Ann: Trading Halt, page-242

Andover South demonstrates similar resource size and grade to Azure’s Andover project, its market valuation could theoretically scale toward Azure’s valuation. However, key factors influence this comparison:Resource Similarity and Market PerceptionExploration Maturity: Azure has a defined exploration target and substantial drill data. Raiden’s valuation will depend on its ability to replicate or approach such results.Funding and Partnerships: Azure's partnership with SQM adds a layer of confidence not yet matched by Raiden.Potential Market Cap Estimates for RDNAssuming successful exploration at Andover South with similar resource scale, RDN could aim for a valuation between A$300–A$500 million, representing a significant multiple of its current market cap.Share Price Estimate: With its current share structure, this could result in a share price of approximately A$0.30–A$0.50, assuming no substantial equity dilution.Relative Valuation: RDN vs. AZSIf Raiden proves a smaller but economically viable deposit, its valuation might remain in the range of A$100–A$200 million, maintaining a significant gap from Azure due to differences in scale, funding, and market confidence.ConclusionRaiden Resources offers a higher-risk, higher-reward investment relative to Azure Minerals. While the proximity to Azure’s discoveries at Andover is promising, actual valuation growth will depend on exploration results, resource definition, and investor confidence.Would you like further assistance monitoring these companies' developments or conducting a deeper analysis of share structures?