RE:RE:RE:RE:RE:RE:RE:RE:Double the resource should drive up stock price Lets get realistic here !
This may be the last hurrah for AZX with almost 500 million shares out, at this stage of development,, the next resource update Jan 2018 could be the end for AZX.
AZX will either be bought out “as is” or will have to come to terms with a share consolidation . AZX is not even close to ICG in terms of development, ICG had a NS 43-101 resource update with 25mt drill spacing put into a PEA that delivered confidence in the resource and costs to mine that resource at the #4 Plug & Triangle Zone.
At the development stage AZX is at now on Orenada it would not be worth selling until drilling in done. AZX needs to spend another $40 to $50 million in order to build confidence in a mineable resource and put out a PEA !
ICG spant about $160 million on development.
If AZX does invest that kind of money in Orenada,, just like ICG invested in the Triangle Zone AZX could come up with a decent takeover price.
AZX will have to come to terms with the 480 million shares out in order to obtain additional financing or bring in a JV partner who could spend that kind of money,,,,, what would that cost AZX in terms of ownership of Orenada
AZX is caught between a rock and a hard place here with having 480 million shares out at this early stage of development ?
M2