AZM looks poised to move higher. They are largely de-risked in the sense that they already have a large proven resource base ( 2 million oz resource including 624 000 in reserves) and a high level of knowledge of the associated costings through their completed feasibility study.
Yes, the margins are not spectacular at the moment, but..... with a rising gold price, a new high grade discovery at Manwe, which is not currently included in the project study, and further drilling over the dry season, the project economics will only improve from here.
As the gold price moves higher I think we will see an increased interest in AZM from Australian and overseas investors searching for value in the gold space.
AZM is still one of the cheapest gold stocks on the ASX working off mineable oz to market cap according to the gold mining stats released by goldnerds today.
AZM in my opinion is one of the most leveraged gold stocks on the ASX to a rising gold price.
AZM Price at posting:
5.2¢ Sentiment: Buy Disclosure: Held
