Ann: Arrow Gold Project Aircore Drilling Results, page-23

the important part about AZS in this context (as a prior holder there), is that they were targeting nickel resource in Andover. They then discovered a significant pegmatite swarm visible from surface with erosion exposing the white outcrop (from memory). Now, this transitioned to a drill program via high priority targets first (as they all tend to do). This resulted in significant results exposing a large deposit.

Now here, RDN, those high priority targets extending on the hard work and tenement over in AZS-land has yielding nothing economic, let alone sizeable. Or any leads to amount to anything economic at all in the future.

The reality is, is that the lithium deposit here looks like be a complete dead end with no economic grades discovered. It is noted that there is some at surface but does not extend. The ongoing hope from holders is, is that there is a signifcant amount far below the surface. This is further risky as the amount needs to be significant to justify the economics of a deep, underground mine (of which will likely only yield economic grades far below the surface).

Zoom out into the wider context of Lithium. Prices are low. Tenements similar to AZS had outcroppings, or additional material that weren't strongly considered before Lithium became a more widely tradable and mature commodity. These now unlock significant future supply as some are not economical or may benefit from a delayed production to yield better prices.

Couple this in with that prior hope and you can see why I do not factor the lithium tenements in at all and it is basically riding on whatever Mt Sholl can provide + cash (not really a big consideration in an explorer in terms of intrinsic value, just a means to reduce risk of dilution).

The SP slide should continue until something can come from Mt Sholl.