Sprott Sales Thoughts (Overnight news) Please read the following news from Sprott which is very interesting and positive for AZM. Sprott is a reliable source of information (most of the time).
FYI
OVERNIGHT NEWS
Azimut Exploration, Inc. (AZM-CA, C$143.87m Mkt Cap) – 61m @ 1.44g/t, 58m @ 1.1g/t, in core area, at around 300m down hole, then 2m @ 10g/t and 2m @ 8g/t from 150-230m drilled on shallower flanks, currently drilled to 450m, flags potential for kilometre scale vertical extent. Long synopsis of core hits, and pointing to depth extent, is effectively 'doing the maths for people' (who don't get our research). Met with CEO recently, what I had missed is that this entire ore body is an intrusive stock, so the complete vein orientations are irrelevant as they'll mine the whole lot. Today’s drilling lifts our maths from 690koz to 715koz as we don't have any growth in high-grade core, and big hits were already capture from prior drilling, but we are seeing nice widening of central part of ore body. Add 50m past drilling for pro-forma for a 43-101 and looks to be around 850koz, call it >900koz if lower grade cut taken. Why I like it is mining the plug should be cheap, so can pro rate ~2koz/vm to 1km for 2Moz, and that before satellitesYI