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20/06/19
02:33
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Originally posted by speedyl:
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Geeze these threads are just rubbish these days..all this BS talk about the SP being smashed because the SPP was stuffed up lol. IMO the ASN SP wasnt smashed that badly when compared to others who have also done CR's recently. Call me a Bruce lover or AGY lover I dont care but reality is AGY SP got hit hard (and yes I'm a holder and not cross promoting here) from 10c down to 7c after what IMO was a good rights issue to reward LT holders. TCB's beloved LKE which he harped on and on about being how ASN should have done their capital raising got hit hard too from 9c down to 6.8c so in the scheme of things ASN dropping from 6c to 5.5c isnt that bad and certainly isnt out of perspective to other lithium stocks which have recently done CR in what ever form. Reality is that all battery mineral stocks, (and maybe even all spec resource stocks) not just lithium specs, are out of favour at the moment. I dont agree with 1S1 much but I think he is on the money when he says one (well we at least know of one) or 2 top 20 have been selling out on the recent announcements and IMO that is what has been pushing the SP down for ASN. I was talking to the chairman of another company which I hold shares in today, which is also in the battery mineral sector , and he said exactly what I was thinking. Since all the media hype about battery mineral stocks in early 2018 many uneducated traders who expect to make millions in 2 or 3 weeks have entered the sharemarket and are betting on it like the punters do on ladbrokes and other betting sites. These betters have no patience and when they dont make their money quickly they sell often at a loss and move onto the next shiny thing. This has meant fewer long term holders and any good announcements being sold into heavily. IMO the reality is that EV's are an evolutionary move that cant be stopped and these day to day SP movements mean very little in the big picture of how the world is changing and to change alot more lithium and other battery minerals will be required. Its certainly not for the impatient or those that watch the SP every minute of the day but IMO the long term patient holders will be well rewarded in the next few years. Wouldnt it be great if these threads got back to the good old days of actually talking about the facts of the company rather the bickering thats going on currently, subtly or not, mainly caused by some previous holders. Facts are that the fundamentals of ASN have and are continuously getting stronger and Bruce has been actively promoting the company and where it is heading. Facts are: - We successfully re-entered 4 old oil wells and have shown lithium bearing brine flows freely in them - We have now not only produced battery grade LCE but a 1kg sample and at the highest grade possible 99.9%. I have not seen any others produce 99.9% grade and very few have even got to BG grade of 99.5% so by achieving this ASN is already in a select group - Sample has been sent to Asian party/s for their qualification testing which is expected in the next month or so - Initial JORC 118,000 tonnes LCE and very high grades of other very valuable minerals contained in our brines. Bruce also confirmed in the pro-active investors video that this is just the "initial" JORC and they expect to greatly increase this as they test the other clastic zones and IMO possibly more re-entries (??) - Process proven to not only produce BG LCE but also to extract the other high value minerals - Bruce confirmed in the proactive investors video upscale in the next few months...assume this is the larger 20kg sample to be sent to EU'ers for qualification purposes - Pilot plant design and engineering well under way and operational early next year - 2nd stage of pilot plant planned to produce 1 - 10 tonnes of BG LCE to prove the process can be scaled upwards - Alex ex- Lilac employed as technical director and seems to be actively promoting the company too So while yes I agree we still have a way to go with proving the upscalability of the process (purpose of the pilot plant), producing a PFS with costings for the Lilac process and ultimately getting off take agreements and funding etc IMO we have already come along way very quickly for a company which currently has a sub $30m MC and really only commenced the work at the Paradox Basin just over 2 years ago.
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Outstanding post @speedyl , I do not hold shares with ASN, but have been actively researching the company, part of the research has been reading the entire old fireside chat, it is a little off putting to read ASN holders ripping into each other!! Lucky for me I don't rely on HC for a lot of advice although I get great enjoyment from, and insight from whole hearted posters, I'm not sure belting the crap out of each other is very positive, IMO, ASN is a little ripper, 30m cap, I think they've progressed at a rate of knots, 99% pure??? Gotta be the only ones with that sort of pure!! And at 5.5 cents crikey!! Great post speedy!! I'm in!!