Ann: Acquires 69,000 oz High Grade Julie West Project-AZM.AX, page-5

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Fortunately this is a high grade deposit (no idea what the strip ratio would be) so it should be lucrative to mine if the strip ratio is reasonable. The 4% royalty payment is on top of the govt royalty which in Ghana is higher than what we have in WA, I think they charge 5%, so the costs add to production outlays.

AZM could run a bit given that it has a reasonable resource/reserve and the low share price, but there are plenty of shares on issue so I would expect a pullback - its been pretty volatile share, now trading at 5 cents.

I am sure nobody takes any notice of my posts and the current share price move is purely speculation based on the general interest in the goldies.

loki