what i would stress as an ASN holder and someone will likely take a position in MAN in the future, is patience.. heres what MAN would need to do to be at the same stage as ASN as hence worth 200m (in theory)
- reenter wells and sample all units
- deliver PEA or PFS
- reenter more wells to increase indicated resources (indicated is only 2km from well centre)
- deliver DFS
- choose technology and partner
- do testwork to prove the process works
- have lithium purity validated by third party
- begin work on FEED
MAN secured the full extent of the project tenements 2 months ago, to be dreaming of a 10X or 1000X in the near term is very unlikely, ASN are 200m MC and vastly more advanced with more than double to cash on hand, MAN can follow them and take a few shortcuts but were still talking like 3 years before they are in the same position, 3 years to bring a project like this to that stage would be a miracle but its possible, but i don't think holders should be thinking these prices are like a temporary thing and they'll be at 40c in 6 months, like i said they've had the tenements for 2 months, ASN have been waiting on BLM approval to reenter the wells for 3 times longer than that
(20min delay)