ATA - ATC Alloys

[maffu]

Re: HAZ - Hazelwood Resources

I actually jumped into the stock today at 24.5c

http://www.brr.com.au/event/66393/a-vertically-integrated-tungsten-company

(although it is dated) I must say their CEO put forth a compelling case, they had the project NPV at over 150mil, and the stock is only at 55mil market cap currently.

They are aiming for 25mil positive cash flow each year after production starts next year, so I thought it was worth a punt for a modest amount.

I have been smashed with this one.
Still no production, despite the plant being finished on time and under budget.
A few month share trading halt has been stopped yesterday, and the share price plummeted down to 2c per share
A big rights issue, with shares on offer for 2c per share with the hope to raise $15mil cash to buy feedstock to get production under way.

I haven't read the prospectus yet, but I doubt I will be taking up the offer.

 

[System]

On March 29th, 2016, Hazelwood Resources Limited (HAZ) changed its name and ASX code to ATC Alloys Limited (ATA).