Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>When lithium mining play <strong><a href="https://www.smartkarma.com/entities/azure-minerals-ltd" target="_blank" data-smartkarma-citation="entities:16538:1" rel="noopener">Azure Minerals (AZS AU)</a></strong> was halted this week "<em>regarding a potential change of control transaction</em>", <strong><a href="https://www.smartkarma.com/entities/sociedad-quimica-y-minera-de-c" target="_blank" data-smartkarma-citation="entities:24555:1" rel="noopener">Sociedad Quimica y Minera (SQM/B CI)</a></strong> was the obvious suitor.</li>
<li>This was confirmed this morning with a <strong>A$3.52/share Offer</strong>, a 44.3% premium to undisturbed, by way of a <strong>Scheme</strong>. A concurrent conditional <strong>off-market takeover at A$3.50/share</strong> is also present. </li>
<li>$3.50 is locked in, no matter what. Gina may take her stake up to 19.9%, but it won't affect the A$3.50 floor. But it <em>may</em> kickstart a competitive bidding situation. </li>
</ul>


When lithium mining play Azure Minerals (AZS AU) was halted this week "regarding a potential change of control transaction", Sociedad Quimica y Minera (SQM/B CI) was the obvious suitor.
This was confirmed this morning with a A$3.52/share Offer, a 44.3% premium to undisturbed, by way of a Scheme. A concurrent conditional off-market takeover at A$3.50/share is also present. 
$3.50 is locked in, no matter what. Gina may take her stake up to 19.9%, but it won't affect the A$3.50 floor. But it may kickstart a competitive bidding situation. 


Gina Can't "Liontown" SQM's Bid For Azure

<ul>
<li>Lithium mining play <strong><a href="https://www.smartkarma.com/entities/azure-minerals-ltd" target="_blank" data-smartkarma-citation="entities:16538:1" rel="noopener">Azure Minerals (AZS AU)</a></strong> went into a <a href="https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02728538-6A1175570?access_token=83ff96335c2d45a094df02a206a39ff4" target="_blank" rel="noopener">trading halt</a> Monday (23 October) "<em>regarding a potential change of control transaction</em>". That halt has been extended to <a href="https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02729716-6A1176088?access_token=83ff96335c2d45a094df02a206a39ff4" target="_blank" rel="noopener">Friday morning</a>. </li>
<li>The obvious suitor is <strong><a href="https://www.smartkarma.com/entities/sociedad-quimica-y-minera-de-c" target="_blank" data-smartkarma-citation="entities:24555:1" rel="noopener">Sociedad Quimica y Minera de C (SQM/B CI)</a></strong> with 19.9%, who approached Azure with a $2.31/share Offer in August but was <a href="https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02697432-6A1163203?access_token=83ff96335c2d45a094df02a206a39ff4" target="_blank" rel="noopener">rejected</a>.</li>
<li>Mark Creasy, a major shareholder in Azure and also a direct stakeholder in Azure's flagship mine, is the key. <em>Should</em> a firm Offer unfold, expect a chunky premium. </li>
</ul>


Lithium mining play Azure Minerals (AZS AU) went into a trading halt Monday (23 October) "regarding a potential change of control transaction". That halt has been extended to Friday morning. 
The obvious suitor is Sociedad Quimica y Minera de C (SQM/B CI) with 19.9%, who approached Azure with a $2.31/share Offer in August but was rejected.
Mark Creasy, a major shareholder in Azure and also a direct stakeholder in Azure's flagship mine, is the key. Should a firm Offer unfold, expect a chunky premium. 


External broker reports(aggregated public sources), Canaccord Genuity

Canaccord Genuity

External broker reports(aggregated public sources)

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Equity Bottom-Up

<div><div><div><div><ul><li>The best yet: Azure Minerals (AZS-ASX) continues to grow the emerging Andover lithium discovery, releasing assays for a further two holes at the 60%-owned project located in the Pilbara Region of Western Australia.</li><li>One diamond hole and one RC pre- collar with diamond tail have extended mineralisation out to over 1,800m along strike and down to 400m vertically below surface.</li><li>The AP0011 pegmatite remains open along strike to the southwest and appears to be thickening at depth according to AZS. </li></ul></div></div></div></div><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

The best yet: Azure Minerals (AZS-ASX) continues to grow the emerging Andover lithium discovery, releasing assays for a further two holes at the 60%-owned project located in the Pilbara Region of Western Australia.One diamond hole and one RC pre- collar with diamond tail have extended mineralisation out to over 1,800m along strike and down to 400m vertically below surface.The AP0011 pegmatite remains open along strike to the southwest and appears to be thickening at depth according to AZS. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Azure Minerals Limited - "I Don't Usually Do This"...

<div><div><div><div><ul><li>Azure Minerals (AZS-ASX) has published an Exploration Target of 100-240Mt<br>grading 1.0-1.5% Li2O for the 60%-owned Andover Lithium Project located in the Pilbara Region of Western Australia.</li><li>The Exploration Target is quoted on a 100% basis and covers just Drill Target Areas 1, 2 and 3 as defined in Figures 1-3 overleaf.</li><li>The Exploration Target is conceptual in nature and does not include the numerous pegmatites mapped outside of the Target Areas across the 9km long and up to 5km wide mapped pegmatite swarm at Andover. </li></ul></div></div></div></div><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Azure Minerals (AZS-ASX) has published an Exploration Target of 100-240Mt grading 1.0-1.5% Li2O for the 60%-owned Andover Lithium Project located in the Pilbara Region of Western Australia.The Exploration Target is quoted on a 100% basis and covers just Drill Target Areas 1, 2 and 3 as defined in Figures 1-3 overleaf.The Exploration Target is conceptual in nature and does not include the numerous pegmatites mapped outside of the Target Areas across the 9km long and up to 5km wide mapped pegmatite swarm at Andover. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Azure Minerals Limited - Exploration Target Shows Potential for 240Mt

<div><div><div><div><ul><li>Stepping out along strike: Azure Minerals (AZS-ASX) continues to grow the emerging Andover lithium discovery, releasing assays for a further five diamond holes at the 60%-owned project located in the Pilbara Region of Western Australia.</li><li>Three of the five assays are extensional (strike), growing the strike out to ~900m of a 2,220km zone currently being assessed in this initial phase of drilling by AZS.</li><li>One of the holes has extended known mineralisation up dip on a section (B-BB, Figure 3 overleaf) that previously only had one data point in hole ANDD0215; while the fifth hole released today has twinned hole ANDD0219 (section A-AA, Figure 2 overleaf), which was previously abandoned due to drilling issues, and has extended mineralisation down dip.</li></ul></div></div></div></div><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Stepping out along strike: Azure Minerals (AZS-ASX) continues to grow the emerging Andover lithium discovery, releasing assays for a further five diamond holes at the 60%-owned project located in the Pilbara Region of Western Australia.Three of the five assays are extensional (strike), growing the strike out to ~900m of a 2,220km zone currently being assessed in this initial phase of drilling by AZS.One of the holes has extended known mineralisation up dip on a section (B-BB, Figure 3 overleaf) that previously only had one data point in hole ANDD0215; while the fifth hole released today has twinned hole ANDD0219 (section A-AA, Figure 2 overleaf), which was previously abandoned due to drilling issues, and has extended mineralisation down dip.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Azure Minerals Limited - Extending Along Strike

Australia

Azure Minerals Limited is a mineral exploration company. The Company is developing mineral mining projects located in Sierra Madre Occidental mining province in northern and central Mexico.

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Azure Minerals (AZS AU)

Gina Can't "Liontown" SQM's Bid For Azure

The two-pronged approach sets a clean floor going forward at a minimum A$3.50/share. Trading tight at A$3.49/share. If you think this transaction...

David Blennerhassett

Azure (AZS AU): SQM The Likely Suitor

Mark Creasy, a major shreholder in Azure and also a direct stakeholder in Azure's flaship mine, is the key. Should a firm Offer unfold, expect a...

David Blennerhassett

Azure Minerals Limited - "I Don't Usually Do This"...

One diamond hole and one RC pre- collar with diamond tail have extended mineralisation out to over 1,800m along strike and down to 400m vertically...

Canaccord Genuity

Azure Minerals Limited - Exploration Target Shows Potential for 240Mt

The Exploration Target is quoted on a 100% basis and covers just Drill Target Areas 1, 2 and 3 as defined in Figures 1-3 overleaf.

Canaccord Genuity

Azure Minerals Limited - Extending Along Strike

Three of the five assays are extensional (strike), growing the strike out to ~900m of a 2,220km zone currently being assessed in this initial phase...

Canaccord Genuity

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