If AZS was still trading, I'd suggest their sp would be under $1...

If AZS was still trading, I'd suggest their sp would be under $1 and dropping. To back this up, here's a handful of other companies from producers to penny dreadfuls. It is just a cross section of the industry from the first companies that come to mind.

RDN is in good company and even positive results will probably not stop the rot. Lithium is shot for now as is nickel and rare earths. It could be years before lithium recovers as many battery makers are helping prop up loss making companies to ensure an oversupply exists even when demand returns.

Cash in the bank gives some comfort here but still plenty of downside risk when buying into a falling sp. The lithium may yet become secondary just as nickel is now for some explorers which had previously pinned their hopes on it.

A few years ago many WA uranium explorers had to pivot to other commodities after Labor banned uranium mining here. Some handled it better than others and now the lithium focussed explorers are wearing similar pain due to macro events.

Management become the target of frustrated investors, often unfairly though sometimes it's justified. It's easy to look good when the market is buoyant. The test is to show leadership during tough times. I make no comment on leadership here as there is still much to play out.