Banter and general comments, page-1559

Re SP this year - it’s sort of how long is a piece of string. While I have some figures below I really have no idea where the SP will go to as it all depends on the future assay results. However, Tony is very confident of more good assays results - why is he - it’s because they have drilled over 100 holes to date in TA1 and they pretty well know the sort of assays they will report in these holes due to visuals of the spodumene in the pegmatites.

While 100% of the project fully diluted is now valued at about $1.4b which is a serious value for just 24 holes with assays, but great intersections, further significant SP gains are possible:

1. if assays results from TA1 are consistent with or are better than those announced to date from now until late September
2. If they release an exploration target of 100mt or mire from TA1 in next month
3. If they add more drill rigs say another 4-6 in September/October which May mean more than 100,000m of drilling by end of CY2023
4. If say from late October they release great assay results from either TA 2 or 3 and very late in the year from the third TA consistent with TA1

If 1,2 &3 occur then maybe $3 SP is possible in next 2 months given there is blue sky from undried TA 2 &3.
If 4 occurs then maybe $4-$5 by end of 2023.
chip
$3 to $3.5 makes 100% of Andover worth $2b -$2.5b in the current PMT range while $4-$5 is about $2.8b to $3.5b.

One reason I am positive on the SP is because AZS is ‘the talk of the town’ and may be more so after Diggers & Dealers next week - there is great momentum in the SP and it will likely continue as long as they release more or better great assays. At sone stage the SP will undergo a significant correction but can’t see that happening for a while and it may not even happen in 2023 - as long as the assay results live up to the hype the SP will likely continue upward but if the assays do t live up to the hype the. Down she will go.