AZL (ASX) Ann: Change of Director's Interest Notice

Originally posted by dc1234: ↑

You are right on the money regarding approval

There is lot of countdowns around number of days left in this quarter, hence I posted this. Its just my opinion and I could be wrong.

Before entering AZL, I had read all posts in Hot Copper and all company Announcements.

When I entered AZL in January, this is from my first post on AZL:

I would still like to call out one thing which I don't like and hesitated a lot before getting into it - the BLM approval. I can understand that there is a process and approvals are required, so its part and parcel of many company's progress. So from that angle its fine. But what is not fine is the narrative around it - Eg I read an announcement from over 12 months back and it said the approval is imminent or will happen this quarter. And same narrative after few months and again, and again - till now. This is a weak spot and shows the narrative has not been handled correctly. I gave a lot of thought and from a risk/reward perspective went into it giving it a benefit of doubt, but till we get approvals, it will remain a risk.This is from company announcement of 11th November 2020 -

Cultural and Biological Surveys
Phoenix, Arizona based consulting group ERM have completed field work consisting of cultural and biological
surveys constituting the environmental assessment of drill hole locations and access for the proposed Phase
3 drill program in Blocks B and C in the Northern Mineralised Zone and Block 1 in the Southern Mineralised
Zone. The survey meets BLM, Arizona State Historic Preservation Office and Arizona State Museum (ASM)
standards. The final reports on these surveys has been submitted to the BLM as part of the POE process. A
Draft POE has been circulated with finalisation expected in this quarter.This type of narrative (approval in this quarter/shortly/imminent) is in lot of other announcement for last 15 months.

This is from announcement on 21st March 2022 (last announcement around CTO)
(Mark that there is no mention of this quarter)

An application for a Permit of Exploration (POE) that includes 145 exploration holes and a bulk sample
at the Company’s Big Sandy Lithium Project in Arizona is awaiting Bureau of Land Management (BLM)
approval.The BLM is completing its evaluation of the Company’s drilling application, including completing any
necessary procedures required to finalise the Environmental Assessment in accordance with the
requirements of the National Environmental Policy Act and other requirements. Once that process has
been completed, the Company will receive a decision on its exploration drilling application.
Community involvement is welcomed to ensure mutually beneficial outcomes for all stakeholders and
the Company is very confident that the drilling program can be completed without environmental impact
and to the satisfaction of all stakeholders.

My understanding and impact of BLM Approval
Its a long ongoing process which may take quite some time - with no defined date
Some opposition has been raised and AZL is discussing/negotiating
At some stage we may have an approval - in its original or modified form
There is plenty that can be done before further exploration
We have enough exploration done (4% of land) which can keep us producing for over 10 years
Worst case - even if initial refusal, fresh application can be made in modified
Biden/US pushing for local industry - so a refusal here and if highlighted can become embarrassment in political circles
The geo-politics of US narrative strongly suggests that AZL cannot be made failure and all support will be provided

For me this approval process is something that is happening in background. At some stage we will get approval, may be slightly modified. I am not concerned about timing. The reason I am not concerned about timing - I have looked at history based on announcement, looked briefly at approval process especially that it can take time without any final defined date. There is always a chance that no approval will be made - even finally. It can happen - but probability is very low. I work on probability, there are lot of other things of low probability that can happen - a nuclear war between Russia and rest of world with complete devastation of much of the world. It can happen, but probability is low. That's my risk/reward I did before entering AZL. My investment can go kaput, yes - but probability is low.

Expand

Thankyou. This is what I have been trying to say. Management have handled communications extremely poorly in regards to BLM. Dont keep saying approvals are imminent or due this quarter (stated multiple times) if you actually dont know (which as history tells us, they do not have a clue).
Be open and honest with shareholders. For all they (and us) know BLM approvals may come Monday or still be 6 months away or even more.

No.	Vol.	Price($)
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(20min delay)
Last 1.6¢		Change 0.000(0.00%)		Mkt cap ! $71.58M

Open	High	Low	Value	Volume
1.6¢	1.6¢	1.5¢	$6.28K	410.3K

Thankyou. This is what I have been trying to say. Management...

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