). Scoping studies. PFS ( 2 years? ). Then more drilling etc ( years more? ). BFS or DFS ( 2 years? ). That puts this ground’s pathway at…
2030- here we come! Right back where we started from~
Almost like those who said these guys wouldn’t be mining before 2030 ( if ever ), were right all along & that their take on this whole thing would have saved some people a lot of money! Surely the same logic being applied from here on in can’t work? If it is broke, don’t fix it?
By the time anything comes out of this ( mid 2030’s if ever ), hydrogenwill have taken a big bite out of the battery story. At least nickel’s primary market ( steel industry ), doesn’t have any real competition on the horizon!
Oh well! Never forget that you ‘haven’t lost until you sell’, unless you’re one of those people who think that being unable to use that money- or even to be able to use the loss to offset gains elsewhere- is its own form of loss.
All in all I still wouldn’t touch it but it is a great ongoing case study for what not to invest in.
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