With the last few announcements that have come out and todays drilling update shows all positive signs that a resource upgrade is imminent, as the grades found are all outside the resource model. From the presentatations slides the resource upgrade is now overdue. soon as the ownership structure is sorted azx will have a great run as this will most likley get released together. a lot of instos are in from .55 so this is very cheap.
id be picking up what you can at these low levels, before it comes out and you miss the large upside movement that could come. once the ownership and resource upgrade is out, more on the maiden reserve which should be a high conversion from the resource then becomes a major project as it advances to production.
cheers
AZX Price at posting:
49.4¢ Sentiment: Buy Disclosure: Held
