AZS have to make periodic payments to keep their flagship Promontorio project. They purchased it in May 2008 and need to pay US$50,000 every 6 months with about a US$2M payment at the end of 4 years.
The only way they can do this is to get decent increases in the JORC resource at Promontorio so shareholders support more SPP to keep drilling and pay the final amount. Expect more SPP's assuming they can get support to keep going.
The intial JORC of 502,000T was a joke and they will have to do much better to survive.
AZS Price at posting:
3.7¢ Sentiment: None Disclosure: Held
