I got back in myself on the dip after taking profits in the high 30's . Couldn't resist the cap raise pricing.
But my impetus for making another move back is that obviously the markets are not stupid here folks.
They know that AZS announced to the market on 10th October 8:50 am
" SUBSTANTIAL SPODUMENE-RICH PEGMATITES DRILLED AT AREA 3 "
And of course RDN announced on the ASX some 33 minutes earlier at 8:17 am in their announcement that ..........
" HIGHEST GRADE LITHIUM AND RUBIDIUM RESULTSTO DATE FROM ANDOVER SOUTHPROJECT "
Coincidence here folks ........that AZS's drill rig mobilization just so happens to also be being sent to toward the Andover South region and closest to RDN's tenement.
I wonder what are the odds are of TWO companies exploring for the same minerals in the same general proximity announcing hand in glove almost type announcements within the same hour on the same day.......
And of course the Market also knows then that AZS has stated that Four drill rigs are continuing to define the AP0011 mineralisation and another threerigs are now testing multiple stacked pegmatites in Target Area 3. And that AP004 in Area 3 is expected to be very similar to previously identified more south easterly trending AP005.
And there is a must read paper by Zoe Phelps - Barber , a geoscientist who has represented BHP who wrote these comments in 2022 :-
" In addition, as most of the recently discovered LCT pegmatites in Western Australia are described only in company websites, there is little definitive structural information available for these deposits. The most comprehensibly studied LCT pegmatites for which there are structural data are Greenbushes in the Yilgarn Craton and Pilgangoora in the Pilbara Craton where shear zones play a critical role in the location of pegmatite swarms. "
" Due to the weak magnetic and conductive properties of LCT pegmatites, geophysical surveys cannot readily distinguish between pegmatite and adjacent granite intrusions, although geophysics can be used to determine appropriate geo-tectonic settings (Steiner Citation2019). Therefore, the use of district-scale geological surface mapping must be used to identify targets. It is key to note that pegmatite dykes can extend kilometres from the original parental magma, and therefore there is no consistent spatial association with potentially related granite intrusions. "
" Within Western Australia, pegmatites are dominantly located in Archean greenstone belts where they tend to represent swarms of normally subparallel gently dipping sill-like bodies. These gently dipping planar bodies can extend to greater depths and offer favourable geometries for economic mining in open pits. "
So we can see by the Map that Zoe included in her paper ( below ) whereby she talks of the major Greenstone belts , faults , Granite schist's and everything relating to tectonic activity associated with the geodynamic environments of plate convergence which predominantly occurred at the end of the Archean and into the Palaeozoic zones , and where Australia pegmatite has predominantly been identified in the Archean greenstone belts. Note that the geological category cut off in this Map at the bottom which highlights the area of Greenbushes is the Gneiss .
What's interesting though is she also notes that one of the numerous key ' Pathfinder ' elements which can include the anomalous high concentrations of among others like Sn , Ta , Nb & Cs , you also have these high levels of Rb .......which of course RDN has in spades.
I mean at the least I find the Geology subject very very interesting. Particularly in light of all these comparative pics from over in Canada in their greenstone belts where they clearly have the dual aspects of less overburden if yo like on account of the historical glacial contraction events stripping off and exposing these known deeper pegmatite mafic magma flow sources together with their now above ground forests protecting them from weathering So when you compare these glorious pics , you realize the main comparisons to Australia's environment whereby our overburden resulting from direct weathering , drainage and erosion through lack of forest type vegetation , its becomes clearer that our MAIN mafic magma sourced pegmatites will be mainly BELOW surface with perhaps smaller outcrops visible by surface mapping.
So one can't help wondering with respects to this Andover pegmatite ' swarm ' field...as to just where the ' SOURCE ' actually commences and where might it taper off.
As we can see by today's announcement by JBY in Quebec which concurs with the research paper by Zoe Phelps - Barber is that these ' swarms ' can be located many kilometres away from the source , and in JBY' case as they have stated 45 kilometres away from Winsome's Cancet West project and 100 kilometres away from Patriots Corvette project.
But even here back in OZ when we say compare RDN's assay table results to that of say MI6's Aston Lithium project where they're BOD is comprised by no less than 4 or 5 LTR Directors is that RDN's result in the area of these known Li pathfinder elements like Rb ,Cs , Ta , Nb etc...... , are way above those currently published by Mi6 and other peers in the and on the fringes of the ' OTHER ' large granite / greenstone belt in Australia being the Yilgarn .
So in conclusion , I cannot help but feel that RDN has something particularly special here , and which is slowly unfolding in tandem with AZS ( and others ) , and so is worth having at least a couple of prospective players in this area together with a few spread around the other prospective known geological areas of REE and Lithium potential.
So then I prefer to couple all this together with one of the Maps taken off AZS's announcement where you can clearly see the swarming trend dipping South East ....., and where if you look very closely you will see a little spot of RED pegmatite mapped right on the mid-northern most corner of tenement E47/4061 .
I have circled other wider RED mapped pegmatites which seem to obviously spell out that the corridor is much wider than even AZS asserts in their map.
And while my ' combining ' of the Maps from RDN into AZS is not exactly to scale as can be seen by the smaller depiction of tenement E7 / 4062....., you can see that by observing just the AZS map , that the 9 kilometre white trend line identified by AZS DOES extend into RDN's E47/4061 tenement and that by observing closely the distance legend , that RDN's tenements are only roughly 2.5 kilometres away from the AZS Area 3 identified zone.
So not only do we have RDN appearing to follow AZS released data or visa versa ........and it isn't the the FIRST time we have seen this - Because RDN also made a favorable announcement near the SAME day as AZS as it occurred on the 18th Sept ( AZS .....Andover delivers outstanding Lithium etc.... ) , with RDN following up with ' Andover high grade Li2O & 50 metre wide pegmatite ' etc...etc on the 19th September at 8:23 am .......24 hours later. So not only is there this aspect , but we also have AZS clearly identifying the trend into RDN as well as the mobilization of THREE rigs to this broader area.
So I don't know about you people , but my intuition tells me something is potentially UP here in so far as potentially a previously spoken about ' Collaboration '
But we also should consider in all of this , the question of ......What exactly changed to precipitate the fall in RDN in the first place.
Because on the 9th when AZS reported the metallurgical results , its SP dropped a whopping 19.5% to its lows of $1.935 from basically the $2.40 cap raise on the close of trading session on the Friday 6th September. It then reported the next day on the 10th September the Substantial Spodumene Rich pegmatite at Andover which saw it recover to a high of $2.22 and a close of $2.10 .....to then put on another near 9% today in getting it within a whisker of its significant cap raise pricing.
Having said all that , I am definitely looking forward to what sort of potential ' Tie-up ' they might be contemplating and what the next TWO respective announcements will be ......ie AZS discovers MORE lithium in Area 3 .....while RDN's results continue to display off the chart pathfinder elements and Li targeted wide pegmatites.
Can't wait
(20min delay)
