Based on what we are experiencing with the fundamentals...

Based on what we are experiencing with the fundamentals completely outweighing the TA side of things, charts are completely out the window for me.

Good ol' Kev is telling us to "beware of the gap at 2.17". If i was to entertain that thought, it appears the gap would be a 18% retracement from here which is in line with previous trading patterns. Meaning, previous action shows the SP has retraced 18-21% from the new 52wk high before consolidating for the next leg.

However, yesterday morning the SP tried to pull back to close the gap but the strength of the buyers was too strong, hence the low was only 2.28. With drilling of TA2 commencing next week plus the presentation on the 8th, plus heritage approvals received on "higher priority targets", plus the abundance of outcropping mineralised pegmatites, plus the fact we've hit a 209m intersection of a 'lower priority target' ... the ride should continue.

I recall in 2021-2022, some doubters were questioning Tony's credibility. Well see below a few observations from current articles and previous interviews.

- 9th Feb 2023 (Interview), TR stated rather than announcing to the market what they found (lithium), they explored for 9 months before it went public as they wanted to make sure we are credible and have something of substance. Fair to say he delivered?
- 9th Feb 2023 (Interview), TR stated the focus is on having as many drill rigs as they can. As long as they are getting positive results, they will keep advancing with speed with an expectation of 4-6 drill rigs in the middle of the year. Fair to say he delivered?
- 3rd July 2023 (Interview), TR stated some mineralised will be "spectacular". Fair to say he delivered?
- 4th August 2023 (Ann), TR stated, "the results suggest the mineralisation remains open along strike and to depth, providing Azure with the potential to produce similar, if not better, lithium intersections". I sense this will be delivered on the back of results from Target 2.
-4th August 2023 (Ann), TR stated, "we are only beginning to realise the full scale of the project's potential".

Why does TR repeatedly talk about infrastructure, make an application to search for groundwater, receive heritage approval and discuss the potential of SQM processing (in their refinery) what Azure produces if he is not confident this deposit will be of world class.

Looking forward to your presentation Tony.

Chart below is monthly which evidently shows the SP is completely new territory with incredible volume.


Source: https://themarketherald.com.au/azure-minerals-asxazs-hits-two-massive-high-grade-lithium-intersections-at-andover-wa-2023-08-04/.
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