Azure Minerals (AZS)
Tony Rovira’s Azure Minerals has confirmed its status as the go-to silver stock in this market after having put out a maiden resource estimate of 26 million ounces for its Mesa de Plata deposit in northern Mexico, hard up against that wall Donald Trump says he will build.
There is a high-grade core to it and its very much just the start, with more drilling underway to determine the full extent of the mineralisation.
It is worth noting that BMO Capital referred to earlier is also tipping silver prices will take off, tipping $US22.50 an ounce from the current $US17 an ounce in the first quarter of 2017.
Azure was 3.9c a share when this space pointed to the unfolding silver story in November last year. It is now 4.2c for a market capitalisation of more than $50m.
Azure has just added a gold leg to its story, with the Loma Bonita prospect some 200ms from Mesa de Plata returning some impressive gold hits, including a 27m intersection grading 4.1 grams of gold a tonne.
Rovira reckons the company is on to a gold project with excellent silver credits which could sweeten up project economics for Mesa de Plata when it gets around to some serious mine planning. And who knows, Loma Bonita could in fact become the main game.
AZS Price at posting:
4.2¢ Sentiment: Hold Disclosure: Held
