What has me most bullish is recent conversation with the Tony riveria himself, he confirmed to me Azure is “close to making an announcement on a new flag ship acquisition” he also confirmed that next month teck will definitely between now and December spend $2 million on drilling to for fill their obligations under the J/V with azure minerals.
I see the situation for value creation playing out in one of three ways.
1. Azure acquires a new flag ship project before next month.
2. Teck begins exploration on Alacran next month.
3. Teck is too slow to for fill their commitments under the J/V alacran is returned to Azure 100% for no cost.
Let me expand on those points.
1.Azure acquires a new flagship project why am I so bullish, the MD Tony riveria former Australian prospector of the year, his most famous discovery was th Cosmos nickel sulphide deposit sold to xstrata for $3billion, he is also responsible for the silver/gold discovery at alacran a property explored for many years by several majors who all missed it, they actually used the deposit which outcropped as a road never bothering to even sample it, this man knows geology whatever he buys it will be quality guaranteed.
2. Teck begins the first $2million of a $15million spend they have to December to complete the $2million spend, teck have announced they are drilling for additional gold/silver, the high sulphidation deposits on alacran have all been eroded to surface level where only the rock hard vuggy silica remains, so drilling is not deeper than 100m at the most, this mean alot of exploration alot of holes for $2million, I estimate around 90holes that is alot news flow from probably some of the hottest exploration ground you can find.
Also teck choose to claw back on this property they didn’t have to commit to the spend, they saw what Azure had and choose to come back, they like what they see, in my research I have encountered many signs that indicate additional mineralisation exist such as these vegetative anomalies which exist around priority drill targets on the western side of the property.