Ann: Quarterly Activity and Cashflow - 31 December 2021, page-35

I think your first and last sentences went to the heart of AZY's market woes,@salpetie: "...pretty much as expected", and "...only spectacular results are rewarded."

For the share price to stop its slide, maybe even go up, results have to be really special. The fact that they're not will only disappoint investors who have been led – or have led themselves – to believe that AZY is on to "something big here" (I quote from Power's interview with * in April last year). Results that are reasonable, good, and in some cases very good, just won't cut it, as is evidenced by the failure of all the announcements since April to move the share price.

I'm one of those who bought in and kept buying on the back of the strong narrative and the pretty good results, averaging 3.5 for my core shares. Hitting 3.4 last week was a real alarm bell. That wasn't due to global factors, or market manipulation, the price of gold or bot trading. It was just normal market dynamics at play after investors read the latest report...i.e, there's more people who want to sell than to buy. That's been the case for at least the two years I've been in. With a few exceptional days in between.

I hope future finds, results and maybe a greatly-enhanced MRE, boost the share price a bit. But, given that results for about 100,000 metres of drilling this year – much of which is very good – has produced no upward effect at all, it's a bit of a stretch to think the remaining 25,000 metres of pending results will turn things around. Who knows. Maybe within those results are the keys to El Dorado, but somehow I doubt it. With that in mind, I'll now start selling down my core shares. I'll hold at the level that I think reflects AZY's status as a risky spec stock. So I'm in between a "sell" and a "hold" sentiment.