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Azimut Exploration Inc V.AZM

Alternate Symbol(s):  AZMTF

Azimut Exploration Inc. is a Canada-based mineral exploration company. The Company holds the mineral exploration portfolio in Quebec. The Company’s projects include Elmer, JB Lithium, JB Nickel and Wabamisk. Its wholly owned flagship Elmer Gold Project is advancing to the initial resource stage in the James Bay region. The Elmer property is located in the central region of the La Grande Subprovince. The property is located five kilometers (km) west of the Billy-Diamond Highway and 60 km from Eastmain, a Cree community on the east coast of James Bay. The Wabamisk property is a 40 km by 10 km gold project located about 70 km south of the Eleonore gold mine (Newmont Corporation) and has a comparable geological context and geochemical signature. Its other key projects include Chromaska, Corne, Doran, Mercator and Pilipas. The Corne property is located within the metasedimentary Opinaca Subprovince (Superior Province), close to the boundary with the Opatica Subprovince.


TSXV:AZM - Post by User

Comment by Ratso07on Dec 01, 2020 2:25am
195 Views
Post# 32007306

RE:RE:RE:Negative reaction vs interesting results

RE:RE:RE:Negative reaction vs interesting resultsThis stock has been in a downtrend ever since it spiked to $3.27 at the end of June. At that time participants on this site had predicted a 10 million oz gold deposit and a stock price of $50 per share. On July 27th the second set of drill results were finally released, were below expectations and the share price slumped. By mid-August, the short term moving avarage fell below the long term moving average (the death cross). Although there was continued optimism, the news release on September 15 caused a sharp selloff on high volume. Both the long and short term moving averages have continued to decline and the November 30th release marks the end of the 2020 exploration news on Elmer. The Pikwa drill results may offer some future encoragement for the company. In the meantime, the stock price will probably bottom after a period of tax loss selling and no news.  
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