AZS Media related thread, page-267

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MrLong2019

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28/08/23

13:52

Post #: 69588910
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Originally posted by Mr. Metorite: ↑

Hmmmm. Well the claims of a 100M tonne spodumene ore body at Andover are outrageous IMO. I based my block model on the posted drill assay results that look like this:

To me, the reported Li₂O mineralisation at Andover looks pretty bony. I think that the strip to get to the sweet spots will need to remove almost 800M tonnes. So, at $10 per tonne build a mine, mine the waste and ore, process the ore, and ship the concentrate to where ever to be made into battery material, you get 8 billion dollars. At the Corvette spodumene exploration project in Canada, they reported a resource of 109M tonnes at 1.42% Li₂O based on a 0.4% cutoff and with holes drilled along 50m spaced lines. There are sections on their web page that show +100m drill intersects of ore-grade Li₂O that start near surface. The market cap of PMT is about the same as AZS, but their reported resource is 40% higher grade and 3 times more tonnes that what I got in my model. Also the Canadian project has way more blue sky than Andover IMO. Be careful about investing in AZS is all I have to offer. If you are into gambling, go for it.

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I suppose SQM’s circa $1b bid for Azure was based on the premise that their deposit would be unprofitable to mine.

And Creasy, perhaps Australia’s greatest prospector of all time, must be losing touch by refusing to sell his stake to SQM at $2.31/share.

What uni did you go to again?.

Last edited by MrLong2019: 28/08/23

AZS Price at posting: $2.50 Sentiment: Hold Disclosure: Held
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