Banter and general comments, page-1127

You missed the best part

Canaccord’s particular bullishness comesthrough loud and clear in a research note dated June 27.

“Azurehas only scratched the surface, having drilled a 400m strike zone of pegmatitesin a field of over 700 mapped pegmatites within a zone that stretches 9km x5km. Suffice to say, the scale potential is massive, in our view,” Canaccordsaid.

“Ourinterpretation implies a mine inventory of 65-75Mt from the 400m strike alreadydrilled. Given this 400m is part of a 2.2km long pegmatite trend, we view aresource in the region of 100Mt as a realistic initial goal for AP0011, AP0012and the neighbouring pegmatites, and use this as the basis for our EV/ Resourcemultiple valuation.

“This100Mt does not include the exciting opportunities Azure has further afield atAndover, including Cuprum Via. For now, we centre our valuation on 100Mt andawait further success but concede that 200Mt is not inconceivable for Andoverover time.”