AZR - Aztec Resources

[RichKid]

Re: AZR Aztec Resources- Little guy going Up?

Well, big boy BHP has been strongarmed by the Chinese- no extra price hike for being an Aussie!! But maybe next year when they use their brains and team up with RIO. So doesn't bode as well for AZR price negotiations, kinda getting a bit annoying waiting for the annct. Sp appears to be looking for a level to settle at, volumes have just drowned!

 

[The Barbarian Investor]

Re: AZR Aztec Resources- Little guy going Up?

They got a price rise..just not what they (read we) wanted..

AZR still positive on my folio though i'm glad to say, MGX has dipped though

 

[RichKid]

Re: AZR Aztec Resources- Little guy going Up?

AZR appears to be heading lower imo, won't be surprised to see a quick dump one day, the trend is definitely down in the short term. That bfs is taking its time. All the iron ore stocks are taking a breather, general market downturn is not helping either, people are jittery.

 

[doctorj]

Re: AZR Aztec Resources- Little guy going Up?

A good day for AZR today with plenty of volume, closing 1c up at 25.5 on the back of more than 5,000,000 shares traded. VWAP at 25.74c

The BFS is due out in April, which means some time this week. This may explain today's buying. Lets hope Ian and the crew enjoy meeting their deadlines and can get it out to us before COB Friday.

Champagne this Friday night for all holders hopefully.

 

[RichKid]

Re: AZR Aztec Resources- Little guy going Up?

A good day for AZR today with plenty of volume, closing 1c up at 25.5 on the back of more than 5,000,000 shares traded. VWAP at 25.74c

The BFS is due out in April, which means some time this week. This may explain today's buying. Lets hope Ian and the crew enjoy meeting their deadlines and can get it out to us before COB Friday.

Champagne this Friday night for all holders hopefully.

Nice chart doc, did they actually commit themselves to an April deadline? I thought it was sometime this quarter but could be wrong. Nice to see the volume. Been quiet for awhile by AZR's standards. I expect the retracement to continue lower but hopefully will be wrong.

 

[doctorj]

Re: AZR Aztec Resources- Little guy going Up?

I will see if I can find the documents that have lead me to believe they committed to April and get back to you.

 

[RichKid]

Re: AZR Aztec Resources- Little guy going Up?

I will see if I can find the documents that have lead me to believe they committed to April and get back to you.

Thanks doc, I'm too lazy or I would have done it. I think I did do it last month but didn't note the source. Would have been a recent annct. If they said it was April and they delay it'll drop real quick. The other issue is general market risk- it's affecting the money flow to speccies too so the Allords will have some effect.

 

[doctorj]

Re: AZR Aztec Resources- Little guy going Up?

I've seen it noted in several places, but you can view it in the Second Quarter Activities Report released on 24/01/2005.

Within the report it states, "Bankable feasibility study well advanced for completion in April 2005."

 

[RichKid]

Re: AZR Aztec Resources- Little guy going Up?

I've seen it noted in several places, but you can view it in the Second Quarter Activities Report released on 24/01/2005.

Within the report it states, "Bankable feasibility study well advanced for completion in April 2005."

Thanks doc, I haven't been too concerned because I'm primarily following the chart atm, but it does help to be prepared. 3 days to go!! Will get very exciting for some! A lot of work to be done between now and shipment of ore so it's got to come together smoothly. 10m is a notable mark for volume.

 

[doctorj]

Re: AZR Aztec Resources- Little guy going Up?

Latest news from AZR about the BFS is that there have been delays in receiving some quotes. They expect the BFS to be complete early May now.

Also, for those that have noticed their website being broken, that's because they're upgrading the old one. An interim one should be available again at the old URL before the end of the week.

Oddly enough, someone by the name Jess Gush responded to the email query from the address Jess.Gush@foxresources.com.au. She indicated her position was executive assistant, but I wonder just how closely these companies are interwined.

 

[RichKid]

Re: AZR Aztec Resources- Little guy going Up?

Latest news from AZR about the BFS is that there have been delays in receiving some quotes. They expect the BFS to be complete early May now.

Also, for those that have noticed their website being broken, that's because they're upgrading the old one. An interim one should be available again at the old URL before the end of the week.

Oddly enough, someone by the name Jess Gush responded to the email query from the address Jess.Gush@foxresources.com.au. She indicated her position was executive assistant, but I wonder just how closely these companies are interwined.

The report released today said BFS to be released April and other financial modelling in May from what I recall, they only released it after market closed.
Brett Matich is with FXR and AZR, maybe they use the same secretarial staff and other staff?? Everyone knows everyone else in this industry, especially if it all happens out West.

A lot of sell orders now since most people now know what to expect. The speculators are cashing out.

 

[el_ninj0]

Re: AZR Aztec Resources- Little guy going Up?

A lot of sell orders now since most people now know what to expect. The speculators are cashing out.

I cant see alot of people cashing out from the comsec market depth. Looks like its around even at the moment, possibly going a little higher.

Im in it for the long haul, but I think its looking good short term aswell. We have had a drop enough to make it level out at a reansonable price again, and there seems to be renewed interest in the stock lately if volume is any indication. I'd expect to see it go up atleast a little today, as the report from yesterday was fairly strong, even if they dont have alot of cash left in the bank.

 

[RichKid]

Re: AZR Aztec Resources- Little guy going Up?

I cant see alot of people cashing out from the comsec market depth. Looks like its around even at the moment, possibly going a little higher.

Im in it for the long haul, but I think its looking good short term aswell. We have had a drop enough to make it level out at a reansonable price again, and there seems to be renewed interest in the stock lately if volume is any indication. I'd expect to see it go up atleast a little today, as the report from yesterday was fairly strong, even if they dont have alot of cash left in the bank.

EN,
About the depth, when I checked the gap(spread) between the aggregate of the first two levels on either side it spread was a bit higher than it is atm, I thought it was worth noting as the spread depth (is that the term?) was abit narrower over recent days, on average. Now back to about 400k. The nearest bid/offer is close but the next level will show the full picture. Nice to see a little jump up.
Buy: 200k at 25.5c and 485k at 25 (total about 700k)
Sell: 164k at 26c, 900k at 26.5 (total about 1.1m)

Keeps changing though.

I'm still expecting some softening in the sp, I'll check my chart again on the weekend. If this resources 'correction' ends soon AZR will be back up again as before. Let's hope some disgruntled Fortescue Metals sh's comeover to AZR, at least the anncts here are far more reliable!

As for cash in the bank it's those agreements about iron ore price etc that'll seal it, unless I've missed something they are still to release the details, I'd assume it requires the May financial reports to be completed first. Plenty of backers with cash for this one.

 

[el_ninj0]

Re: AZR Aztec Resources- Little guy going Up?

Depending on overseas markets of course, i would be suprised if AZR didn't pickup atleast another cent on its sp today. It seems like it had a bit of a rise yesterday morning, like most other resource stocks did. However, it held a bit more than the rest, so i think i'd tip it to go a little higher today.

RichKid, how long do you think this correction in the resources sector will go on for? guesstimate.

 

[RichKid]

Re: AZR Aztec Resources- Little guy going Up?

RichKid, how long do you think this correction in the resources sector will go on for? guesstimate.

EN,
Not sure! each sector may recover at different times (Eg oil, gold, diversified). I'm giving it all till June/July to recover fully but things are so wild anything could happen. Still think the resources cycle has a way to go. Just that overvalued companies are taking big hits.
AZR is certainly not overvalued imo. It's the crucial iron ore price negotiations that have to come good now.

 

[el_ninj0]

Re: AZR Aztec Resources- Little guy going Up?

EN,
Not sure! each sector may recover at different times (Eg oil, gold, diversified). I'm giving it all till June/July to recover fully but things are so wild anything could happen. Still think the resources cycle has a way to go. Just that overvalued companies are taking big hits.
AZR is certainly not overvalued imo. It's the crucial iron ore price negotiations that have to come good now.

I personally think that resources has a long long way to go up. The demand is nothing now compared to what it will be in 5-10 years. MGX and AZR start big production in the next 2 years, and the price of iron ore will have definitely gone up again by then. Even though i beleive MGX has already secured a price for their produce?.

AZR will be the big up and comer though, it still has a long way to go up, as long as management can keep it on track.

Im looking more long term with resources at the moment, the boom of november-february has gone, but slow and steady gains over the next 2 years im thinking.

 

[el_ninj0]

Re: AZR Aztec Resources- Little guy going Up?

WOW!
What the hell happend to this today? 54 million shares traded today. Thats a bit above normal when there hasn't even been an announcment. Mabey there is some news on this company that the asx hasn't posted yet?

 

[RichKid]

Re: AZR Aztec Resources- Little guy going Up?

WOW!
What the hell happend to this today? 54 million shares traded today. Thats a bit above normal when there hasn't even been an announcment. Mabey there is some news on this company that the asx hasn't posted yet?

Yep, big deal alright, highest ever volume by far for AZR. But it was due to one trade at 23.5c of just over 50 million, occurred at about 4.30pm and was tagged portfolio special crossing, off market trade. Someone else may have to explain what it all means as it may not be as significant as we think. Doc, are you aware of what that big trade means??

There were some unusually big trades apart from that very large trade too, wonder if someone is trying to stock up on AZR prior to the crucial details of the bsf and ore pricing, wont be surprised if a bigger player wants to gobble AZR up before it becomes expensive?? This market 'correction' would give cheap entry to a lot of cashed up foreigners and local bluechips. Any rumours or news out West doc?

 

[el_ninj0]

Re: AZR Aztec Resources- Little guy going Up?

Could it mabey mean that a big player decided to drop out, or a big player got in? 50,000,000 is alot of shares, even by substantial share holder standards. They'd have to be one huge player to even be able to sell that many, let alone find buyers for it. Seems like something unusual has happend to me.

el_ninj0 puts on sherlock holmes hat...

 

[doctorj]

Re: AZR Aztec Resources- Little guy going Up?

It's one of those things that may be significant or may not be, only time will or can tell.

I'm led to believe that the volume was a result of CSFB doing some crossing at 3:38:10 today in a atleast half a dozen different stocks including AZR and CMR. AZR was by far the biggest on volume.

I don't know who from or who to. I would expect some more info being made available to market on who bought them early next week. Either way, finding a buyer or a syndicate of buyers for that volume at the price it went through is significant for those that are currently holding. As long as the DOW doesnt do to badly tonight, tomorrow should provide a better indication of the direction this is heading. In the mean time, I've fired off a few emails to see if I can't find out what the go is.