Ann: Mt Alexander Lithium Exploration Update, page-69

@coto "haha nice try, assay lag times are outrageous at the moment."

Except for the minor detail that Azure were still drilling after SGQ and already have those results back and reported to market, nearly 2 weeks ago..

Best assumption for the 121m pegmatite intersection is nothing worthwhile, given the history of this mob. If there was something significant in that diamond drill core, that the geologists would be able to clearly see, then the company would have paid extra for fast assays. They clearly didn't.
Also we could assume that if the geos had seen something significant, the SP would not have fallen like it has.

This puts the company back in the category of one without any MRE of any type, no really promising drill results (as in looking to drill down dip because of finding something worthwhile to prove up a potential resource), and a way overblown Mcap of $33M for a penny dreadful.

A couple of weeks ago I asked you to name the 'peer' companies. Instead you named companies with close tenements. They are not peer companies. Peer companies are those with very similar status, as in not much cash to spend exploring and no MRE.

Realistically SGQ should have a Mcap of below $10m, like other peer companies. It is still vastly overpriced, which limits the upside potential if they do find something. for example a company that has some initial great hits of mineralisation from a low Mcap, might go from $5-7M to $100m, being a 15-20 bagger. If something with a $33m Mcap found the equivalent mineralisation and goes to the same type of follow through Mcap of $100m, then it is only a 3 bagger. It seems there are plenty of punters in this that don't understand this simple opportunity cost...
All IMHO of course...