AZS Secures funding to advance Mexican Silver Discovery, page-69

Article on Yahoo 5 hours ago

https://au.news.yahoo.com/thewest/wa/a/29622711/creasy-throws-1m-into-azure-raising/

Mark Creasy has stuffed some of the cash liberated from the sale of Sirius Resources’ into Mexico-focused silver explorer Azure Minerals, taking the lions share of the company’s $1.5 million capital raising.


Mr Creasy took $1 million of the 1.6¢ a share placement, and is believed to have topped up his holding in the junior explorer to just over 8 per cent.


He is understood to have held about 3 per cent of Azure before its latest capital raising.


Azure shares took off last week after the company announced the discovery of what it believes will be a significant silver deposit at its Mesa de Plata project in Mexico.


Its shares were trading at around 1¢ ahead of the release of the drilling results, which included a 9m width grading 1235 grams a tonne silver within a broader 39m intersection grading 347g/t silver.


Azure shares hit a nine-month high of 2.3¢ after the discovery but fell back yesterday to close at 2.1¢ in the wake of the capital raising.


An unnamed US resource fund kicked in the remainder of the $1.5 million cash top-up, which will be used to fund further drilling in Mexico when Azure receives environmental permits, expected in the next four to six weeks.


Silver sentiment remains weak. Silver was trading at $US14.79 an ounce last night, only a little above the six-year lows of $US14.24 in late August.