They released a maiden MRE of 13Mt in December 22 after over 10km of drilling. Their market cap is $242m They have embarked on a 65km drilling program and are doing are doing a cap raise. Recent assays with grades in mid 1% and thickness in the 10 to up to 30m.
Also looked at Sigma Lithium which has a deposit in Brazil (hard rock) of 85mt - it’s market cap is $A5.5b.
If AZS first assay show high grade (ie above 1%) and thickness of 30m plus and possibly up to 100m then based on these comparisons AZS SP will possibly more than double overnight outing my current estimate ate of AZS lithium project is $100 to $110m.
AZS Price at posting:
43.5¢ Sentiment: Buy Disclosure: Held
