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AZR - Aztec Resources

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Re: AZR Aztec Resources- Little guy going Up?

crocdee said:
hi rich
the oppies expire 31-1-05 so nearly 3 weeks to go.
be very interesting to see how it all pans out over that period but with no takers on the oppies @ 0.1c too risky for me to even contemplate.
regardless of whether the sp increases to get the oppies over the line or not AZR wiil definetly be a very profitable company in due course.
burstan is well regarded in the industry so he probably has more than 1 ace up his sleeve.
volume increased today with more buyers than sellers so it appears the interest is generating. where to from here well tomorrow is another day but things are looking more promising than last week. as always we will have to wait and see.
regards croc
Click to expand...

Hi Croc,
With the option expiry- I thought they stop trading 21Jan05- I haven't traded oppies so close to expiry before hence my estimate of time. There are now buyers at $0.001c. Expiry is 31Jan so I guess you have to convert by that time but if they aren't tradeable after 21Jan then I assume we have to transact on the exchange by then. Please correct me if I'm wrong, still learning this stuff...

Today (Tuesday) has seen volume EXPLODE to over 8 million, recent volume has been under a million, it'll probably close the day at over 10m as it's only 12.30pm atm. Vol explosions usually foretell an annoucement so let's hope it's a great one! Must be due this week. The only other explanation is that the
Portman play has attracted investors to this sector as AZR may well end up a takeover target considering their high grade ore and low costs. The expected resource upgrade will also see them approach Portman in size of ore shipped per annum.

Tech; looks like you were right as well, this one appears to be a goer, let's see how the price settles, an action packed week ahead...
 
Re: AZR Aztec Resources- Little guy going Up?

hi rich
i am in the same boat as you about options have never held them this close to closing date so can't answer your question.
maybe tech can shed some light on it for us both.

volume will be well over 10mil today nearly there now infact just hit 17.5c which is the resistance point to higher levels much higher i hope.

are you a holder yet?

regards croc
 
Re: AZR Aztec Resources- Little guy going Up?

Hi Croc,
Yes, volumes are going higher and higher, it should quieten in a bit for the arvo as it reaches 17.5c. I'm not a holder yet but should be sometime today. Also wathcing oppies very closely, they've come to life again!! One day isn't going to turn it for this co so, we'll see how it pans out over the next few days. Technicals are shaping up well. It's the annoucements that are the key...Are you thinking of entering AZR/AZROA?
 
Re: AZR Aztec Resources- Little guy going Up?

hi rich
i entered AZR 27 -9-04 @ 10.5 and have been waiting patiently for it all to come together.
AZROA is too risky for me atm and more than likely stay that way.

regards croc
 
Re: AZR Aztec Resources- Little guy going Up?

Hi Croc,
Glad to hear you got in early, that's a nice profit you're sitting on!! If you're already in AZR no point getting overexposed.
I've just got in at 17c with a tight stop at 16c. Still watching AZROA. Currently AZR around 17c may dip to 16c or shoot through to new highs, volume is very positive, now for that news!
 
Re: AZR Aztec Resources- Little guy going Up?

Hi guys

Decided to hop on the band wagon for the ride at .175.

Happy trading :D
 
Re: AZR Aztec Resources- Little guy going Up?

Welcome aboard the ride, hope you weren't relying on our views alone, make sure you have an individual plan.
AZR volume is at an all time high (beat previous high of 15m), currently on its way to 19m, sure to be known to a lot more traders by the time the day is out, it has now broken all previous highs, including previous resistance at 17.5c and looks like it'll close the day on the up at 18c or above...let's see how it pans out.
 
Re: AZR Aztec Resources- Little guy going Up?

tech/a said:
Yup.

17.5
Click to expand...

Tech,
Does that mean you bought the stock at 17.5c or that you reckon it's finally on it's way as you predicted once beyond 17.5c?

As for volume- wow!! This sort of thing usually sees a query from the ASX unless an annoucement is made- am I wrong???

Still looking at AZROA, remember 20c is the exercise price and AZR is within spitting distance of it!! It still needs to go 20c+ to be attractive. BUT EASY TO GET WIPED OUT ON AZROA FOR THE UNWARY (people like me).

As at 11Jan05 for AZR:

Bid Offer Last
0.175 0.180 0.175

Change Open High Low Volume
+0.025 0.155 0.185 0.150 23,697,800
Click to expand...
 
Re: AZR Aztec Resources- Little guy going Up?

Bought it.
Triangle says 19c
Close beyond 17.5 would have been nice.
Stop 15.5 which will indicate a return to consolidation (For me anyway).
 
Re: AZR Aztec Resources- Little guy going Up?

tech/a said:
Bought it.
Triangle says 19c
Close beyond 17.5 would have been nice.
Stop 15.5 which will indicate a return to consolidation (For me anyway).
Click to expand...

I had 19c as my initial target too for the same reason, I didn't think it'd go past 18c today but all that volume at the tail end of today suggests it'll continue through there tomorrow to new highs. Also note the large descending triangle (or pennant?) on the long term charts (support at 10c), upper border broken today before last third of triangle suggesting a strong breakout, especially with the volume. Sometimes tech charts look perfect but it doesn't follow the theory so nothing is certain yet. I'm looking to lift my stop to 17.5c as soon as practicable, if this is a solid run then that'll become solid support.
 

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Re: AZR Aztec Resources- Little guy going Up?

If the volume continues tomorrow with the price continuing to head in the right direction, AZROA all of a sudden becomes interesting.
 
Re: AZR Aztec Resources- Little guy going Up?

doctorj said:
If the volume continues tomorrow with the price continuing to head in the right direction, AZROA all of a sudden becomes interesting.
Click to expand...

Yep, volume tomorrow above 17.5c will seal it. I reckon it's pretty fascinating already, just a matter of confirmation over the next few days. The buy depth is there alright and a lot of people would have seen this come up on their screens due to the volume spike. Also with the iron ore sector in play now it looks good. My only concern is that the annoucements expected need to be made this week or next week latest for this to blossom into one hell of a run. I hope we just haven't had a bunch of iron ore sector speculators jumping in, but HUGE volumes suggests otherwise.

Have you bought into AZR docj?
 
Re: AZR Aztec Resources- Little guy going Up?

Excerpt from story on iron ore sector and Portman consolidation. Includes reference to iron ore price hike and Aztec Resources AZR. Might explain some of today's interest in AZR and confirms long term prospects of AZR.
http://sg.biz.yahoo.com/050111/15/3ps06.html

....Analysts expect benchmark iron ore prices to rise more than 30% next Japanese fiscal year starting April 1 as Asian steel mills try to lock in supplies of the key steel making ingredient.

The latest round of price negotiations between Japanese buyers and the three biggest iron ore producers are set to begin in Tokyo Wednesday.

BHP and Rio Tinto - which export mainly from Western Australia - and CVRD are in a strong position due to an acute shortage of iron ore in Asia, analysts say.

Some analysts believe that the takeover interest in Portman will spread to smaller iron ore miners in Australia, such as Perth-based Mount Gibson Iron Ltd. (MGX.AU).

Mount Gibson shares rose nearly 6% Tuesday after the company said that a unit of China Railway Materials & Supplies Corporation, or CRMSC, recently bought a 5.9% stake in the company.

The current Portman takeover speculation follows an unsuccessful merger approach from Perth-based Consolidated Minerals Ltd. (CSM.AU), which sold its Portman shares last month.

Brokerage firm UBS said in a note to clients that Portman could potentially be worth A$5 a share and re-ignite takeover speculation for other mining companies that are involved in the steel-making process.

"Other iron ore players that do not have substantial links to their customers already, if there is further appetite for iron ore, could include Midwest Corp. (MIS.AU), Mount Gibson Iron, and Aztec Resources Ltd. (AZR.AU)," UBS said.

The broker said possible coal sector targets might include Macarthur Coal Ltd. (MCC.AU), Excel Coal Ltd. (EXL.AU) and Gloucester Coal Ltd. (GCL).

"For manganese, one could consider Consolidated Minerals," it added.

By Stephen Bell, Dow Jones Newswires; 61-8-9245-5120; stephen.bell@dowjones.com
-Edited by Ian Pemberton
Click to expand...
 
Re: AZR Aztec Resources- Little guy going Up?

hi all
well well wel AZR did perform today however i also consider the close a little disappointing.
interesting to read the last few posts.
presumably by now we all know the fundamentals of this company, now i'm waiting for an announcement for confirmation.
todays action is nothing new in the market, it is the rumour mill at work in the lead up to an announcement or possibly more [which really should be the case here] regardless there is one in the wind within the next day or two.

the question now is where do we make an exit.
i will be waiting to see what they disclose at the announcement then i will re-assess my position.
like all other stocks there will be tradible positions for the daytraders and others wish to try their luck.

looking forward to tomorrow
regards croc
 
Re: AZR Aztec Resources- Little guy going Up?

I'm in the process of moving my brokerage to Comsec and unfortunately placed a buy order on this stock when my account was activated at about close today.

I've placed the order but I'm considering withdrawing it to be re-submitted @ market 10-30mins into trading tomorrow. At the moment I'm torn between rumour of an announcement and a nagging suspicion the stock will retrace tomorrow.

Speaking of which, where do I set up stop-losses with Comsec?

Edit: What I also meant to say, was to Croc - we exit the same time we always exit... when it hits the stop or begins consolidation at a new price.
 
Re: AZR Aztec Resources- Little guy going Up?

Re stop/exit

If it goes then Ill look at it but currently Im at 15.5 stop if its taken out Im out thats the first issue.
 
Re: AZR Aztec Resources- Little guy going Up?

I ended up getting in at 0.170 and adjusted my stop from 0.160 to 0.155 accordingly. A fairly soft looking open, possibly profit taking from yesterdays highs. MRX looks like it's generating some interest today.
 
Re: AZR Aztec Resources- Little guy going Up?

doctorj said:
I ended up getting in at 0.170 and adjusted my stop from 0.160 to 0.155 accordingly. A fairly soft looking open, possibly profit taking from yesterdays highs. MRX looks like it's generating some interest today.
Click to expand...

Welcome aboard AZR doc, yes, it has been a soft open, right on the resistance at 17.5 Good depth though and already upto 2m, let's see how it is once the usual morning turmoil is over and the smart money starts flowing after lunch.

As for Matrix Metals (MRX), see this thread (below), it's on saucer patterns and has an explanation of my strategy, if it does well I might win the tipping comp too! Yeay!!! https://www.aussiestockforums.com/forums/showthread.php?t=761
 

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