RDN (ASX) RDN AGM Discussion and Outcome

Originally posted by Shakethecup ↑

This is cut and pasted from a message to a few of my mates that couldn't attend and it was typed ball park accuracy while walking back to car but still shows the sentiment after wrapping up. Overall I'm positive and pretty excited for the future. Didn't strike oil immediately so need to be patient and map out the resource which was to be expected really anyway. Wont be buying more as just about to get a new mortgage but if I had a spare 10k I'd definitely be topping up while it's under 2x the gamble is too good.

'Okie doke so few key points, t1 and t2 aren't write offs but just less of a focus as they are breaking out in all directions so don't have much more info than we did with surface area besides confirming presence under the surface, t7 is a fat old deposit and there's a chance it could mineralise up to the surface into the center area of the valley with newly identified pegmatite out crops but its a bit deep atm. Discovering these new outcrops and the identification of the presence of lithium were what drive the CR and management are feeling like we could have a shot at a fat stack with this thick intercept. the t7 drill they are looking to map that further in the current area (not into the valley for surface yet as that needs more heritage clearence) and hopefully have some new results by Christmas or early next year which might indicate a bangwr

still sitting on good nickel deposit and if this gives a fat with a TO of the tenement rather than company as a whole there is the option of a cash fund for a 5 year plan to start mining the Bulgaria gold or aus nickel if it comes back to market.

Few questions popped to the ex azure geos they said we basically have the same ground and indicators as AZS next door and seeing the same or similar they did early on. Sentiment coming out of that is less apprehensive than before going into the meeting as they provided some extra detail that's informed speculation and motivation for their near future movements that might not be put in releases for fear of fine tooth scrutiny and people taking it as fact down the line. Nothing suspect or sneaky just open discussion. There was a fair bit of self reflection on the release method and depth of info too like coukd they have done better to support the price. To be hnest im glad they dont spam crap and desensatise when we do have good news. The geos had a chuckle when someone else asked for an explanation of the price drop and said as geos we were all a bit shocked because this is very promising and the identification of a possible rise to surface of the large T7 intercept in the centre of tenement Valley was a red to a bull haha. Not a definite cash cow yet but I think the odds just swung much more into our favour. And even if it doesn't rise that much, there's still value in a deep tenement as a higher lithium price down the line and what looks to be some deep deposits

On the back of T7 in the azure tenement means they may go underground to mine. Need a bit more in the lithium price and the azs tenement would need to already be considering if they wanted to get at our deep respurce identified so far. Omly 1 rig running atm with a second coming back on line soon. Cr was a smart move, Dusko mentioned that he wanted to maintain a cash heavy position over the next 12 months and temper the pace of drilling to make informed movements of rigs not just dump 5000m+ into what might be a low yield area, think the discovery of T7 and the new valley possibility half way through the meter planned thats not focus . Also mentioned we only want to see a mpderate rise in lithium price as too much and the low grade lepoditw crap from China becomes financially viable for the customers which then floods the market and sees another rollercoaster dive in price with a glut.'

take from that what you will, I'm no expert and it was just my take.[/QUOTE
Good work Shakethecup.

Just a couple of extra snippets of information I gleaned from talking to Management before and after the meeting which may be of interest to some.
Targets 1 and 2 at A/S are hosted in undisturbed **bro, as per yesterday’s announcement which are very tight, unlike Azure TA 2 & 3 which are also in **bro but are much more brittle.
Target 7 pegmatites at A/S are hosted in ultramafic rock as is Target 1 at Azure.
Early days re Target 7 yet but the strike is thought to be NW/SE with dip to the NE.
Azure strike is generally NE/SW with dip to NW.
Many faults at A/S which are affecting the orientation of pegs.
The 1st drill No23 looks to be pretty much perpendicular to the pegmatite so intersections should be close to true width.
They have now commenced a second drill at T7 approximately 320 metres Sth of No23 so fingers crossed for all holders that this delivers and confirms what could be a very large system.

They have let 1 rig go so rather than continuing at T1 & 2 where further evaluation is now required they will be concentrating solely on drilling at T7 for the foreseeable future.

Drilling costs to date are approximately 50% under budget in relation to metres drilled which is good news.
GLTAH.
Jim.

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Last 0.5¢		Change 0.001(25.0%)		Mkt cap ! $17.25M

Open	High	Low	Value	Volume
0.5¢	0.5¢	0.5¢	$38.65K	7.927M

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