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$3.69 azure minerals limited

re the $400m - you need to consider that the Ni/Cu/Co was...

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calmbeforestorm

5,544 Posts.

2267

10/06/23

19:35

Post #: 68233727
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Originally posted by dawgfather: ↑

posted a reply to this last night but seems to have disappeared into HC ether.

Its a great post you wrote. I had something worthwhile in my response but tbh I’m forgetting what it was.

In terms of comparison to GL1 - this seems really useful given they’re on an almost identical mkt cap. The question is whether the market is valuing GL1 at $400m for 50MT or just the 32MT at Manna? Do you have a view on this?. It obviously also attracts a discount because of the large capex.

It just feels strange that GL1 is 1-5-2 years into its project and AZS is somehow trading alongside it without even its first assays returned. I know the market is forward looking, but really?

Agree with you that assays will be the key here. I do wonder, even with some 1-1.5% grades, how much upside there can be when it’s already trading at $400m. I guess it’s all about how large the deposit could be.

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re the $400m - you need to consider that the Ni/Cu/Co was trading a5 about $100m give or take $10m.

That is the lithium is worth about $300m

AZS Price at posting: 62.5¢ Sentiment: Hold Disclosure: Held
13 Upvote

0 Great analysis

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