Gajet,
Plausible due to azure.
If raiden had a standalone, not near any body else, I'd say 500m insane.
But it will be valued not on its resources, but on how it can enhance azures resources.
Azure will not mine Andover for at least 5 years, so the present lithium price is not a factor.
For azure the factor is inventory, the more lithium they have, the cheaper it will be for them to mine per tonne.
The value in raiden is that effecuency to azure.
Early days, but if raiden can find 50m tonnes @ 1%.
Could mean the difference between azure turning a profit or not turning a profit.
If we look at iron ore, it could fall $80 a tonne and bhp would still generate profit, marginal, but due to volume, whilst small iron ore producers would be in care n maint.
Azure will not view raidens resource as ours, but there's.
It is the way it works, big co consumes little Co.
At the moment the risk is narrow intercepts, low grade and a potential lithium system not part of azures.
But looking at fault trends and proximity, risk is lower.
The answer to the above will be know from the 5000m.
What will really get noticed, is if all strikes are open.
I also believe grade might be a little better than azures, comes down to how the swarm formed.
I bought degrey at 2c, not there yet, but I never thought I'd find another degrey.
I did pick chalice at a few cents, but took my eye off it.
If no good, raiden will fall, but ev is 65m, plus Mt scholl Ni and arrow. I'd not think much below 2c if it occurred
But the upside in the short term is 8 to 10c
My odds are 75 good / 25 bad.
But it is the extra 10,000m planned, this 5000m is just recon.
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