Hi all, I attended the Sydney meet up today and sharing some notes below. It was a small gathering of about 1 people and I was able to get a lot of 1:1 time with Gino who graciously answered everyone’s questions directly and which gave me a higher degree of confidence in the company’s prospects than what I had prior to the meeting.
Brief notes:
- Diamond rig expected at Uis by mid-Aug.
- Drill results for a number of holes, affected by assay companies which had to be changed couple of times. Expected by mid-Aug.
- For the data room that Andrada has going has created significant interest in the region and will likely have positive effect on Askari. As this may increase the cost of the mines it is vital for Askari to make future acquisitions before Andrada makes any significant M&A announcements.
Funding:
Huayou cobalt (AS2 investors)- will likely invest more per previous Ann
Spin off:
- By September will inform market pending ASX approvals; to take effect by Feb-Mar 24
- Askari will hold all Lithium mines in Aus and Namibia, and not go to the spinoff company.
- Option holders will be given time to take convert to shares to benefit from share ownership in the spinoff.
