News

June 29, 2009

Azumah Resources Heads Towards Production, As The Latest Drill Results From The Wa Project In Ghana Come Up Trumps

By Our Man in Oz

If they were asked to compile a list of the best performing gold stocks on the Australian share market over the past six months, it’s a fair bet that not many investors would pick Azumah Resources. But those that did would have chosen a winner, because since hitting a low of A4 cents last December Azumah has comfortably outperformed the ASX gold index, having risen by 250 per cent to recent trading at around A14 cents. Over the same time the gold index has risen by 24 per cent. In strict statistical terms this 10 times outperformance is not a fair comparison, but it makes the point that Azumah has been in strong recovery mode, as the market begins to discover a company which was nearly strangled at birth but which is now doing what it’s supposed to be doing - discovering gold.

The most recent item of discovery news came on Monday 29th June when Azumah reported a suite of excellent assays from the Collette and Julie prospects which lie inside the Wa project in northern Ghana. Best hits were three metres of 45.9 grams a tonne of gold, and 12 metres at 13.13 grammes per tonne. Good as they are, the real message does not lie in the assays themselves. Rather it lies in the fact that Wa is shaping up as the difference between Azumah remaining an explorer and Azumah...