Reading through this qtrly - I'm mildly encouraged. I don't know what they did but the administration cost was down to 500K this qtr, compared to 880K in previous two quarters. The management obviously realised that you can't continue spending 3.5M a year for admin in a company with MC only 17M.
So that's looking up - however I'm doubtful if the management has the appropriate skill sets to develop a mine let alone getting the finance.
But if they somehow are able to obtain the finance for the mine due to, say, POG creeping up a little higher (eg $1600), I think AZM will be a great stock to own because everyone has written it off, more or less. Therefore the bounce to the upside will be amazing.
But let's admit it - this one is a bit of gamble I'm happy to punt.
PS: I might actually accumulate a bit more if it goes down around 0.04
AZM Price at posting:
5.1¢ Sentiment: Hold Disclosure: Held
