# AZH - Azimuth Resources



## System (4 August 2010)

Azimuth Resources (AZH) was previously known as Epsilon Energy (EPS).

For previous discussion of this company please see the EPS thread, which can be found here: https://www.aussiestockforums.com/forums/showthread.php?t=7578

http://www.azimuthresources.com.au


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## snapper82 (22 February 2011)

System said:


> Azimuth Resources (AZH) was previously known as Epsilon Energy (EPS).
> 
> For previous discussion of this company please see the EPS thread, which can be found here: https://www.aussiestockforums.com/forums/showthread.php?t=7578
> 
> http://www.azimuthresources.com.au




Any news on this share????


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## Country Lad (14 April 2011)

Nice break today.


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## mr. jeff (31 August 2011)

looking like things are starting to warm up 



Break to new highs, news flow expected on resource in September.
Should give it a bit of support.


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## boff (3 September 2011)

mr. jeff said:


> looking like things are starting to warm up



I agree. I believe that as the price of gold inevitably starts to move north of $2k junior miners such as AZH are going to start going crazy. I opened a position last Monday with that expectation.


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## BigPappaGibbo (9 September 2011)

Have they started to make any money? what are your estimates for plausible strike prices?


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## Chasero (18 February 2012)

Has anyone been watching this stock?

It's been in a strong uptrend all year. It was 50c at beginning of 2012, now it's nearly $1!??

Up 30% in the last few days... no one is interested?

If anyone holds, please let us know


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## ACEz (19 February 2012)

I've been watching it very closely, Too bad I have most of my Trading $ in other shares ATM , Great stock


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## boff (20 February 2012)

Still happy to hold. Wish I'd bought more of this and not sold MAD when I did. Such is life. 

They are due to release maiden JORC numbers for the Hicks and Smarts projects in March so I am expecting a positive move on that news.


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## Fantasy09 (29 February 2012)

They are looking to list it overseas as well, I believe TSX.


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## BigPappaGibbo (7 March 2012)

Hi Chasero.

Ive been holding AZH for nearly 14 months now. Bought in originally at 12 cents, so been a happy ride so far.

Results from drilling in Hicks, west/east omai, smarts and kaburi show extremely promising grades. no debt, CR back in October which was oversubscribed and raised $19m which will further developments and exploration all lead to a rosy future for AZH IMO.

on the radar of analysts as well. most recent analyst report attached.

http://www.epsilonenergy.com.au/index.php?option=com_investorcentre&view=files&id=4&Itemid=36

Big potential for future upside, but am now free carrying so happy to sit and wait and watch from the sidelines.

Also Hold: MSR, MAD, BCC, PCL


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## mr. jeff (7 March 2012)

I'm disappointed to add that I haven't held the whole time since my last post, however it seems that there is significant news flow with:

- maiden JORC
- further drill results
- updated recoveries
- artisanal area investigation

So that is what will support the price this year and with the drilling to come there should be further reporting. They way it is shown in their latest (15th Feb) presentation, they could be sitting on a pretty large JORC resource - if you look at the drilling map for Smarts :





You can see that there are a lot of intercepts at good grades and over a significant area. Any half decent analyst would have already calculated a very rough resource from that I would assume.


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## mr. jeff (7 March 2012)

By my calculations the resource is quite decent just for smarts drilling.

There is more than enough for 10 years production in that alone.

I may even show my workings later.


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## Fantasy09 (14 March 2012)

What the heck, came back from lunch and found it tanked 13%


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## pixel (14 March 2012)

Fantasy09 said:


> What the heck, came back from lunch and found it tanked 13%



 Sorry, should've posted *here *instead of here: https://www.aussiestockforums.com/forums/showthread.php?t=23881


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## Fantasy09 (14 March 2012)

Looks like they tried to release some drilling results around noon to stop the downward trend but didn't help.


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## mr. jeff (15 March 2012)

Fantasy09 said:


> Looks like they tried to release some drilling results around noon to stop the downward trend but didn't help.




I doubt they would have a stack of results there labelled "available for release as required" !

But what were the results can you update us ?


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## Chasero (5 April 2012)

Director buying yesterday at 65c.

He bought around 50k shares or so..

I think AZH has been way too heavily sold off. Will be interesting to see what happens next week.

I always felt like I missed the boat when I first noticed AZH. Not going to miss another opportunity this time around. 

Looking at the trend from april last year 30c to today's date at 60c.. spiking upwards to 90c (where I'm sure a lot of people have sold off), long term trend is still in tact.

EDIT: Not sure if many trend traders out there (but draw a line from the low of 30c, should see bottoms @ 40c 50c and around 60c). Hence why I chose to enter today @ 63c. Could be wrong!


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## Chasero (13 April 2012)

Chasero said:


> Director buying yesterday at 65c.
> 
> He bought around 50k shares or so..
> 
> ...




Bounced off 61c nicely...

Didn't pick the bottom @ 63c but happy to hold.

Current share price 67c 

Long term trend still up! This is purely on charts.. I dont even know what AZH does.


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## Gringotts Bank (2 May 2012)

I can't see any reason for this to be off 10% today.  Anyone?

Buying at 57.5c, day trade.


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## springhill (6 August 2012)

Company presentation
http://www.asx.com.au/asxpdf/20120806/pdf/427vn9vc66pmh0.pdf


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## Gringotts Bank (24 September 2012)

Rounded bottom pattern.  Should reach at least 57c.

A good entry might be at 48-49.  

XAO can't go too far down without first testing 4450, so i think a swing down on the Ords from here is unlikely.


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## stockGURU (20 June 2013)

Arbitrage opportunity in AZH?

On March 28, Troy Resources (TRY) announced that they intended to takeover AZH. The AZH board recommended the takeover to its shareholders. Troy Resources were offering one TRY share for every 5.695 AZH shares. 

At the close of trading today, AZH shares were $0.34 and TRY shares were $2.21. According to my calculations this values AZH shares at $0.388 according to the terms of the takeover bid. TRY now has 64% acceptances from AZH and given that this is increasing on a daily basis, the takeover looks to be in the bag.

Why the discount on AZH shares? Is it because there is some risk, however small, that the takeover won't go ahead?

Assuming the takeover does proceed, buying AZH at $0.34 buys you TRY at around $1.94 instead of the $2.21 that it is currently trading at.

Can someone please explain the disparity in pricing?


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## skc (20 June 2013)

stockGURU said:


> Why the discount on AZH shares? Is it because there is some risk, however small, that the takeover won't go ahead?
> 
> Assuming the takeover does proceed, buying AZH at $0.34 buys you TRY at around $1.94 instead of the $2.21 that it is currently trading at.
> 
> Can someone please explain the disparity in pricing?




I arb'ed this from Day 1 and closed it for a 6.5% profit. I am surprised that the spread has blown out again.

There are no shorts available on TRY at the moment so that might explain why there is the large spread. TRY rising in the face of falling price of gold might be a sign of shorts being recalled. However, I have no idea why a bid by TRY means recalling borrow stocks - may be the insto holders don't want the arbitrage players destroying their share price?

Of course it is also possible that there is something in the background that we just don't know.


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## skc (2 July 2013)

skc said:


> I arb'ed this from Day 1 and closed it for a 6.5% profit. I am surprised that the spread has blown out again.
> 
> There are no shorts available on TRY at the moment so that might explain why there is the large spread. TRY rising in the face of falling price of gold might be a sign of shorts being recalled. However, I have no idea why a bid by TRY means recalling borrow stocks - may be the insto holders don't want the arbitrage players destroying their share price?
> 
> Of course it is also possible that there is something in the background that we just don't know.




Well. Offer unconditional. Deal is done... I couldn't find any TRY shorts all of last week, but the liquidity of AZH is pretty low and I would have struggled to build a meaningful position.


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## System (24 July 2013)

On July 23rd, 2013, Azimuth Resources Limited (AZH) was removed from the official list of ASX Limited in accordance with listing rule 17.14, following compulsory acquisition by Troy Resources Limited (TRY).


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