Ann: $10m institution led raise to accelerate and expand drilling, page-510

Rattle,

All miners want big inventory.

If rdn can boost azures inventory by say 25%.

That would be a 25% longer LOM or 25% higher output.

Cost per tonne of lithium produced would be lower. More profits.

To work it out you'd need to work out azure mining there own resources and a revised plan Inc raidens resources.

The difference in profit would be raidens value.

If rdns grades are a little better, that would also produce more profit per tonne.

So 3 things to consider.

Rinehart, Rio, bph etc generally build mines that run 25 years plus.

Rdn if bought, if decent resources, would be a premium to azures price because it would be used to boost output or increase LOM.

We all know if we move more of something, unit cost falls.