drilling and resource upgrade

While I have to admit that the DFS has been disappointing, I do think that the market has overreacted and the share price overshot on the way down.

At least Azumah has completed a DFS and it is out now, and the market has factored the deficiencies in the SP.

Based on the outstanding drill results, I would expect a considerable resource increase in the near future.

The recently released results from Julie looked good to me. Looking through recent announcements and the annual report, there now is a long list of outstanding drill results from:
- Kunche proximal to planned pit
- Aduane Trend between Kunche and Bepkong pits
- Basabli Prospect
- Atikpi Prospect
- Kjersti Prospect
- Collette

Also, target definition drilling has been done or is ongoing at Yagha North and South, Duri, Kuo, and Josephine.

A lot of these are close to the planned site for the plant and are likely to contribute to a substantial upgrade in resource and reserve, at least those at the known deposits.

Admittedly, AZM isn't as sexy and hasn't got a whopper of a deposit like PIR, but then again AZM has a current EV of around $15/resource ounce, and that seems very cheap.

I know it's cheap for a reason, I just think it shouldn't be that cheap for these reasons.

All IMO only, DYOR. I have been known to be wrong in the past, and a list of my errors is available on request from my wife.