Definitely not ideal seeing the SP retreat but what we are...

Definitely not ideal seeing the SP retreat but what we are seeing with ASN is consistent with other lithium shares also retreating
SYA

VUL

AGY

GLN

Hwk


Only a couple I am watching have bucked the trend:
LKE

EMH


Each have their own story (and some of those above are absolute dogs ie HWK...i wouldnt touch them with a barge pole) but the trend is consistent. Remember, they all came out in January with news and capital raising's. They need time to put that money to work. However i would like to see a bit more of a news flow from ASN. As someone else stated, since the PEA from last year, there hasnt really been anything material presented by Bruce that we didnt already know (on the paradox project that is. there were announcements on Bull). Granted he has said they are accelerating the PFS and updating the PEA, but until we have them all we know today is what we knew back in mid 2020. Looking back on recent announcements, there was a flurry of activity from 2018 - 2020. Im hopeful this year will see an increase in news flow. A couple of things i would like to see in the interim:
- Bruce and co announce a shift from salary to share performance base remuneration. granted they took a reduction during COVID, but nothing sends a better message to shareholders about the prospects of a project than saying, "hey, we are going to cut our remuneration in half and issue performance based options with a target price of 10c". It might be pie in the sky type stuff but I like to see directors put their neck on the line. Bruce has been with ASN a long time.. i dont want him feeling complacent. BTW, this is just my opinion, people can agree or disagree, but personally i value this type of commitment.
- An announcement in relation to Long State Investment. There has only been $250k drawn of the $15m and this was only available up until 16 May 2021. Some positive news of a continually commitment by LS would be good. But i suspect they will want to see progress, just like the rest of us.
- Some kind of offtake arrangement for the Bromine. This has to happen. we get this announcement and things start to fall into place. Take a look at BEM for example, they have managed to get a supply agreement with Urbix, and a purchase agreement with Luxcarbon.. all the while they are years off developing their own Graphite project in Madagascar and Western australia. The point is though they have a resource that both those stakeholders see as high value. ASN know they have the bromine, and lithium as a "by product", we just need someone to commit to buying it.....shouldnt be hard given we had an mou back in 2018.

Anyway, for now we just hold tight and wait. I just hope Bruce doesnt make us wait too long because at the end of the day he is competing for shareholders funds from a lot of other good lithium projects out there.