AZS 3.23% 32.0¢ azure minerals limited

company confirm drilling results due very soon

  1. 5,331 Posts.

    much like I was able to get a bit of info from Peter McNeil on FNT, Tony Rovira of AZS has been kind enough to reply to my email from the other side of the world in Mexico within 30 minutes quite amazing.

    Looks like he is lining up a listing on the TSX, being very coy about larger institutional involvement, which would account for the large volume on Tueday and Wednesday.

    Also sampling/drilling results due to be released very soon.

    Due to the high grade nature of previous results, the new set of results has the potential to move the shareprice significantly.

    Very much reminds me to the run up of FNT when I found out the date of the release of the Resource upgrade for Kodu.

    Tony is very well respected in the Australian mining community, and is responsible for the discovery of the Cosmos Mine for Jubilee Mines (JBM)

    Anyway here is the Q&A

    Dear Michael,
    I'm currently in North America visiting both Mexico and Canada. In response to your queries, please see answers below.
    Best Regards,

    Tony Rovira
    Executive Chairman


    I am currently a member of a couple of different share forums in which quite a few of our members are now holders of Azure shares, and as an exercise of saving time we have come up with a list of questions for Azure management rather than bombarding the company with individual phone calls.

    I hope the management of Azure will be able to find the time to respond as it is always good to see a company that cares about its shareholders.

    Anyway here goes

    1. What is the current statuts in regards to the drilling results from La Bufa, has the company received the latest results or are they still awaited from the lab?

    Results are taking 3-5 weeks to get back from the lab. At this stage we only have results from about half the samples submitted. Results will be released as soon as we can.

    2. Is AZS having delays in regards to assay results from the lab, like companies here in Australia?

    Yes, exploration in North America is very busy, including all the labs.

    3. How is drilling progressing on the Pozo De Nacho prospect?

    We are currently in the third hole of a 6-7 hole program. No assays yet.

    4. Has the company had any thoughts about a listing on the TSX as they seem to pay a premium for junior resource companies with operations based outside Australia, unlike shares traded on the ASX?

    I am currently in Canada (visiting both Vancouver and Toronto) meeting with brokers, investment banks, lawyers etc regarding a possible TSX listing. The response so far has been favourable. This is just one of several corporate ways forward that we're investigating, and when we have formalised something it will be announced.

    5. Has the company got a basic outline in terms of exploration over the next 6 months, eg which prospects, when?

    Yes, and this will be part of the Quarterly Report to be released in late July.

    6. How many members make up your ground exploration team and how does their experience in exploration compare to companies of similar size?

    We have an Australian exploration manager who is living in Hermosillo, Sonora, Mexico, with his family. Under him we have 4 Mexican exploration geologists ranging in experience from 20 years to 2 years. This is giving us a very significant competitive advantage over our competitors in Mexico, as many of them operate out of Canada with no permanent presence in Mexico.

    7. How does the exploration technology in Mexico compare to whats on offer in Australia?

    Not much difference. The technology is available.

    8. Does the company have easy access to drill rigs in Mexico?

    There are plenty of drilling rigs in Mexico several hundred operate out of Hermosillo) but they are all busy. We just need to book well in advance.

    9. How long before the company would be in a position to start releasing JORC statements on some of its more advanced prospects?

    JORC implies Mineral Resources or Ore Reserves. We're not at that stage yet.

    10. Has the company been approached by any larger Institutional Investors about taking a stake in the company?


    11. Has the company got any expectations on the tonnage acheivable at some of its more advanced projects?

    Too early to tell

    12. Is the company currently conducting/waiting for results from sampling across any of its prospects?

    Yes, more surface sampling results to be released very soon.

    13. Will Tony Rovira be taking a hands on approach and spend most of his time in Mexico or rely on his ground teams for exploration and run the company out of Perth?

    I'm spending a reasonable amount of time in Mexico and also Canada. Whatever it takes to make this successful.

    14. Is the company planning an presentations/roadshows to raise awareness of the companies potential?

    So far this year I have presentations to shareholders in Adelaide, Melbourne, Sydney, Brisbane, the Gold Coast and Perth. More of these types of presentations will be carried out over the next 6 months.

    Once again hope you will be able to reply to most of the above questions

    Kind Regards

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