The French company AAZ
designed and validated the autotest VIH [sup.
COMMENT: The results are mixed for AAZ
, in our view.
Richard may be driving a blue VW Polo car with the registration AAZ
envisages improving the recovery rates for oxide and sulphide materials of 85% and 69% respectively at the initial stage of the project.
AAZ aims to commence the development of Gosha into a small, profitable, high grade underground gold mine producing gold at an average rate of 10,000 to 15,000 ounces per annum for a period of up to five years.
AAZ already operates Gedabek gold and copper mine that produces around 60,000 ounces of gold annually.
is thus in discussions with local and international banks regarding funding facilities as the company anticipates the first plant equipment to arrive on site in 3Q2012.
COMMENT: The news so far has a limited effect on AAZ
as additional information on the size of the deposit and gold grade is required to assess the impact on valuation.
COMMENT: We consider the news as moderately negative for AAZ
said that currently limited exploration has been done at Gosha, and no JORC compliant information on Gosha's resource is available.