I reckon that using a 1% Ni cutoff would result in a mineable (underground) body that is around 3m wide at best, and less than a million tonnes with a grade of around 2% nickel with some additional value from copper and not so much from cobalt. Even if the drillout of VC7 results in a million tonnes at 2% nickel the value of the metal contained would be short of the billion dollar number that is needed to justify the SP presently. I just cannot see that mining 1% underground would make any money. If the calculated resource at VC7 is in the 1% nickel range it will not mean much. Azure needs to drill their additional targets at Andover and get cracking on that straight away.
AZS Price at posting:
39.0¢ Sentiment: Hold Disclosure: Held