I actually thought we would of seen this project develop a little further by now in terms of funding or possible plans for production. We have come a long way to get to where we are but it seems like we continue to grow and grow our resource but yet to make that next step to becoming a producer.
I know the director mentioned in a previous article that we are only an exploration company and our goal is to expand our inventory at the moment. He also mentioned that AZM would most likely be on the radar of other companies and he would not be surprised if another company made a play for AZM.
Funding or a JV will eventually come in my opinion. The more resources that we descover, the more undervalued we become and a likely target for a takeover or JV.
Management have done a good job at contiueing to increase our resource, which should likely see it reach > 3 Moz.
Not many other gold companies on the ASX with a gold resource/reserve of our size and a MCap this low. Possibly one of the lowest MCap/Resource values ive come across.
Hopefully this round of drilling doesn't use up the remainder of our cash though as i too would be pretty disappointed with a CR.
AZM Price at posting:
2.6¢ Sentiment: Buy Disclosure: Held
