I see some similarities with AZS. AZS SP tripled from the time...

I see some similarities with AZS. AZS SP tripled from the time when it started producing rock chip sample results and the extent of outcropping pegmatites to the day before it produced its first assays. The SP increased due to the potential of finding a significant lithium resource - the day before the first assays it had a MC of $240m and it is now over $1b.

IR1 MC is now about $240m and is partly based on its other non-lithium projects as AZS SP was plus expectations for a decent sized lithium resource. IR1 is flying under the radar, more so than AZS was.

While all the focus is on the up coming Beecher assay results we should not forget about the other targets.The Beecher project by itself is a small area and I (as does IR1 - see company quote below) view the rest of the IR1 tenements to have great potential. Compared to AZS little mention has been made of IR1’s other lithium projects outside the small Beecher project.

IR1 is working on other projects as can be seen from the quotes below in recent announcements:

“Geological mapping and sampling at the recently acquired Edison Lithium Mine will help delineate priority targets for drill testing. Once drill pad locations are identified applications will be submitted which generally take 30 days to obtain.
Regional mapping and soil sampling programs will continue throughout the summer with results to be announced during the year. These regional programs will identify new pegmatites for future drill testing.”

That is, there will be other SP catalysts coming up over the next 6 months including drilling at Edison (which they stated current funds will be used for), other than the Beecher assays.

The big potential SP catalysts over time are what they find in the rest of the IR1 tenements. Yes short term Beecher assays will be the most important catalyst. If they find something significant at Beecher, then how much could they find elsewhere as that potential will magnify the SP gains from success at Beecher. IR1 knows this as they quoted in a recent announcement.

“Whilst patented claims have distinct advantages with less onerous regulatory obligations for undertaking exploration and mining activities, the 2,400+ BLM claims IRIS has 100% ownership of, are considered equally prospective for lithium, and cover many square kilometers of fertile LCT- pegmatites.”

IR1 have pegmatites everywhere just like AZS. If the potential of the other areas are realised then the SP of $10 will be seen in time to have been cheap and the current SP a bargain.

But at this very early stage it is a big IF - the have to prove the potential.