AVZ (ASX) Ann: AVZ Successfully Restrains Dathomir

Originally posted by sydneyguy: ↑

the upgraded resource estimate Just announced
Was for drilling 2018-2021- it’s 2023!

The exploration spend this Year , when they they were suspended and facing multiple and now even more actions was a very poor use of capital - the idea they needed to keep things going when they had no mining lic- a cancelled decree- a number of icc actions they brought and actions brought against them was a stupid spend - they have financial accounts to show what was spent on exploration- and there is nothing to date for the drilling done just after suspension and completed- now it needs approximately the same amount it says to see the legal actions through-

should have been stopped in late 2022- as we know only since suspension it appealed and lost- then started icc actions- saw it’s decree cancelled- received some big claims against it and has other actions afoot —— the resource and reserve was already marketed by the company as a monster - but it still hadn’t updated a dfs from 2020——the drilling on the area just updated was mainly done in 2018

Avz is consumed by legal actions it should have stopped exploration and counted its penny’s to o pay for its legal actions to hopefully obtain a mining lic

it doesn’t change the fact drilling on the updated portion was complete well well before the first suspension - and why would it take two years to calculate and inferred resource- ?

and why would they have spent 36.6 m doing even more drilling last financial year on the main ground when it was already a “ monster” and they were in legal atouches before suspension

there is nothing on paper for the spend last year on exploration yet —- but company needs more funds

Expand

drill results from years ago announced now - why?

a) They didn't want the market to know the size of this until they had ownership
b) they now want to trash any suggestion that exploration wasn't done
c) they now want to seek a big payout for anyone who wants to buy the northern area, as previously alluded to any deal on the north will have benefits paid to AVZ; this is the foundation for that benefit

so in hindsight, had they not drilled they would have none of these benefits... so in sighting the BoD has served us well.

The only thing missing is the boom in all of this, this will come and once again in hindsight we will see that

A) AVZ weathered a massive down-turn to our benefit
B) AVZ came out at the right time trashing all short holders and massively benefiting the longs
C) AVZ developed the largest mine with the lowest operating cost giving us the Saudi equivalent to OPEC as we are to lithium.