Arizona Gold & Silver Inc. (AZS:TSX; AZASF:OTC) announced in a press release that it has the non-resource technical report for the Philadelphia project in Arizona. The technical report for the property, located in Mohave County, covers 141 drill holes and holds an effective date of October 31, 2023.
The press release detailed that the report outlined a plan for the project that spans 25,000 feet of drilling, which Arizona Silver intends to use to fill in the gaps. This drilling, the company said, was also contributing towards efforts to form a maiden resource report for the property, and the press release stated that the report is also recommending metallurgical tests on heap leach characteristics and other factors that could make the company's mines more efficient.
According to the Vice President of Exploration, Greg Hahn, "This technical report provides the investment community and potential strategic partners with a complete summary of the history of the Philadelphia Project and the significant work completed by Arizona Gold & Silver to date and includes a recommendation on a work plan to complete sufficient drilling to advance the project to the level where a maiden NI43-101 report can be commissioned."
Silver on the Brink of a Breakout
Technical Analyst Clive Maund reviewed the silver market on November 20, 2023, and stated that it could be on the brink of a large breakout. According to Maund, "Gold is now very close to breaking out upside from a multi-year consolidation pattern, and so, although silver still has a ways to go before it can do likewise, if gold breaks out, it will take silver along for the ride."
Maund also provided an updated look at the company on October 15, where he said, "With the sector believed to be starting higher again, this looks like a near perfect point to buy Arizona Gold & Silver Exploration or to add positions."
Maund analyzed the charts for silver as well and observed a large Cup and Handle base beginning in 2012, although it could break out after moving through a certain amount of resistance.
Rick Mills of Ahead of the Herd also commented on the state of the precious metals market: "If we're right, and we are on the cusp of a global economic revival, the three metals I'd want to be invested in are gold, silver, and copper."
Mills also analyzed the silver market, which he believes is being driven by industrial applications as well as investment. Mills stated, "Analysts have long been pointing to a severe shortage of silver due to the relentless growth in demand for the metal. According to the 2023 World Silver Survey, the global silver market was undersupplied by 237.7 million ounces in 2022."
"Uber-Exciting"
Chris Temple of The National Investor reviewed the company in March of 2023. Temple reported that the company's news at that time was "uber-exciting," as it included a number of results from the latest assay results. Temple commented, "The area/size of the mineralization continues to expand substantially. As I hope you'll recall from my initial recommendation, the geological thesis here continues to be ratified bit by bit." Temple continued to say, "Today's news is that there indeed could be hidden under that big rhyolite dome, a gold-silver resource FAR in excess of what anyone ever thought existed."
Clive Maund also reviewed the company in June of 2023, and he rated Arizona Silver as a "Strong Speculative Buy here for all timeframes." Maund commented that "buyers should not be surprised to see it zigzag around in this area for a little while before gaining upside traction, and it could drop a little lower short-term, although it could begin to recover immediately."
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Arizona Gold & Silver Inc. (AZS:TSX; AZASF:OTC)
Maund also provided an updated look at the company on October 15, where he said, "With the sector believed to be starting higher again, this looks like a near perfect point to buy Arizona Gold & Silver Exploration or to add positions."
The Gold Advisor also chose to highlight Arizona Gold & Silver and seemed to think its technical report was welcome news. The Gold advisor commented, "There are two key developments underway that are important and could move the stock."
Arizona has a number of catalysts to report, according to its investor presentation, including its proposed drill program for the H2 of 2023, which is set to include 4,000 meters of RC drilling and 3,000 meters of core drilling.
Ownership and Share Structure
Reuters provided a breakdown of the company's ownership and share structure, where management and insiders own approximately 27.52% of the company. According to the company, 9% of the company is held by institutions.
41% is with family and friend investors.
According to Reuters, there are 71.55 million shares outstanding and 22% free float traded shares, while the company has a market cap of CA$37 million and trades in the 52-week period between CA$0.25 and CA$0.59.
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Important Disclosures:
- Arizona Gold & Silver Inc. has a consulting relationship with an affiliate of Streetwise Reports, and pays a monthly consulting fee between US$8,000 and US$20,000.
- As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Arizona Gold & Silver Inc.
- Amanda Duvall wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
- The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
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