A reserve target of 1.0 million Oz was never out of the question...

A reserve target of 1.0 million Oz was never out of the question - more a question of how long it would take to prove.

I actually reckon they are shooting for a much higher reserves target as this will be a mine camp with lots of satellite ore bodies that will support a long mine life.

Yesterday's results tell me that they will get to teh reserves target much sooner than the market currently thinks.

The market is still a tad cynical about AZM because it ran out of money during the gold bear market.

That is no longer an issue with Ibaera on board and a huge campaign under way.

If they can move average grades up with additional high grade tonnes below the open pit resources, then average unit costs will tumble and the valuation will move materially higher.

All aboard - lots more good news still to come.........

GLTA