Ann: Drilling Restarts at Andover Nickel-Copper Project, page-25

I have no issue with being wrong with my calls (but rarely am), though unlike most on this forum, I choose to critically analyse market announcements before taking them at face value.

It's the responsibility of every company to portray themselves in a positive light, and Azure have done well at this.

The tell-tale sign that something was wrong with today's announcement, would be the collapse in share price.

No doubt Investors were expecting a focus on drilling and resource definition at VC-07, and they had $15 million allocated to that. Tick.

Another $5 million was allocated to "Other Expenditure at Andover", plus another $3 million to "Other Andover Studies". But only 1 of the other 12 EM conductors are being tested with $8 million? Cross. Make that Big Cross.

I believe investors wanted more of those other EM conductors drilled.

Sure there are technical factors at play here too (which I've explained before - like the 100 day moving average at 44 cents that could serve as a base in this endless sell-off) which may have contributed to falls today, but I do believe a disappointing announcement was the main culprit.

Those who disagree should feel free to provide an alternate theory as to why Azure is down 5% today.