Too cheap $4m in the bank - EV Sub $10m
neighbour market cap 7 x value not yet drilled
azure 18 months ahead valued at $2b
upside is huge (other one looking undervalued GRE circa $25m EV with $4m cash)
From the Rat Rant - “I own stock in this ERW just FYI, know the boys on the board & hope that Gina comes after this one sooner or later - much cheaper Gina and if you slang me the buy order, could probably be of assistance to you before it's too late again.”
Some details on its recent exploration program are listed below:
GROUND RECONNAISSANCE CONTINUES ACROSS ANDOVER WEST PROJECT AREA FOUR LITHIUM ANOMALOUS PEGMATITE ZONES EXTENDED- Multiple pegmatites identified from ongoing reconnaissance rock chip sampling
- Follow-up sampling will be focused on 4 pegmatite zones where anomalous lithium results
4 pegmatite zones have been identified that demonstrate continuity of the previously reported anomalism.
These areas are located approximately along strike and 2km west of the lithium pegmatite occurrences recently reported by Raiden Resources … …the activities and successes of various neighbours such as AZS, RDN, GRE, the Company remains optimistic that these anomalous pegmatite systems identified to date may lead to more significant discoveries on Errawarra’s tenement.
Rock chip sampling to date has highlighted a number of pegmatites that are anomalous in lithium, caesium and tantalum (LCT) elements which indicate they are potentially fertile for lithium mineralisation.
“Our field activities continue to provide encouragement that the lithium anomalism associated with some of the pegmatites may lead to confirmation of lithium mineralisation in associated parts of these pegmatite systems.
…..preliminary field results are pointing to a persistence of anomalism in 4 pegmatite zones. As reported by Azure Minerals, the source of the lithium mineralised zone could well be at depth and this will only be discovered through drilling.”
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