I see a lot dissatisfied holders or previous holders/traders. carmat has bought back in but doesn't appear too happy, gosouth is still on the sidelines warning us of the risks. I am still holding on, but my patience is running very thin.
A letter to shareholders won't erase the pain of the dilutive placements (the latest one at 2.6 cents) and broken promises. All we want is Azure to continue drilling presto. The delays have hurt and fluffy announcements do not erase the pain. The faster they continue drilling, the more options Azure will have before cash runs dry (a JV partner may want in before the next drilling results and Azure would have a stronger position in negotiations).
One has to wonder why the share price has increased today. Is it in preparation for a larger placement of 100m shares at another discount?
Remember they only state that Promontorio is :
- a POTENTIAL company-making project.
- proving the CONCEPT of a copper-mineralised porphyry at depth
The words POTENTIAL and CONCEPT are not illuminating.
We know the porphyry is not economic at present. If the high priority target doesn't deliver any significant mineralisation the Promontorio project may struggle to get off the ground, however if it does it is GAME ON. As shareholders we want Azure to close out drilling at Cascada (see how far the south-west extends) and commence drilling the untested target from the magnetic survey.
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