There is no doubt in my mind that Auzex can successfully develop the Bullabulling gold mine as a highly profitable open pit. It has many similarities to the assets inherited by Integra and Catalpa which are now both valued at $300-$400M market cap. Given AZX is currently valued at $30-40M then it is no streth to imagine that in Q1 2013 (less than 30 months away) on gold pour that it will also have a similar market cap to IGR and CAH. The management are mostly former Ross Mining so the talent and experience to achieve this is present and they also have alot of skin in the game (12.1 million shares between all directors according to broker report not including options.) Imagining a 1000% return in 30 months this is equivalent to an anual return of 400%!! Not bad I think. Better than a term deposit. Does anybody disagree that this is a real possibility??
Disclaimer: This is not financial advice. DYOR.
AZX Price at posting:
49.4¢ Sentiment: LT Buy Disclosure: Held
