Recent Gold M&A in Australia - Big Premiums on Acquisitions, page-87

based on my estimates, azy only needs about another min 600k ounces of easy access gold at a grade about 1.8g and the updated scoping study would look quite appetising - might be doable with current cash balance. With a quick payback period a favourable equity/debt split can be achieved to fund the build costs. Only thing holding back the share price has been managements execution - went too early on the scoping study i think they may have not of factored in inflationary cost pressures. All can be excusable if they deliver over the next 3-4 months.