Ann: Andover South Drilling Update, page-1316

Dawngfather,

Funding was not undertaken to give them a shot at discovery elseware.

You mention depth and other targets.

Initially they drilled shallow.

What most likely occurred is mineralisation widenened at depth.

Also possible other mineralisation was detected that did not show on the surface.

Much of azures mineralisation did not go completely to the surface.

Mineralisation might be more profound than what surface outcroppings indicate.

Those outcrops only cover ground where soils eroded away.

Mineralisation starts deep and goes up to the surface in most deposits.

As for testing other targets, you would if you discovered something that warranted it.

Also if they do discover mineralisation under the surface would be a takeover target.

We go from possible to proven.

If azure made a bid, if mineralisation is proven in multiple places, raiden is in a better position to extract a higher price.

Untested areas would be valued at zero.

Here it is better having 5 or 6 zones proven compared to 2 or 3.

This is why I think raiden altered plans to fastrack, so as not to get caught out.

I have mentioned spectrum before, they hit deep gold at pennywest, were in litigation.

The very next day after litigation settled, ramelius announced a bid.

1. Spectrum never got the chance to prove up the value.

2. Ramelius had decided prior and waited for a trigger. In that case litigation ceasing.

Azure will have worked out what they would pay for raiden based on different outcomes.

Naturally bad results would not entertain a bid, but something like multiple 25m plus @ 1% intercepts would.

Would prove not a one hole lucky hit.

Here if multiple zones, 1, 2, 7, 3, 4 all contain Li.

Potential is 1km strike already. 1km is pretty serious stuff that many explorers can only dream about early.

The main fall has occurred since 7 Nov, the day it was announced 40m escrow shares would hit the market.

I do not believe there is a leak, because assay results would not have been available on 7 Nov when it all started.

It is beneficial for institutions for raiden to have fallen.

They can Wether short term losses to get a large stake, unlike small retail holders.