Ann: Updated Corporate Presentation April 2018, page-19

$1.7m if they spent the December quarter prediction. Q1 18 update soon.

So as you says some more money needs to come in from somewhere.

Citadel is free carry but how to fund anything significant for the other 4000 or so sq Kms before the kitty gets too low??



SOME THOUGHTS ON TENEMENT APPLICATIONS ETC:

Today I was taking a further look at the pegging that has gone on over the past little while.

Besides Rio, FMG applications some ground has been applied for by MINERAL & GOLD RESOURCES OF AUSTRALIA PTY LTD. Which I believe is MIN another large company.
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Toss in NCM and Bacchus to the mix of AZY needing some money to explore and some sort of corporate move could be afoot rather than a CR.

Small companies with recent pegging include Sipa, Red Metal, Alloy, Rosane and others which leaves very little ground available in the shallower cover areas.

AZY tenements have been held for some time and as shown in the Dec quarterly there was, as expected, a partial surrender of 50% of E45/2519 which Rio has subsequently applied for.

Another two AZY tenements expiry date is getting close.
24/ April 18 and 17/2/19 - (may be others).

BF's comment about tenement watchers leads to a few comments about pegging dates and locations.

Adding to the buzz around the copper find are reports from the tenement watchers in that part of the world that Fortescue has just taken up a large ground position well to the north of the Rio find. BF..

The application dates are mostly mid to late 2017 or 2018 suggesting something happened around mid 2017- BF's Rio's ?discovery being the most likely something.

I find it a bit strange that significant areas to the east and SE of the JV were added by Rio AZY and others. Pegging of prospective lithologies under shallower cover but not stratigraphic?

Rio has (at least) two granted tenements south of the Citadel JV. Application dates for these were mid 2016 so there is an indication Rio were already interested in the area beyond Citadel.