Hi mate i see, thanks for your comments. Its clear that there are a lot of old holders under water here from many years ago - obviously you guys are not happy with the management / MD based on historical performance - it makes sense and rightfully so.
However, im here for the newly discovered Lithium on the tenament - nothing else. They've accidentally stumbled on this while targeting nickel sulphides. It reminds me of how ASX:BRB accidentally stumbled on outcropping spodumene bearing pegmatites while searching for gold. After further investigation with a small RC drilling program, they released a maiden Inferred JORC Mineral Resource estimate of 9.9Mt @ 1.14% Li2O
That deposit is "Manna", now owned by ASX:GL1 and worth a lot of money. That JORC resource has also grown with further exploration to 32.7 million tonnes and is expected to increase with further drilling later this year.
So just to reiterate my earlier message: a good resource will overcome crappy management. It's literally about what's in the ground - the MD can't change that (whether good or bad).
Im quoting a friend here (WVJ): that's what lithium is doing to the exploration sector - amateur companies are getting lucky and falling into the right tenement with the right commodity at the right time in the right jurisdiction.It has been proven with various lithium speccies - as long as the resource is there, it doesn't matter about the crappy or average management - it'll work itself out. There are many examples that prove this (ESS/LRS/WR1 - all average management that just got lucky)
So in the case of AZS - nothing is gauranteed yet (in terms of how good this is). But so far, they have sighted multiple outcropping spodumene bearing pegmatites - which is a very positive sign. So positive, that SQM (one of the largest lithium producers globally) to take a punt here (which is exactly what i'm doing right now, taking a calculated punt here).
"The latest batch of assays returned high grades of lithium up to 3.32% Li2O, which is the highest lithium grade reported to date. Encouragingly, our geological mapping is identifying the presence of the preferred lithium-bearing mineral, spodumene, in many of the outcropping pegmatites."The good thing is that drilling should be under way very soon. SQM only has 2 months to finalize their decision and drilling is scheduled for Q1 (so anytime between now and March. I think it will be quick, in order to give SQM time to see if the initial drilling results are looking positive so they can make their final decision. If its a yes, then also expect an offtake announcement with SQM as part of the deal (plenty of upside potential if things work out positively). For those that want to play it safe, will obviously wait until the first drilling program is completed / assay results and SQM's DD / decision.
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I'd also like to mention some advice to you and old mate. When you invest in a stock, don't get emotionally attached - that's a good way to lose money. When i invest in a stock, i monitor it closely for any red flags or changes, and if i no longer feel like its a good stock to hold, i exit - even if that is at a loss (the quicker you do this, the better). There are always new plays on the ASX to use to your advantage to recoup losses. I would never, sit on a stock that i do not like for 10 years, let alone 1 day. I'd cut it real quick and move on to the next play. In fact the quicker you do this, the more capital you preserve. If you had done that, you would be in a much better position now too. Anyway, if this lithium play works out, im going to guess that not only will you recover your previous losses, but you'll be sitting on some nice profits too.
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