I just had a quick look at this company and see that management burnt through 22.7 million dollars of shareholders funds in 12 months from 1-1-2012 to 31-12-12 They also rewarded themselves with large parcels of performance shares The burn rate is 5.7 million per quarter & with 5.4 million in the kitty as of 31st December,should be out of cash by the end of March, which has already gone Another $20 million capital raising coming & for what? 850,000 ounces still in the ground Not here to give advice to existing shareholders, just presenting some facts that I think you should be aware of Where did all the money go?
AZM Price at posting:
8.2¢ Sentiment: Sell Disclosure: Not Held