"Maybe the problem is the market see them as just drillers. Certainly this Ann and previous ones are heavily focused on drilling." - because that's what they are. AZY is exploration company. They may opt to develop one of their discoveries or they may not.
If AZY opts to stay as pure exploration play but drill out Minyari to prove it is Tier 1 deposit then they will sell it and pay one-off dividend. Either way it will reward shareholders nicely.
As long as AZY keeps showing wide intercepts with high grades at depth it will demonstrate there are high grade zones that can allow for bulk mining and that will attract the interests from the majors. I am sure both NCM and RIO read all these results closely.
Ann: Further Outstanding High-Grade Gold Results at Minyari, page-16
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