Think about this: TSX-listed exploration companies typically trade at US$200 per JORC resource oz. vs US$100/oz on the ASX- ie Canadian investors pay double for the same resource, given their more sophisticated knowledge of emerging gold regions and greater appetite for gold equities (take a look at TSX-listed Guyana Gold to get a feel for the higher valuations per JORC oz).
If we assume an initial JORC resource of 1M oz (likely to be closer to 1.5M oz), we have an indicative mcap for AZH of US$200M upon TSX listing. Plenty of upside and we are yet to aeromag the 6000 sq km of elephant country. AZH is on track to be a $2-$3 stock within 3yrs.
AZH Price at posting:
37.0¢ Sentiment: ST Buy Disclosure: Held
