Recent Gold M&A in Australia - Big Premiums on Acquisitions, page-217

I really don't look at analysts/brokers valuations.

I just look at potential & catalysts & probability.

The reason the share price is as low as it is has not been because of any failings of those 3 things.

Actually the story is more intriguing and potentially rewarding than it has ever been, and that's irrespective of the current price.

Forget about all the great things about AZY, just imagine if one of those great things comes to fruition in the next 6 months.

1) Minyari gets upgraded by another 1m ozs.
2) We hit something on our greenfield targets, remember there are 2 $Bx mines discovered on our boarders in the last few years.
2) NCM or IGO discover something interesting once their exploration campaigns get going on the JV tenements in the next 6 months.
3) RIO presses the button on Winu and wants Calibre ore
4) Greatland wants in on AZY in some form ?....They are up to something, they need to do something to justify their board, substantial shareholders,
and market cap, at the moment they are just a minor % holder of a great asset. They want control of the whole province...not sure it will play out
that way, but they are not just listing here for fun.

Again, i love the story, the multiple different plays on offer, and the potential risk to reward.

Personally i think its worth $200 - $250m on what we know as of now.............does not include anything above.