Ann: High Grade Lithium at Andover, page-100

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MrLong2019

1,419 Posts.

131

12/01/23

15:51

Post #: 65660836
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Originally posted by SugeKnight: ↑

Its clear from reading his comments that he purchased a long time ago (he talks a lot about the capital raising of Dec 2020 at 75 cents)

I hope for your sake my friend that the lithium results are great so you can recoup your losses

Sometimes even if the management are bad, they may get lucky simply by sitting on something significant in the ground. In this case, SQM is taking a gamble on their outcropping spod / lithium potential.

Nothing is for certain, but it does look promising.

It seems like SQM has played it smart here
First investment is only $4.2M
They've given themselves 2 months from the date of completion of the first tranche to make the deciding call to either call off the remaining investment (additional $15.8M, making it a total of $20M) - or to give it the thumbs up along with an offtake agreement
This might be enough time to see if the initial drilling is looking promising (this indicates drilling should be starting anytime now)

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That is correct - my purchasing was initially in 2020 and during the hype. I did average down a little though still deeply in the red.

It probably explains why I can’t stand uprampers or even the sniff of one.

At the end of the day, I hope they get lucky, and find commercially viable quantities of lithium.

But the odds are strongly against us with history as a guide.

AZS Price at posting: 29.5¢ Sentiment: Sell Disclosure: Held
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0 Great analysis

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