I think there is a big disappointment regarding the ML; until then GH had being kicking goals and things seemed to be going exactly to plan. ML issues were a hiccup that wasn’t really expected & the team didn’t see it as a problem but started to put some doubt in SH minds.
Then VBS threw their hat in the ring with their 9.5c offer which was attractive to those who bought in at 6c back in Feb! Any doubts and you had a very nice exit strategy. Very clever by VBS!
Add to that the current market and the current market jitters; must say I have wondered if I should have cashed out, but think long term these guys have some pretty good prospects.
I am worried that GH is starting to dabble in too many things and not be as focussed on getting one to production. On the other hand if he gets all of them to production, I will be enjoying my retirement and very soon!
Having said all that, once VBS offer lapses, it will be interesting to see if the price holds up. Certainly hasn’t traded above 9.6c for any length of time so my guess is it will drop back below 9c in the short term. Could be a good time to buy. More importantly, I wonder what will be the next big catalyst for a rerate; since the ML issue it is a bit harder to see the way forward. Imo the DFS will be important but wonder if it will be enough. Funding, an offtake agmt or a partner may be required to set this one alight.
AZI Price at posting:
9.5¢ Sentiment: Hold Disclosure: Held
