No Agenda Gajet. I only have a geological interest in the RDN tenure as an ex-Azure holder which taught me a lot about lithium and what to keep an eye out for. I can expand on the geology if you have any questions.
I feel sorry for retail here. In my opinion, there were a lot of signs that results weren't going to live up to expectations. Some of my thoughts below:
Moving target areas with the drill rig quickly. LCT pegmatite mineralisation is visual. The geologists in the field will know at the time if they are intercepting significant mineralisation. Why move the rig to another target if you are intercepting thick spodumene-quartz pegmatites?
Capital raise whilst drilling and after visuals have been observed by the geologists..Again if the results were going to be good you would raise at a premium.
Sell off leading up to results-never a good sign IMO.
I noticed in the 250m pegmatite intercept reported in the announcement today there was no mention of spodumene or other lithium bearing minerals. This is in contrast to companies like QTWO and Azure which report estimated spodumene %'s whilst results are pending. Using these logged % you have an approximate idea on the grade pre assay. An example below.
Lastly in this lithium macro it's going to take >100m intercepts @ >1.00% LiO2 to move the dial. Qtwo drilled this intercept the other week and only have a marketcap of 100m: Q2 Metals Drills 347.1 m at 1.35% Li2O Including 30 m at 1.76% Li2O at the Cisco Lithium Property, James Bay, Quebec, Canada. Approximately 300m true thickness..Compare this to Raiden's results today.
Thanks
RDN Price at posting:
1.7¢ Sentiment: None Disclosure: Not Held
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