Ann: Quarterly Activities and Cashflow Report - December 2023, page-17

Historically Q1 (Jan to March) each calendar year is AZY's lowest cash spend (in the $1 millions) followed by Q2.
The biggest outlays are generally in Q3 and Q4 each calendar year.
To be expected as the drills are running from say April thru to year end and then assay results, review and planning during the wet season is the standard pattern of spend by explorers in this region.
Our last two cash raises were around Sep 2022 and Sep 2023.
Sentiment is currently rock bottom in gold sector. Gold continues to trade just below the breakout area and gold stocks are trading as if ultimately the attempted break up will fail and gold price will fall.
Sentiment will change in a flash if gold does finally break upwards and the sector as a hole will see an inflow of money. That break upwards will be a great catalyst for all gold stocks. That's on high watch for me.
AZY has follow up drilling Phase 3 at GEO-01 and maiden drilling at 3 high potential Pac-Man targets starting March 2024 with a substantial part funded by WA Govt grants.
5,589 metres of air core drilling completed around GEO-01 and assays expected late Feb.
IGO farm-in has 6623 metres of assays pending with further drilling of the planned program set to recommence Q2 CY 2024 (IGO funded)
We've yet to hear what Newmont are planning in respect of Wilki this year and in particular any fast tracking of the new very large 3km long by 1.5km wide gold target named Parklands, recently identified and located just 10km northeast of Telfer under shallow cover. Newmont has the financial means to fast track exploration here and that will be 100% their cost.