RE:Talked to AZX CFO at PDAC today !M2,
Thanks for reporting in.
It was good that you had a chat with the CFO, the money man. He's one of the 2 that the names still appear on the Fact Sheet for the senior Management Team (the othe person is the VP Exploration). These 2 fellow are the key figures in this group. Henry appears to act as an Interim CEO (I don't think they have any intention to search for a "permanent" CEO). But the CFO would be in the position to tell the finance game plane. It would appear that he also found the $20M equity financing is not palatable. Great.
Presumably, he would have direct input to the BoD with respect to the price of Au in the ground of AZX. Actually, the BoD knows this (even us know), and it's is lot more than $30/oz (more like close to $100/oz for some neighbour), then the bidding price for AZX assets, (1.41 +0.6 +1.0) = 2 + 1 = 3Moz, would start from way north of the current Mkt Cap of ~$43M.
The current AZX Mkt Cap (@0.09) is undervalued by, at least, a factor of 2, using the rock-bottom value of $30/oz, or a factor of 4.5, using the average value of $65/oz. Note: The 0.6Moz is the additional ounces from the updated RE for Orenada. The 1Moz comes from Manitoba.
GH
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Marine2 wrote: While at the PDAC today I had time to talk to AZX CFO,,, and it’s like I have been posting here for the 3 years,,, AZX has ran the limit on the share count, no more dilution. Financing the $20 million even pricing in flow through shares so under values the company that an alternative has to be conceded.
JV have their own set of problems and rollbacks just create another kind of dilution. It sounds like after the up dated RE comes out AZX will be sold to the highest bidder. IMO
In my opinion Eric had it coming, you can’t keep issuing shares with out a rising share price now the board is forced to act,, fortunately AZX has a good asset to sell and make everyone rich,,, or just a little more wealthy !
M2
PS;
It's like I said,, you can't keep issuing shares with out a raise in the share price price,, it eventually comes to an end !