AZUMAH - Günstiges Gold aus Ghana
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Heute neue Präsentation veröffentlicht:
www.azumahresources.com.au/documents/asx100218pres.pdf
Nachbar von Ampella (auf der anderen Seite der Grenze zu Burkina Fasso), die seit Monaten abgehen wie Schmied`s Katz.
Steht vor Resourcen-Update.
Handel funktioniert sogar in Deutschland recht ordentlich.
China gold consumption to double in decade
Latest World Gold Council analysis suggests medium term outlook for Chinese gold mine supply will be challenging with demand growth expected to outstrip domestic supply
Posted: Monday , 29 Mar 2010
LONDON (World Gold Council) -
Chinese demand for gold is set to double in tonnage terms within just ten years according to the latest World Gold Council (WGC) analysis. Chinese gold consumption was worth more than US$14billion in 2009, which is equivalent to 11% of global gold demand. Launched today, Gold in the Year of the Tiger provides an outlook for all aspects of gold's supply and demand fundamentals in China.
Marcus Grubb, Managing Director, Investment at WGC, said:
"The excitement generated by the Chinese economic growth story is not new. However, clarifying the impact of China's GDP growth trajectory on the outlook for the Chinese gold market has been elusive - until today.
"Now one of the world's largest economies, China has already rapidly become a prominent gold market. However, our analysis confirms that significant untapped growth potential exists in the Chinese gold market. In China, if gold demand continues to accelerate and becomes more comparable with other major markets, WGC expects it to double in tonnage terms within the next decade, which would represent annual gold demand of approximately US$29 billion at year end 2009 average prices."
Over the past five years, demand for gold has increased at an average rate of 13% per annum in China.
The World Gold Council's key findings were:
- Chinese consumption intensity lags other major markets substantially. If gold were consumed in China at the same per capita rate as in India, Hong Kong or Saudi Arabia, annual Chinese demand could increase by 100 to 4,000 tonnes in the jewellery sector alone.
- Total gold investment demand in China has grown in line with the country's GDP and population during this period and WGC expects this trend to continue going forward.
- While China is the world's sixth largest official holder of gold, its gold reserves currently account for less than 2% of total reserves and, therefore, remain low by international standards. Even adding 10% from its current level would translate to an additional 100 tonnes of gold offtake.
- While gold demand is accelerating, WGC expects Chinese supply growth to be challenging in the medium to long term; and is likely to decline in the future.
- During the last decade, Chinese gold mining producers have stepped up gold production by 84%, however its known reserves account for just 4% of total known global gold reserves. Assuming these figures are correct, WGC estimates suggest that China could exhaust its known gold mining reserves in six years from now.
- This supply trend is only likely to reverse if China, which is still relatively undiscovered in terms of global exploration budgets, were to attract significant capital investment for exploration.
Eily Ong, Investment Research Manager at WGC and author of the report, said:
"Our analysis confirms the potential for an increasing imbalance in supply and demand in China. Gold demand has already outpaced Chinese production growth since 1992, even before the deregulation of private ownership a decade later. However, our analysis shows that if gold demand were to continue to increase so markedly, domestic supply would be unable to keep pace. Whatever the outcome, China's outlook will almost certainly have implications for the global gold market."
http://mineweb.com/mineweb/view/mineweb/en/...amp;sn=Detail&pid=1
http://stocknessmonster.com/news-item?S=AZM&E=ASX&N=486197
ASX Release
Tuesday 6th April 2010
Azumah set to increase resources after more strong drilling results
Regional exploration program intensified in push to establish multi-millionounce gold inventory to support 100,000 ounce-a-year-plus production profile
�� More excellent drilling results pave way for maiden resource estimate at the Collette deposit including; 20m grading 7.43g/t gold from 76m (ACORC070)
�� Drilling underway to extend the interim 350,100 ounce Julie resource
�� Drilling underway to extend resources in 750,000 ounce Kunche-Bepkong district
�� Lycopodium appointed to scope Feasibility Study
�� Influential Canadian broker Clarus Securities puts Azumah on its global watch list
....
....
Azumah Resources up 76%
The gold price has not been doing anything too exciting recently. In US dollars it is back up above US$1100 again. Meanwhile, in Australian Dollars it is back down to around A$1200 as the chart below shows. For Australian gold bullion investors, this is the price that matters and can take some of the fun out of investing in gold.
The Australian gold price hasn't performed like the often quoted US gold price because the Australian dollar increased so much in the last twelve months. It's like swimming against a tide.
I don't think a rising Australian dollar could hold back the kind of price increases we could see in the next ten years, if the World Gold Council's latest forecasts are correct. It reckons gold demand from China will double in the next ten years. It has already been increasing 13% a year for the last five years, reaching 423 tonnes in 2009.
The Chinese have a high savings ratio, which is a culture reinforced by the government putting the burden of retirement income onto households in the late 70's. Then the Asian currency crisis in 1997 reinforced this. Gold has a long been perceived as a great way to achieve this saving at home.
The same is true in India, where the family savings are commonly held in gold at home. I mentioned last week how the imports are rising there as well. March quarter imports are 107.8 tonnes, nearly five times the amount last year.
Meanwhile, gold production is widely expected to keep falling. Aaron Regent, president of Barrick, one of the largest gold producers pointed out last year that mine supply has dropped about 10% in the last decade. Also that ore grades have fallen 75% to 3 grams per tonne since the '50s.
The result is that global output is falling by about one million ounces each year. This confidence that we have already witnessed 'peak gold' and that prices go up from here is why all last year the big gold companies stopped selling gold cheaper in advance ('hedge books'), as it meant missing out on future profits.
Rising demand from the world's two biggest gold markets, at the same time that global gold production levels are falling. The powerful forces of supply and demand can spell only one thing in the long run - rising prices.
Our gold recommendations are all going to be pouring their first gold at different times over the next three years, perfectly in time to enjoy these rising prices.
Five months on the four stocks are up 28% on average. The star of the show is Azumah Resources (ASX:AZM), which is now up 76% after its resource upgrade to 1.1 million ounces. With much more drilling being carried out, I think it is just a matter of time before this figure increases further. Perseus (ASX RU) is up 27%, and is having another crack at $2.00. I think this stock has way further to go in the coming months and years. Gryphon (ASX:GRY) has done well in the last few weeks and is now up 15%. Adamus (ASX:ADU) is the only stock pulling our stats down.
....
Azumah Resources :- A Gold Explorer in Northern Ghana.
There are several "junior" gold Companies with operations in West Africa and AZM is but one. It attracts little attention and has only recently begun an upward surge in Share Price,, Mainly due to the recent Drilling Results and the Upgrade of its resource base.
Most of the West African "GOLDIES" surged in Share Price today, based on a Rising Gold Price. However, AZM is still very Undervalued when compared with one AMX - Ampella Mining.
BOTH have a Resource Base of just over 1 Million Ounces ( AZM 1.1 Million and AMX 1.2 Million ounces Gold ). What makes these two more comparable is their close Proximity in a Greenstone Quartz Gold Bearing area. AMX is in Burkina Faso with AZM just across the Border in Northern Ghana.
Share Price AMX = $1.525 ( today )
Share Price AZM = $0.435 ( today )
As you can see, there is a significant difference in SP which leads me to conclude that AZM is VERY under valued by comparison.
Disclosure - I own Stock in both.
http://www.stocknessmonster.com/news-item?S=AZM&E=ASX&N=485180
....
Azumah Resources up 131%, Gold stocks up 54% on average
Gold has had quite a week. It seems to be breaking out of the distribution it has been in for four months, hitting a 3 month high of $1152 along the way. The current rally seems to be on fresh fears from the Greece story.
As I mentioned last week, I think gold has a long way to go in the long term, based purely on its supply and demand fundamentals. Demand is powering ahead in its two biggest markets (India and China), and supply is falling more than one percent each year.
On a global basis, gold stocks are now at the best levels in four months. Zooming in on the Australian gold stocks with a look at index All Ords Gold Index we are at the best level in 2.5 months. Most of this will be from the big jumps caused by Newcrest's (ASX:NCM) bid for Lihir (ASX:LGL).
In the past ten years gold (and coal) takeovers have been behind 38% of the world's $515 billion of takeover deals, according to Dealogic. Now it looks like the two sectors are kick-starting the process again. What's interesting is that globally many of the smaller gold stocks have had a big jump as well. In fact their moves have outpaced the big gold stocks, possibly on further takeover speculation.
The Diggers and Drillers gold stocks that we recommended in October are powering. In less than five months, we are now looking at a 54% average gain across the four stocks.
Azumah Resources (ASX:AZM) seems to be unstoppable! Less than a week after announcing a 46% jump in resources with its Julie deposit, it's at it again. Azumah announced this week it is 'poised to increase its 1.1 million ounce gold resource inventory after receiving more strong drilling results from its Wa Gold Project in Ghana.' This time it's from the Collette deposit. We don't know how big the resource upgrade will be, but the drilling results look promising, with some samples showing 20metres at 7.43g/t.
This is all from the last 40,000 metre drilling program. What is exciting is that there is another 40,000 metre program starting right now.
It has taken recent results for the market to pay attention to what Azumah has achieved, and we seem to be playing catch up now.
I must say I am confident that Azumah still looks undervalued and should be heading higher from here.
....
Im Vergleich mit Nachbarin Ampella ( wie in #5 schön zu sehen) aber immer noch eher Aschenputtel als Dornröschen - erst bei nochmaligen 200 % sind wir auf vergleichbarem Niveau.
Und warum sollen die beiden nicht vergleichbar sein? Die bis heute bestätigten Resourcen ähnlich, die geologische Formation, in der exploriert wird, sogar die gleiche - An der Staatsgrenze zwischen Ghana und Burkina Fasa, welche das Arbeitsgebiet der Beiden trennt, kann es wohl auch kaum liegen? :-)
Auch dem Schlußsatz des Autors von #5 kann ich mich anschließen:
"Disclosure - I own Stock in both"
:-)
addition of maiden resource of 350,100oz (4.9Mt at 2.2g/t
gold) from Julie deposit
- Completed 41,000m drilling campaign
- Reported outstanding drilling results from eastern and
western zones within 6km east-west Julie structure incl. 17m
at 4.38g/t gold from surface (incl 7m at 9.76g/t gold from 4m)
- Reported outstanding drilling results from Collette prospect
incl. 20m at 7.43g/t gold from 76m ~ maiden resource
expected in June Quarter 2010
- Identified several new mineralised, laminated quartz veins
additional to main Julie and Collette mineralised structures
with rock-chip samples returning up to 6oz gold per tonne
- Commenced new project-wide 40,000m RC and aircore
drilling campaign to increase interim Julie resource and
continue resources build-up
- Advanced Feasibility Study - on track for completion by end
of 2010 - appointed dedicated Study Manager and key subconsultants
and contractors
- Completed acquisition of licences covering Julie and
Collette deposits
“Passing the important one million ounce resource milestone is a
tremendous development and highlights the outstanding exploration
upside within our extensive 3,100 square kilometre licence area of which
we have only realistically explored in any detail less than 10%”
.....
http://stocknessmonster.com/news-item?S=AZM&E=ASX&N=488684
Legendary Jim Sinclair known as Mr. Gold for his remarkably accurate timing regarding the gold bull market of the 70’s is the Founder of jsmineset.com and Chairman of Tanzanian Royalty Exploration.
Breaking Interview: On a day when the DOW closed down 430 points after falling 1,000 points and gold closed up $33 to roughly $1,210, Jim Sinclair was kind enough to spend some time making sense out of what is happening in the gold and equity markets for King World News listeners.
http://www.kingworldnews.com/kingworldnews/...0/5/6_Jim_Sinclair.html
It's all about precious metals
So why does all this matter to Australian resource investors? Well investors are selling out of Euro denominated assets, and buying into 'safe assets'. This includes the US dollar (why, oh why...), along with (the much smarter choice of) precious metals.
So gold is on the move again and has hit a new nominal high of US$1242 this week. Silver is at a two year high of US$19.64, and platinum is back within a whisker of its twenty month high of US$1752.
These big jumps are a short-term reaction, but the implications of the inevitable inflation in one of the world's reserve currencies will play out for years. We have always been bullish precious metals here at Diggers and Drillers, but the ECB's recent move is a game changer. Precious metals are now looking stronger than ever.
Anticipation of an upwards revision of long-term precious metals forecasts was behind our re-recommendation of three precious metals stocks Azumah resources (ASX:AZM), Gryphon Minerals (ASX:GRY), and Nkwe Platinum (ASX:NKP) to you earlier this week.
Gryphon and Azumah have already announced good drilling results since then, in both cases from new prospects. The West African gold sector is running hot. Indeed the entire gold sector has jumped spectacularly this week. The gold stocks within the 500 that make up the All Ords Index are used to calculate the All Ords Gold Index which is now up around 8% since Monday morning.
I would admire anyone who attempts to be bearish on precious metals at the moment, particularly at a time when the IMF is selling the rest of its 200 tons of gold. These sales historically lead to a jump in prices.
How high could gold go? We will see. QB Partners, the fund managers, had a crack at calculating its intrinsic value 18 months ago by dividing the total Fed liabilities (US$2.5 trillion) with the official amount of Fed' gold holdings (8100 tonnes).
The figure came in at US$9500!
However this figure assumes total collapse of the dollar, and reversion to the gold standard. It is a worst case scenario price. But as the currencies of the world unravel, this number may increasingly become the gold price's centre of gravity as its drawn higher.
Yet it should be pointed out that these stats are 18 months out of date, and the Fed's official liabilities are much higher now, suggesting a far higher intrinsic value. If you then use the Fed's unofficial liabilities for the calculation then you could at least add a zero to the figure!
I also admire anyone trying to be bearish about the future of platinum group metals prices right now. As a precious metal during an inflationary phase, and as a small market with over-riding demand coupled with a limited supply, it is hard to see a fall in prices in the long term, although anything is possible.
....
Rudd's shameless plunder tax (RSPT) - week two
The resource sector is still reeling from the proposed Resource Super Profits Tax, and mining executives have dug in their heels for a good fight. BHP' Marius Kloppers criticised Canberra saying the tax would threaten Australia's reputation for having a stable regime. Overseas companies such as X-Strata which employ around 5,000 people in Australia see the tax as rocking the boat. Without future certainty in the fiscal regime it is pulling out of large scale copper exploration projects in Queensland.
X-Strata's move is testament to what the industry thinks of the proposed 30% exploration credit. It's like offering you a Tim-Tam to get you to the guillotine. The global exploration budget is not unlimited and the competition between regions is fierce.
Australia's share of the global exploration budget (for non-ferrous metals) has already fallen from 18% to just 12.5% in the last ten years. This puts us behind Canada with 16%, Africa with 15%, and Latin America with 26.5%. These funds are the seeds of the resource industry. A further fall in our share of the global exploration spend now would just serve to clip the entire industry's wings for the future. The Canadians have been particularly smug about Australia's potential own-goal.
The former head of The Minerals Council of Australia, David Buckingham, reckons that Rudd government still intends to get the tax through in its current form. I still think it highly unlikely that this tax will happen, and judging by the pickup in the Metals and Mining index this week, a few others have their doubts as well. At the very least, I expect the plan will be watered down.
I'm looking out for the results of the next political poll, and expect that it will have the capacity to move the markets when it is released. This is what we saw in the UK a few months ago. When the poll correctly predicted a hung parliament, the bottom fell out of Sterling. The entire currency fell, not just the markets. If a poll shows that Rudd has indeed cooked his goose, then I think we can expect to see the resource sector benefit.
I have received many amusing emails this week getting stuck into Rudd, and unsurprisingly not one email sticking up for him. This week's winner has to be the envelope full of bizarre photocopied pictures of Kevin Rudd in 'compromising positions'. You included no details, but you know who you are!
....
Report not on website as yet so I'll just outline a few items we might not have seen already and for those who don't know, Black Swan is a highly regarded WA broking house...
*17Mt @ 2g/t for 1.1m oz atm
*Significant drilling activity identified new resources and targets for follow-up around the Bepkong and Kunche areas, including the new Aduane and Sabili targets.
*Further 40,000m drill program currently underway will test further extensions to Julie and Collette mineralised trends as well as examine Aduane, Sabili, Kunche West and possibly Bepkong north.
*FS due by end of 2010 will be expandable to 100,000 oz pa
*Future program and price catalysts include:
Maiden resource calc at Collette by end June
Drilling to test Julie extensions which are all open-ended
Follow-up drilling around Bepkong and Kunche
Aircore drilling program to test new regional brownfields targets
*Peer comparison:
-AZM 1.1M oz mkt cap $67M
-GRY 1.1M oz " " $133M
-AMX 1.2M oz " " $256M
*Buy rec based on achieving 1.5M oz in 12 months from end of March 2010 quarterly.
Ticks a lot of boxes IMO and I think we'll see ~1.5M oz for the next resource calc in mid-June by the amount of drilling being done.
Worth looking at the exceptionally high grade coming over long intercepts at Collette and note that continuous mineralisation exists between Julie and Collette.
Hope this sets it out a bit better for holders.
chick
http://www.hotcopper.com.au/...;tid=1173017&msgno=5371834#5371834
http://www.blackswanequities.com.au/home
Bei Threadbeginn stand Azumah irgendwo bei 0,14-0,15 €.
Mehr als karge 120 % erwarte ich auch gar nicht pro Quartal.
Man ist ja nicht unbescheiden.. :-)
Dear Shareholders and Investors
With debate raging about the Federal Government’s plan to apply a 40 per cent tax on the profits of Australian resources projects, I thought it may be an opportune time to share with you a leading stockbroker’s research note concerning West Africa.
The analysis by respected institutional broking firm BGF Equities draws a glowing conclusion about the growth prospects for a range of Australian-based gold companies operating in West Africa.
Analyst Warwick Grigor, who hosted a recent trip for investors to several West African gold projects, including Azumah’s Wa Gold Project in Ghana, said in his note that West African gold stocks offered greater exploration upside than Australian brownfield projects, without the technical problems associated with going back to old projects.
“A virginal open pit operation carries much less risk than deepening old pits and proceeding underground,” Grigor wrote. “Recent events have shown that geopolitical risk is escalating in Australia with a government unsympathetic to mining. West Africa is one of the hottest places to be in the gold sector and will remain so.”
Grigor went on to provide an extremely favourable assessment of the outlook for Azumah. “AZM is playing a catch-up game in the market with the shares still looking cheap,” Grigor wrote. At the time of his writing, Azumah shares were 34 cents.
“Maybe this is because the management is not as promotional as others and it is leaning towards an earlier, more modest startup operation of less than 100,000 oz pa. It continues to offer sound value with active exploration.”
Please click here to download Grigor’s note. I hope it is of interest.
I am also pleased to report that work in preparation for a maiden resource at the Collette deposit at the Wa Project is proceeding well. You may recall that recent results at Collette included 20m at 7.43gpt from 76m.
Meanwhile drilling is well underway to extend the interim 350,100-ounce resource at the Julie prospect and drilling is also taking place in the flagship Kunche-Bepkong district, where resources stand at 750,000 ounces.
The feasibility study for Wa is scheduled to be completed this year, with Azumah looking to establish a project which produces 100,000 ounces-plus a year with a long life.
Results of the various drilling programs underway will be released to the market as they come to hand.
Yours Faithfully
Stephen Stone
Managing Director
http://www.azumahresources.com.au/documents/rr100511.pdf
CONFIRMS MULTIPLE NEW TARGETS
Major Expansion Underway To Grow Wa Gold Project Resources
100,000m Of Drilling Scheduled For 2010
Highlights:
- Drilling confirms high-grade gold in newly identified, north-south quartz vein
intersecting main east-west Julie structure:
-3m at 30.19g/t gold from 7m (AJRC084)
- 2m at 81.35g/t gold from 32m (AJRC084)
- Drilling intersects more gold at Collette ahead of maiden resource estimate
- 18m at 2.95g/t gold from 77m (ACORC070)
- 4m at 3.11g/t gold from 54m (ACORC073)
- Drilling identifies new mineralisation immediately north of main Kunche deposit:
- 8m at 1.91g/t gold from 45m (KRC202)
- 5m at 1.59g/t gold from 60m (KRC205)
- Drilling identifies high-grade mineralisation south of current optimised Bepkong
open-cut perimeter:
- 6m at 8.98g/t gold from 58m and 5m at 2.98 g/t gold from 90m (BRC121)
- Substantial number of samples from continuing exploration awaiting assaying
and reporting in coming weeks
- Field team and infrastructure undergoing major expansion to support planned
100,000m 2010 drilling programme
- High definition aeromagnetic survey and extensive IP survey to commence in
June
- Stage One Feasibility Concept Study and Environmental and Social Impact
Scoping Study completed
“This latest round of drilling results highlights the excellent capacity to extend and
identify new resources at Azumah’s 3,100km2 Wa Gold Project in north west Ghana
where Azumah has only seriously explored less than 10% of the prospective area,”
said Azumah Managing Director, Stephen Stone.
“We expect to drill over 100,000m in 2010 in line with our key focus to substantially
boost resources from the 1.1 million ounces of gold we have already delineated.”
....
http://stocknessmonster.com/news-item?S=AZM&E=ASX&N=492626
Um den Kurs nach Wiederaufnahme des Handels zu halten, waren aber selbst diese interessanten Bohrergebnisse nicht süss genug..
Azumah (ASX:AZM) Steps up its highly successful drilling program
Gold has been rising for the last few weeks and is only US$20 away from another nominal high. It was pushed along this week by the news that South Africa, the world's fourth biggest producer after China, US, and Australia, continued to produce less gold. Its production fell by 16% in the March quarter against the December quarter. This means 400,000 ounces will be missing from the world's production in the March quarter, or over 1.5 million ounces this year. The world produced 90 million ounces last year, so a missing 1.5 million ounces means a lot.
Bear in mind as well the RSPT could shave a lot from Australia's production, and it is starts to become easy to see global gold production falling fast in the future. Falling production means rising prices, which is perfect for today's gold investors.
I spoke with Steven stone, the Managing Director of Azumah Resources (ASX:AZM), this week, to get an update on what is happening there. He had just given a well received presentation at a gold conference in Perth, and pointed out the presentation had just gone up on the company website.
Azumah has already finished 50,000 metres of drilling this year. Results have been so good it now plans to step things up and complete 100,000 metres by the end of the year. This is a massive program for such a small company, but the results so far definitely warrant it. And there is still about 90% of the 150Km strike left to explore. In Steven Stone's own words 'you don't find the gold unless you drill the holes'.
The drilling will be 2/3 aircore drilling in the Kunche / Bepkong regions, and 1/3 reverse circulation drilling around the Kunche / Bepkong regions and the very exciting Collette / Julie region.
The results of drilling at Julie gave the company a 40% resource upgrade earlier in the year. This got the resource figure over the magical one million ounce line, and caused a big jump in the share price.
Collette has produced stunning drilling results and the numbers are being crunched now – you can expect a resource upgrade at the end of this month.
With another 50,000 metres of drilling around projects that have given spectacular results already, I would say that significant resource upgrades from Azumah are just a matter of time. Infilling later this year should produce the first gold resource in the measured category by early next year.
The company raised A$11.6 million last week to pay for the step up in its drilling program. This went mostly to Toronto, where the shares were quickly snapped up by keen investors. I asked if there were any aspirations to list in Toronto at any stage, but Stone said this would just be a distraction to the primary focus of drilling and defining more resources.
But still Azumah looks cheap! On an enterprise value to resources figure it is the cheapest of all the West African gold stocks. All gold stocks in West Africa are getting a lot of attention and Azumah is the pick of the bunch on this basis. With a lot more drilling planned this year, the stock looks cheaper than ever.
....
07jun10
http://www.buysellsignals.net/BuySellSignals/...Australia_pdf_274.pdf
Probebohrungen auf Kunche, Bepkong, Julie und Collette wurden abgeschlossen.
Ergebnisse sollen in den nächsten Wochen laufend veröffentlicht werden!
AZUMAH COMPLETES A$11.6M RAISING
TO GROW 1.1MOZ RESOURCE INVENTORY
North American institutions broaden share register
"Results from recent drilling due soon"
http://stocknessmonster.com/news-item?S=AZM&E=ASX&N=494883
Und ein informativer Beitrag aus dem HC:
AZM - Azumah Resources to my way of thinking, is a considerably undervalued Gold Stock in West Africa.
The Boardroom Radio Presentation that Stephen Stone gave last week at the Gold Coast Resources Showroom was one of the most enlightening and positive that I have heard for a long time.
Consider the PLUS UPSIDE after you Read / Listen to the presentation!
* EV lowest to peers
* Cash to drill the 100,000m programmed
* Comparative chart of peers and Steven Stone, himself, continually mentioned AMPELLA = See my post about AZM being undervalued by comparison to AMX.
* The Drilling results to come look very positive for AZUMAH
* Feasibility study appears to be well on track for release later this year.
Remember, AZUMAH is a couple of years BEHIND Perseus Mining in defining any resource base, as well as listing on the ASX two years after PRU = THINK comparison and do your own DUE DILIGENCE.
Yes!... I see only Upside Plus for this Goldie!
Fishhy
Aircore drilling program commences at Kjersti prospect
RC drilling continues at Collette
Azumah Resources (ASX:AZM) is pleased to report that drilling has confirmed two new zones of
mineralisation in the vicinity of the Company’s flagship Kunche-Bepkong deposits at the Wa Gold
Project in Ghana.
At Bepkong, an RC drilling program comprising 21 holes has confirmed a new zone of mineralisation
just 100m west of the main 212,000 ounce gold deposit. The mineralisation is north-south trending,
steeply east dipping and vein-hosted. (Figure 1 and Figure 2. Table 1 and Table 2).
Best intercepts (from 4m composited samples) include:
 8m at 4.06g/t gold from 36m (BRC157)
 4m at 3.03g/t gold from 28m (BRC154)
 12m at 1.67g/t gold from 24m (BRC155)
This most recent drilling was designed to follow-up a high-grade intersection obtained by a preceding
round of drilling in hole BRC121 (6m at 8.98g/t gold from 58m and 5m at 2.98 g/t gold from 90m)
(refer ASX release dated 28th May 2010 ).
....
http://stocknessmonster.com/news-item?S=AZM&E=ASX&N=496585
Encouraging Results Continue From Wa Gold Project
�� More gold found at Julie deposit paving way for increase in the
deposit’s current 350,100oz resource
�� Maiden resource estimate at Collette deposit nearing completion
with recent drilling highlighting possible depth extensions
�� Drilling confirms mineralisation in structure trending south west
from Collette
�� Promising results from first pass drilling at Kjersti prospect
�� Further announcements imminent with more than 2,500 samples
awaiting assay
�� 20,000 line kilometre, high-resolution aeromagnetic and radiometric
geophysical survey completed
....
Collette
RC drilling to target the main east-west trending mineralised structure at Collette intersected further shallow
depth mineralisation and also demonstrated the opportunity for depth extensions, with best intercepts
including:
• 4m at 3.18g/t gold from 6m (ACORC198)
• 5m at 4.18g/t gold from 78m (ACORC208), and
• 5m at 4.43g/t gold from 119m (ACORC207)
These results will be added into the maiden Collette resource estimation which is nearing completion.....
http://stocknessmonster.com/news-item?S=AZM&E=ASX&N=503186