Cant believe Im wasting my time replying to you but when AGY is $1 your beloved ASN will be back to 1c after the market runs out of reasons to pump it.
http://trugroup.com/downloads/Paradox-Basin-Lithium-Frenzy-2017-08-14.pdf
Apologies in advance as I should be posting this on the ASN thread but nobody wants to hear this there and I am replying to someone here.
So many red flags on ASN.
Starting with the "strategic partner" Zhonfang/ Chia Tai.....
After Mayan Iron (MYN) changed their name to Anson (ASN) last year it turns out Zhonfang/Chia Tai's address is "coincidently" Anson Rd in Singapore - thats the singapore address, they are actually registered in the British Virgin Islands and where mentioned in the recent Panama Papers
https://offshoreleaks.icij.org/nodes/156221
They have never issued a substantial holders notice for ASN but that is not surprising considering their directors history with the Singapore stock exchange regarding correct filling of paperwork. So has the "strategic investor" been selling shares? Are they really a strategic investor or just a company getting shares at a discount to sell into the pump? Other major names on the register have sold.
As for the MOU's, they are worthless as anyone can see from the previous Chinese MOU's Anson did before the name change.
Management....
Big wages and a history of dealing with "strategic partners" who are Chinese private companies who fail to submit correct paperwork, sign worthless MOU's and who get cheap placements which are then sold.
Resource.....
1700ppm or 170ppm?
http://trugroup.com/downloads/tru-lithium-paradox-basin-error-release-2017-08-08.pdf
Mg/Li ratio is a huge 20:1. Energi have invested hundreds of millions of dollars on a direct extraction process (no ponds) for their rincon project, which has a Mg/Li ratio of 8:1, but is rumoured to have failed. Do people actually believe Outotec have devised a way for the paradox basin at 20:1? And if miraculously so why are they not selling it to the Bolivians to open up Uyani and take over the market? Why is it all the penny dreadfulls on the paradox basin have suddenly devised their own process but nobody seems too rushed to actually drill the holes.
Then there is the mis-information in announcements regarding the bench top testing on a syntethic brine that Ouotec did last year. According to the announcment 12/04/17 the Mg was removed with a 3% loss of Mg, but in another announcment on 06/07/17 they include a table which shows over 50% loss. How the ASX has not asked for a "please explain" on this is beyond me.
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You can polish a turd for so long and even make a lot of money from it. But only if you sell before the turd starts to stink.
