I'm probably one of your 'newbies' but like the rest of us that...

I'm probably one of your 'newbies' but like the rest of us that have been here a relatively short time, we have researched the parts of the past that are relevant before buying stock.

I don't see much of the past as having any meaningful relevance to the business today. I see the company in two parts: 1) pre Dugdale and 2) post Dugdale. Your comments relate mostly to the first part in my view.

Jon Dugdale has transformed the company since joining in mid-2021. He got rid of the dozen or so dud tenements in Namibia and elsewhere and the underwhelming gold projects. He undertook the consolidation that made the share structure tighter and more professional. And in recent months he has acquired a number of highly prospective lithium projects in the hottest lithium-district on the planed and that are AZS look-a-likes in several ways.

Dugdale owns over 9 million options and zero shares so he's extremely motivated and confident that something big is going to happen by 30 April 2024. We don't know if he's bought these options or not as he is not a director and not required to disclose this information. But this doesn't really matter as he's obtained them for cash either directly or indirectly.

I bought in for the lithium potential and wouldn't be here otherwise. I look at the nickel grade from the Sherlock Bay projects and think it's too low to be economic, but I really don't know. I had a read of the Scoping Study which arrived at a different conclusion that the project is viable. But I did see the SS used a nickel price of US$22,000 per tonne and that the price today is less than US$19,000 per tonne. Just as Azure has quietly but understandably dropped its nickel project, I expect Dugdale to do something similar and the nickel at Sherlock Bay will also slide into the background once the lithium projects gather speed. All in my opinion and GLTAH.