Nice to have the gold price at our backs, but that's not my main interest for AZY to go forward, gold price is an emotional thing to attach to a share price.
I'm more interested in the big fundamental value we already have in AZY that is not shown in the capitalisation of our company .
We are probably undervalued by at least $100 EV per oz of gold.
That's without our current drilling program and that of our joint venture partners.
The amount of meters to be drilled dwarfs any other ASX gold junior at our market cap.
The other 2 main drivers are Winu (come on RIO it's been along time between drinks) and the other elephant in the room Greatland/Havieron along with Wyloo's intentions and what Newmont is going to do.
Starting to think maybe it's not a shoe in that Wyloo/GGP waltz in and takeover Telfer, could be the other way around.
Check the chart out of GGP, especially since the 18th when it was official that Newmont took over NCM................big increase in volume since, could be just that shorters are covering, but why now, the newmont takeover was always going through, they could have done that months ago.
What is more interesting is the 24th, the partners of Havieron announced that first ore would be delayed by another QTR, now not until Sept Qtr 2024, because the decline work would be halted while they determine how best to get through the third and final aquifer (could be tricky and expensive)
Anyway on that day it dropped it dropped from 7.5 to a low of 6.3, a 16% drop, but then regained most of that before the close on big volume.
Since then huge volume has been going through and it has gone up by 35% over the last 10 trading days.
Regardless of what happens on our land, big drivers exist by our big brother neighbours, and we are a very very strategic part of the puzzle due to our vast and prime land holdings and proximity to the very very hungry Telfer mill, and hopefully the winu operation. I'm not just talking about a quick takeover here of X profit, i'm thinking more of a huge and real structural wealth generation of our shareholdings over time.
It's getting to a real interesting point, our share price in no way represents anything like our true value, and i think its just about to start to play out, and maybe in a way that most people who just look and talk about our share price are not expecting.
Staying the course, and with even more confidence than ever.
(20min delay)