re: Ann: AZUMAH RAISES A$4.24M TO ACCELERATE ...
Always good to make a profit! Nice work.
I'm holding out longer term to see how this drilling program goes. The market is factoring in over 1m ounces down the track, but if they have another blind discovery like Bepkong then they could be worth a lot more.
Current EV to oz au is $48.70. The average of the 30 gold stocks I follow is $125.
Lets assume they double their resource in the next 12 months to 1.5m ounces.
That puts their EV to oz au back to $24.50.
So, I am taking a stab that they extend their current resourse base at Bepkong and Kunche by 100k or so ounces, get a maiden JORC at Julie and Josephine of over 300k (Julie has a historic non JORC 300k already), and discover something new adding up to the extra 750k ounces to reach the 1.5m...
Speculative, but prospective.
SDG
AZM Price at posting:
27.5¢ Sentiment: LT Buy Disclosure: Held
