As some other posters have noted, going mining for smaller co's is absolutely fraught with danger. There are often issues and small co's without significant capital often go broke during development and commissioning stage and even once in production (when commodity prices turn down). Over the years I've lost my shirt a number of times investing in these developers and small producers and nowadays I generally steer well clear of them, especially if they take on debt to get into production. Recent failures or strugglers that spring to mind include GCY, SO4, KLL, AMI, AIS, CAI and Heron, who's base metal development at Woodlawn was a disaster.
Nowadays I look to sell out on price spikes following strong drill results prior to project development, or at the takeover stage. In the case of AZY, IMO the co is attractively priced with a market cap of only $50 million, which is not a lot when you consider their resource base and JV interests. They have significant upside potential from JV and 100% owned drilling and if they can increase the resource at Minyari they may also get takeover interest from Newmont. IMO the risk versus reward at the current market cap is attractive.
GLTA & DYOR
AZY Price at posting:
1.2¢ Sentiment: Buy Disclosure: Not Held
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