Your concerns are valid, Prosperity, however some issues need a second thought.
Production was not promised in 2015, it was said to be possible, and that was before the JV changed all plans and predictions. The company said it was possible, and they were thinking of the epithermal veins, which can be mined relatively cheaply, with a developmental cost of about $40M.
As for the JORC on Cascada, I believe there are valid reasons as to why it has been delayed. We need to believe the company in that assertion.
Yes, the last CR was a fail, however I believe this current one will succeed. The $1M has been underwritten and virtually guaranteed by Patersons.
For the company to succeed, this CR should be supported. If the present shareholders don't support it then the overhang will be taken up by clients of Patersons.
AZS Price at posting:
1.5¢ Sentiment: Hold Disclosure: Held
