Cash last stood at 5.2m - If you factor in a quarter of spending...

Cash last stood at 5.2m - If you factor in a quarter of spending we're atleast sitting with 3m in the bank. No need to raise until we're well into next year and at much higher share prices.

Rio is spending big on the JV/Citadel and they've elected to do additional AEM before year end which was not originally planned. This is to generate big blue sky targets for early 2019 drilling, the data is already being analysed now and likely will be released over the next few weeks.

Drill program planning is well underway and don't forget we've just conducted our own AEM on our 100% owned land adjacent to both Rio's discovery at Winu and Greatland's at Havieron. Drilling to commence first quarter 2019 so expect an announcement very soon on target identification.

All these targets are going to be revealed very soon - I'm betting the lows are in, no reason for AZY to not find a bottom here and bounce strongly as gold in AUD terms is up near all time highs and we've seen what could be the two biggest discoveries in decades made adjacent to AZY's tier 1 exploration package.

Factor in that we have a resource of just under 1moz on our 100% owned projects next door to Telfer and you have a huge buffer / margin of safety. This alone justifies a market cap and share price multiples higher if a deal can be struck with NCM. Buying here is a no brainer for me. I love bargains like these where your downside is covered and your upside is the sky.