NEW YORK, June 7, 2004 (PRIMEZONE) -- The following is an investment opinion issued by Investrend Research Syndicate:
Benno Schmidt, research analyst with Investrend affiliate SISM Research, has initiated coverage of Azure Resources Corp. ("Azure") (TSX Venture Exchange:AZR) with a long-term Speculative Buy/4 rating and a 12-month price target of C$0.70.
Azure, based in Vancouver, Canada, is a newly listed gold exploration company traded on the TSX Venture Exchange (AZR) and headquartered in Vancouver, B.C., Canada. Azure's strategic focus is on advanced-stage gold projects internationally. Azure's principal asset is the Mooseland Gold Property in Eastern Canada. Azure's key ability is mine development. Mooseland is the first in a growing portfolio of gold exploration projects in need of a last push into production.
Azure has a total portfolio of around 826,000 ounces of gold resources and, in June 2004, will start at full production capacity of 200-250 tons per day at its Dufferin Mill in Nova Scotia. In April 2004, the first bulk sample of 2,120 tons was processed, yielding 150 ounces of gold poured. Additionally, Azure has been pursuing other very promising sites and is exploring them very diligently.
Schmidt stated: "Azure is definitely a junior gold exploration company, being only a little bit more than one year in operation since going public. Despite its relatively young history, the company has shown a very diligent yet aggressive approach to enhance its property portfolio with quality sites. The outlook is very bright as long as the results so far communicated can be verified. In our opinion and due to a reliable management, positive factors from the economy, strong commodity prices and a comprehensive, well-structured and extensive drilling and sampling program, we are convinced the company will be successful in the very near future."
SISM Research & Investment Services, based in Zurich, has offered investment and financial services since 1995. SISM Research writes, publishes and distributes investment research coverage, in both English and German, on micro- to small-cap public companies trading on the OTCBB, NASDAQ and AMEX geared towards institutional and individual investors in both North America and Europe.
SISM Research is a member of the standards-based FIRST Research Consortium at http://www.firstresearchconsortium.com. SISM Research is a content provider to Thomson Financials OneAnalytics/FirstCall, to Multex, Datamonitor and InvesTrend. The company under coverage paid SISM Research a retainer of $5,000, plus $1,750 per month over a two-year period to provide independent coverage. No one associated with SISM Research may own or trade the equities of companies under coverage.
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