It would be ideal if AZY made a similar high-funding earn-in JV arrangement to the RIO one but with NCM for the gold areas around and north of Telfer on their Paterson and North Telfer tenements. That would free them of an immense expenditure obligation on all those licenses.
They could then retain the far northwest Paterson tenement block next to this purported RIO copper discovery as 100% AZY, and explore that in their own right. That would be very manageable, even with their current limited funds.
Re further capital needs, it is at least comforting to note that Bacchus need the AZY share price to be above 3c before they can exercise and profit from their 10M free options, and also that Bacchus and at least two of the AZY directors (probably more under nominee companies) each hold 10m shares or options - a strong disincentive against any sort of capital reconstruction.
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