Have a look at Ampella mining for example who are exploring in the Burkina Faso.
Similarities are the grades at depth and similar lengths of strike. They kept hitting gold intersections after intersections after intersections. Could be the same story for AZH if they keep finding similar intersections as they drill along the strike and at the other deposits.
Ampella trading at $2 per share (MCAP = circa $410m based on 204m shares on issue)
they have a resource of 2.2m oz
AZH trading at $0.45 per share (MCAP = circa $152m based on 336m shares on issue)
No resource yet define but the market cap suggests the market has almost priced in the 1m ounce resource compared to Ampella.
Assuming no more share issues and a maiden resource of 1.5m ounces
MCAP should be around $320m which suggests a SP of around $1
However, considering their intersections and undrilled land this could go much higher.
AZH Price at posting:
45.0¢ Sentiment: Buy Disclosure: Held
