AZM - Azumah Resources

jman2007 · 2 September 2008

I wonder if they'll get the Bepkong resource out this week?..

Doesn't look like the Basabli release was what the market was expecting or waiting for. Early days at this prospect, just reconnaissance drilling really, although will be interesting to see how it develops. If they do get over 200K oz from Bepkong at around 2g/t it would be great result for the company.

Sean K · 2 September 2008

jman2007 said:
I wonder if they'll get the Bepkong resource out this week?..

Doesn't look like the Basabli release was what the market was expecting or waiting for. Early days at this prospect, just reconnaissance drilling really, although will be interesting to see how it develops. If they do get over 200K oz from Bepkong at around 2g/t it would be great result for the company.

Should be close. I was told 'on schedule' which I thought was Sep, so it's a little late. So far.

I thought there might be a little run up in the sp leading the resource, but perhaps it's still a little under the radar.

Or perhaps, no one like gold explorers right now....

Gold juniors have been well on the outer in Australia (even though TIA) for some time due to costs and a couple of high exposure failures.

Or, because gold looks to be on a slippery slope until (if) USD fails completely...

Come on Stephen, 200K oz au >2g/t.

Please...... LOL

Sean K · 4 September 2008

Well, I've got what I was hoping for, but POG is in the dog house, so not sure of the immediate support.

Some good other numbers regarding this deposit too.

Any thoughts?

jman2007 · 5 September 2008

kennas said:
Well, I've got what I was hoping for, but POG is in the dog house, so not sure of the immediate support.

Some good other numbers regarding this deposit too.

Any thoughts?

Well it was a decent enough release, more or less in line with what we were predicting and at a slightly higher grade. Shame about the timing though, which is nothing to do with AZM at all, merely a reflection of the latest slump in investor confidence. They couldn't really afford to delay the release it though... at least we now know where they stand with these projects, 750K oz now on the books, not bad.

jman

Sean K · 5 September 2008

jman2007 said:
Well it was a decent enough release, more or less in line with what we were predicting and at a slightly higher grade. Shame about the timing though, which is nothing to do with AZM at all, merely a reflection of the latest slump in investor confidence. They couldn't really afford to delay the release it though... at least we now know where they stand with these projects, 750K oz now on the books, not bad.

jman

Yeah, terrible day for the release, and gold stocks just being slaughtered. Just not the place to be at the moment. I'm not sure if this correction in POG is a blip, or a very long term collapse. Has the USD hit a bottom? Is the commodity bull caput? Will any bank be handing over cash to explorers to forward their exploration and development? Well, I suppose Macquarie has an interest in keeping them going for a while. Or, is it all just overall sentiment and the bull will return at some stage and these specs will run. Aaaaah, questions, questions.....

I noted in their presentation just released that their aim of attaining 1m oz by the end of the year has been changed to just 1m oz. More drilling in Oct, but maybe not enough time to work up the 1m by New Year...Disappointing.

Sean K · 8 October 2008

One of a couple of stocks I'm still holding and still in the green with it. Just.

Further drilling was due to start this month but I don't think their 1m oz target by the end of the year is a chance.

MC down to around $10m again which you get 750k oz au open pit potential.

I notice GRY come out with an ann today all cheerful about their 400k oz ish open pit and an MC of $14m or so. Have some Ni potential too, but AZM still looks cheapish on a peer comparison generally.

Just when the spec money comes back into the market, who knows. No one wants to buy! Still holding expecting gold to push to higher highs eventually and this to be a tasty takeover or partner for a major looking for a potentially low cap ex operation...

Miner · 15 October 2008

kennas said:
One of a couple of stocks I'm still holding and still in the green with it. Just.

Further drilling was due to start this month but I don't think their 1m oz target by the end of the year is a chance.

MC down to around $10m again which you get 750k oz au open pit potential.

I notice GRY come out with an ann today all cheerful about their 400k oz ish open pit and an MC of $14m or so. Have some Ni potential too, but AZM still looks cheapish on a peer comparison generally.

Just when the spec money comes back into the market, who knows. No one wants to buy! Still holding expecting gold to push to higher highs eventually and this to be a tasty takeover or partner for a major looking for a potentially low cap ex operation...

One of the directors bought 100000 shares at 11.5 cents in late Sept and today the share was selling at an unprecedented low value of 7.7 cents.

Yesterday it did not change when every Tom and Dick share showed some upward trend.

Where do you think AZM is leading to ?

Sean K · 16 October 2008

Miner said:
Where do you think AZM is leading to ?

To the abyss at this rate.

There is no spec money coming in to illiquid junior explorers at the moment. And POG is in with the dog.

Black Swan for these guys in Macquarie pulling out of the funding/uptake agreement and they are left with no cash.

Best case may be takeover by a mid to major in the region after some near surface good grade resources.

I've factored in a total failure in this environment, and don't expect a return from here.

shag · 16 October 2008

oh damn, i didnt see that mac bank pulled out.
i bought partly due to this endorsement.
oh well, another script to forget and poke under the stairs in the hope it will do a summit gold on you.
i just hope theres allota gold under the ground there(or uranium or diamonds-like im not fussy).

Sean K · 16 October 2008

shag said:
oh damn, i didnt see that mac bank pulled out.
i bought partly due to this endorsement.

!!

They haven't pulled out.

Just saying that if they withdrew from the deal then it would be bad darts.

Funding could eventually come from elsewhere.

For eg, a stake by another goldie, or from YT....

jman2007 · 16 October 2008

kennas said:
To the abyss at this rate.

There is no spec money coming in to illiquid junior explorers at the moment. And POG is in with the dog.

Black Swan for these guys in Macquarie pulling out of the funding/uptake agreement and they are left with no cash.

Best case may be takeover by a mid to major in the region after some near surface good grade resources.

I've factored in a total failure in this environment, and don't expect a return from here.

I think they've got some good ground along the Wa Lawra belt, and some good projects, but look to be in some trouble cash wise with only $1.63M left in the bank. I think for a small company to achieve what they have in terms of proving up 750Koz of Resources in the ground is great, but it's just not the right market conditions for them at the moment. I'd give them another 12 months and then see where they're at, of course if they stumble upon an elelphant such as a 5Moz monster, then it all could change rather quickly. That's the thing about gold, it's always full of surprises.

jman

Sean K · 24 October 2008

Crikey! Been raped along with the rest of the market.

I'm stuck with a pile due to the low liquidity and unwillingness to gap it down considerably. The recent low volume sell off is quite painful to watch.

Agree on the cash situ jman, but I think the Macquarie placement shores them up for a little while. Still, they'll need another backer, or raising next quarter I think.

They were supposed to do a few things this month as per last pres in Sep, but no announcements..

Note the last line in 'general'. I reckon they're trying to get someone to jump into bed with them.

Current mc down to about $7m....eeeek!

Sean K · 30 October 2008

kennas said:
Agree on the cash situ jman, but I think the Macquarie placement shores them up for a little while. Still, they'll need another backer, or raising next quarter I think.

They were supposed to do a few things this month as per last pres in Sep, but no announcements..

Hmmm, looks like they're effectively putting this project on care and maintenance.

What the? An exploration project on C&M? LOL

From Qtly:

Going Forward

In July 2008 Azumah raised $1.94M through issue of 12,150,000 new shares to Macquarie Bank Limited which became Company’s largest shareholder with a 13% interest. As at the date of this report the Company has approximately $2.1m of working capital.

Azumah has designed drilling programmes to extend Mineral Resources at Bepkong, to investigate untested targets and anomalies in the Kunche-Bepkong area, to follow-up the encouraging results from recent drilling at the Basabli and Kuo prospects and to test several high-priority ranked soil gold anomalies throughout the 100km strike of Birimian greenstones on Azumah’s 100% owned licences.

However, in the present climate of exceptional volatility and uncertainty in global financial markets, Azumah is taking a very cautious and prudent approach to moving its Wa-Lawra Project forward balanced with the need to preserve its existing working capital. It is closely monitoring events in the markets before committing to any of these planned drilling programmes.

A number of low-cost office and field based exploration initiatives are being maintained and metallurgical test-work will continue on other samples of Kunche mineralisation as well as samples of fresh Bepkong mineralisation.

Azumah has very modest overheads. Its executives and most consultants are retained on an as-and-when-required daily remuneration basis with no full-time or long-term contract commitments.

Why not ask me for some more money at a discount with some free attached options????

jman2007 · 12 November 2008

kennas said:
Hmmm, looks like they're effectively putting this project on care and maintenance.

What the? An exploration project on C&M? LOL

From Qtly:

Going Forward

However, in the present climate of exceptional volatility and uncertainty in global financial markets, Azumah is taking a very cautious and prudent approach to moving its Wa-Lawra Project forward balanced with the need to preserve its existing working capital. It is closely monitoring events in the markets before committing to any of these planned drilling programmes.

Why not ask me for some more money at a discount with some free attached options????

Yeah you're more or less right kennas,

Sugar-coated words in some ways, but basically they seem to be saying that the project is on ice for the time being.

A do find it a little odd that they didn't consider some kind of other funding option to keep exploration ticking along.

Maybe one for the bottom drawer for a while, down but certainly not out.

jman

Sean K · 13 November 2008

jman2007 said:
Maybe one for the bottom drawer for a while, down but certainly not out.

jman

That's been my position for a few months now, but not the way I like to play this game. Conserving capital is the number one rule for me. Usually. Why keep money static or dripping away when there's other perfectly good money making opportunities out there. Like the casino...

Anyway, when the market turns up in 2015, I'll open up the draw. Maybe I'll get my money back. And then I'll go to the casino...

Sean K · 28 November 2008

Unfortunately for me (the only holder here it seems ) that even the general change in market sentiment can not assist AZM. Just no buyers and with good reason in this part of the cycle. Very early development project, and no cash. Luckily, no debt, so probably no administration, but just time until the market turns.

Some desperate punter sold 2050 shares at .05 today to raise $102 to tank the sp 23%.

I just haven't been willing to tank the price to get out, which has eventually cost me dearly. Underestimated the degree that this would fail considering it's IGV.

Another lesson to take into the future and thrive off.

shag · 16 February 2009

theres been a bit more action in the last couple of days. maybe somethings afloat.
i guess we will see soon....

Sean K · 16 February 2009

shag said:
theres been a bit more action in the last couple of days. maybe somethings afloat.
i guess we will see soon....

Pretty low volume Shag. Looks to me just that the dead wood have dumped all their stock. No more desperate sellers, and now just a little risk creaping back into the market. 2020 tells be under 5c was a nice move. Oh well ...

Miner · 17 February 2009

kennas said:
Pretty low volume Shag. Looks to me just that the dead wood have dumped all their stock. No more desperate sellers, and now just a little risk creaping back into the market. 2020 tells be under 5c was a nice move. Oh well ...

Hi Kennas How D

I looked into competition thread.

Your tip at 6 cents for AZM has gained solid 27 percentage in 14 days

You did extremely well if I take the annualised return for AZM

WHy are you complaining after an excellent trade (of course I am assuming your investment was at 5 cents) ?

Leave the complaining rights on people like MEEEEEEEEEEEEEE

psychic · 26 February 2009

Thats why the share price is going up, AZM just announced that drilling has started on its gold project. Go for gold

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