"The company has been an obvious takeover option for lithium...

"The company has been an obvious takeover option for lithium major SQM for some time, with the company sitting at just under 20 per cent of Azure’s register.Market chatter suggests that SQM was preparing a bid at around $2.30 a share – but last week’s exploration target, of an estimated potential mineralisation of 100 to 240 million tonnes at 1 to 1.5 per cent lithium – ticked the company’s stock up closer to the $3 mark."

https://www.theaustralian.com.au/business/dataroom/azure-minerals-the-talk-of-the-town-at-diggers-and-dealers/news-story/5bcc4be847d8ebce3c01da0ffd008b37