Ann: 40,000m multi-target drilling campaign underway, page-8

Gold won't move substantially higher until the US dollar rolls over, and that won't happen until the Fed is forced to cut rates, which they will do in the next recession.
This is the second longest expansion in the history of the US, soon to be the longest, it won't last forever.
Even if the gold price doesn't move a lot over the next year, AZM should move higher if they can get close to 1 mill oz's in reserves.
From what the MD has said, this is the main hurdle AZM has to overcome to attract finance to get this mine into production.
From the last DFS produced the 600 000 or so ounces in reserves wasn't enough to justify the capital outlay, the numbers didn't stack up without the gold price being north of $1400.
With these extra ounces, the project metrics should improve a lot, even if the gold price stays around the 1200-1300 level.