AZR - Aztec Resources

doctorj said:

In terms of support, AZR has been well supported by some of the larger Perth based brokers.

Time can only tell. IB's comment that it's not a company maker, but a company starter is a positive for me. While they've had to be flexible as a result of increased costs, they're looking for this to be a company starter. If AZR can become more than a 1 mine company, then that's a positive.

Depends on your time frame.

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doctorj said:

If AZR can become more than a 1 mine company, then that's a positive.

Depends on your time frame.

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doctorj said:

I'd be quite happy if their core competency became finding old mines that have been prematurely closed and revamping them.

Most of their uranium assets are in WA. It doesn't matter how fantastic the ore body is if they're not allowed to dig it up. See SMM. By all accounts several good deposits around Mt Isa, but they can't do anything about it.

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RichKid said:

Funny thing is that even a rumour can ignite little co's like AZR so be ready to sell on a mad up day, govt's may change policy on Uranium.

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el_ninj0 said:

Whats goin on here?, thats the biggest one day gain for AZR since april. Yet no announcement was made?, am I out of the loop or something?, do announcements get announced elsewhere before the ASX gets them??

Also, if there wasn't an announcement, was is the reason for the gain?

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RichKid said:

As BlackDogsBarking say 'Koolan Island leaks like a sieve', so insiders know something and may have bought or it's something else. Maybe more exploration results? Who knows. Nice big day though.

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doctorj said:

People need to realise the Perth business community is very small.

Many people know the contents of announcements sometimes several days in advance. They do trade it.

I would expect that a portion, or all of the BFS has been leaked or an announcement is due in the next few days.

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doctorj said:

As reported today in the Fin Review, Redport has purchased AZR's royalty over PDN's Langer Heinrich project in exchange for an issue of 5.5million Redport shares (closed yesterday at 5.1c) and the right to first right of refusal to buy possible iron ore, manganese and chrome resources at redport's other tenements.

Redport will earn 12c per kg of U3O8 sold from LH - expected to be worth between $1.5-3.8million over the predicted 11 year life of the mine. Redport purchased the royalty with the goal of earning long term cash flow.

From AZR's perspective, they get to divest themselves of something that wasn't going to be material to their expected cashflows and give them potential access to some of Redport's tenements all the while maintaining leverage to uranium through Redport's other projects.

Also, I would expect the BFS to come out tomorrow with some luck. I look forward to finally being able to get a better idea of what Koolan is worth.

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doctorj said:

I doubt AZR gaining an interest in Redport would generate any buying at all. It's that immaterial to AZR, they've not even announced it.

Decent volumes lately, but nothing particularly exciting. Perhaps the BFS is a few weeks off yet.

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RichKid said:

That's the problem with insiders, they may have just fed snippets of 'rumour' and that could have got em going, no point speculating too much, hence my comfort in the charts as my 'insider'!! I love the descriptions of insider buying patterns in Edwards and Magee (back when no one outside The Street knew how it worked).
You are right, they haven't even announced it, guess any benefits will come years down the track.

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johnno261 said:

Regardless of the above rumours, lets all look at the big picture and it appears that Mr.Burston has let the market down with not presenting the BSF once again on time!!! Maybe the BFS will come out tomorrow, but I am concerned that we are yet to see anything!! Just my opinion.

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