AYN - Alcyone Resources

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Anyone know whats happened to AYN this week? They had announced 5.5mil funding from the US recently and yet this week needed to raise another 2.5 locally???

Also 3 of the directors resigned?

Today's announcements should shed some more light on the issues:

http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01392579
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01392575
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01392573

While I won't blame the (old) board for the weather, they could probably have kept a closer eye on those contractors and fleet maintenance. The loan from Bergen could well have been the final straw.
Hopefully, the new board can get us back on track. In fact, I'm so confident in their ability that I'm repurchasing my holdings that I had sold a few weeks ago. I've also bought a few AYNO, 6c by May 2015. Speculative yes, but if things go as expected, they'll offer heaps more bang per buck.

 

[AllAussie]

Today's announcements should shed some more light on the issues:

http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01392579
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01392575
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01392573

While I won't blame the (old) board for the weather, they could probably have kept a closer eye on those contractors and fleet maintenance. The loan from Bergen could well have been the final straw.
Hopefully, the new board can get us back on track. In fact, I'm so confident in their ability that I'm repurchasing my holdings that I had sold a few weeks ago. I've also bought a few AYNO, 6c by May 2015. Speculative yes, but if things go as expected, they'll offer heaps more bang per buck.

View attachment 51352

Surely its has been oversold at 1.6c? Especially considering the problems are just temporary set backs rather than anything permanent?

I guess it all comes down to the ability to get LP4 fully constructed and functional so the mine can turn a profit ASAP.

Would be helpful if they gave us more figures in regards to monthly, per ounce processing costs and kept us more up to date on throughput rather than waiting for the quarterly reports. The last time I heard cost per ounce mentioned was the BFS which stated taget costs of $15/oz. Would be keen to know how they are tracking towards this target.

Also keen to see the exploration start again. I'm hoping they buy their own drill rigs once they get some money...I have a feeling those tenements still have a bit to give

I own both AYN and AYNO and get the feeling I should be stocking up more atm

 

[AllAussie]

Today's announcements should shed some more light on the issues:

http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01392579
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01392575
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01392573

While I won't blame the (old) board for the weather, they could probably have kept a closer eye on those contractors and fleet maintenance. The loan from Bergen could well have been the final straw.
Hopefully, the new board can get us back on track. In fact, I'm so confident in their ability that I'm repurchasing my holdings that I had sold a few weeks ago. I've also bought a few AYNO, 6c by May 2015. Speculative yes, but if things go as expected, they'll offer heaps more bang per buck.

View attachment 51352

Also what makes you so confident in the ability of the new board?

Do you know much about any of them?

 

[WRONG'UN]

Looks like a potential Morning Star reversal pattern setting up - good luck knife catchers!