Sorry i forgot about the additional shares that could be applied for. It would of been good to have had the rights issue fully subcribed, considering it was done at nearly an all time low. I guess until the gold is out of the ground the company will remain unnoticed.
Yes true, the share prices has fallen considerably since last year where it was already undervalued considering our overall resource. I still yet to understand what i cant see which would justify our low MCap.
We have a large resource and reserve, plenty of cash already spent on explorations, have continued to expand our resourse with every drilling program, government acceptance, reasonably low cost to mine and close to nearby infrastructure.
In my opinion the company is considerably derisked and have a proven and established resource of gold.
Also has one of the lowest EV/Resourse Oz values i have come across but our SP still continues to fall.
Just a matter of time until we come on the radar and people see how undervalued the company really is.
AZM Price at posting:
2.3¢ Sentiment: Buy Disclosure: Held
