AZM have about 500k oz au JORC'd at the moment and clearly have the potential for 1m oz au, with their target being somewhere between 1 and 2m oz, and a stand alone operation at their Wa-Lawra Gold Project in north-west Ghana.
Have 81m shares, trading at 10.5c, mc = $8.5m
At 500K their oz to mc ratio is 17. At 1m oz the ratio is 8.5.
As a guide, explorers generally sit around 30ish, developers 60-100, and producers 150-200.
It's currently undervalued.
AZM Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
