Australian (ASX) Stock Market Forum

AUZ - Australian Mines

Please remind me to to buy a week before the big bars...
Geez Barney, you forgot to remind me.
I looked at this one this morning, but as you can see from the daily, the main action started at 3pm ? I was busy pushing up VML... for some reason...:cautious:

Screenshot_20210118-231330_Online Invest.jpg
 
I swear Rock, I was watching this last week thinking a smart guy should take a small position in this. I am obviously not smart!

Good luck with it if you get on. :cool:
My open buy order was a tad too low..and that is now history.some you win some you loose
 
AUZ breaks its two month downtrend today as the share price moves up 15.8% to 2.2c following around a week of consolidation. No news recently but perhaps there is something on the way?

One to watch for a possible short term trade.

big.chart-AUZ.gif
 
AUZ breaks its two month downtrend today as the share price moves up 15.8% to 2.2c following around a week of consolidation. No news recently but perhaps there is something on the way?

One to watch for a possible short term trade.

Agree, but not on super volume though. Yet. Still 8 mins...
 
Binding offtake agreement with LG Energy Solution for supply of mixed nickel- cobalt hydroxide from the Sconi Project, QLD.
The offtake quantities covered by the Offtake Agreement will account for 100% of the projected future production of Sconi creating a sound customer foundation to underpin its development.
The agreement has only one Condition Precedent, which is that Australian Mines secures financing for construction of the Sconi Project on or before 30 June 2022 (or such later date as the parties may agree).

- what is it; about a bill??

up 30% to 2.6c
 
ASIC commences proceedings against Australian Mines and its managing director Benjamin Bell


A range of allegations being made by ASIC but the core of the litigation is that AUZ allegedly breached its continuous disclosure obligations and managing director Benjamin Bell allegedly breached his directors’ duties.

Expect a substantial sell off tomorrow. This is very bad news and will haunt the company for some time.
 
As I suspected, shareholders have bailed out of AUZ today, sending the share price back to July 2020 levels. This litigation will hang over the company like a black cloud until it is resolved. Based on what is being alleged by ASIC, I doubt that this will be settled prior to trial, so it could take several years for it to work its way through the courts until judgement.

I expect we'll see AUZ back under 10c in the coming months.
 
A chart update only.
and back for a second go ... put on 30 per cent this morning
Screenshot_20240221-142055_CommSec.jpg

.
AUZ has identified a second exploration target prospective for Niobium and Rare Earthsat the Jequie Rare Earth Project located within the state of Bahia (Brazil).

Highlights
The target comprises:
• An airborne radiometric thorium anomaly, contained within the licences, of approximately 12km in length and with a width of up to 2.5km
• Identified soils and clays within close proximity to outcropping Leucogranites, which have the potential to either host primary Rare Earth Elements in hard rock or be the source of secondary REE oxides contained within weathered saprolite, soils and clays.
• Field testing with a portable scintillometer returned positive readings for the presence of potential REE-bearing minerals in outcrop
.
 
and back for a second go ... put on 30 per cent this morning

Just noted in the Probables thread DF ... I see you and Rock are already on to it :)

Been a while between drinks for AUZ ...Solid Volume as well. They have about $3.5M in the bank and a $25M market cap

News doesnt seem to justify the sharp rise to me ...... Traders in action so nimbleness required at some point?
 
Just noted in the Probables thread DF ... I see you and Rock are already on to it :)

Been a while between drinks for AUZ?
and now slurping at the Fount of OPM.

.... AUZ requests a trading halt for its securities, pending the release of an
announcement concerning a capital raising.
 
and now slurping at the Fount of OPM.

Looks pretty opportunistic given they still have $3.5M cash in the jar ..... Doesnt exactly show a lot of confidence in what they expect to find in the area just announced either. Hope I'm wrong on both counts.

Random guess at the CR price .... Given the ordinary chart prior, and the steepness of the spike, I'm backing 14 cents, but hopefully higher for anyone who just bought in. :(
 
Looks pretty opportunistic given they still have $3.5M cash in the jar .....
....Random guess at the CR price .... Given the ordinary chart prior, and the steepness of the spike, I'm backing 14 cents, but
for that amount, you can have 10 shares !!

Adds Chart:
Screenshot_20240222-152327_CommSec.jpg
 
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