AZR - Aztec Resources
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RichKid
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Re: AZR Aztec Resources- Little guy going Up?
So if I hold AZROA (I had a high risk strategy outlined a number of posts above) I only have the choice of converting to shares at 20c per option held.
(rather than selling an AZROA oppy at 20c to the underwriter (which would have been a HUGE profit for those who bought AZROA at 0.001c, and would be unprofitable to the underwriter- glad I didn't go ahead with it! It was close though).
Thanks Croc, let's see how it goes, I hope any dilution (and repricing) doesn't trigger my stop or it'll complicate things.
crocdee said:
So if I hold AZROA (I had a high risk strategy outlined a number of posts above) I only have the choice of converting to shares at 20c per option held.
(rather than selling an AZROA oppy at 20c to the underwriter (which would have been a HUGE profit for those who bought AZROA at 0.001c, and would be unprofitable to the underwriter- glad I didn't go ahead with it! It was close though).
Thanks Croc, let's see how it goes, I hope any dilution (and repricing) doesn't trigger my stop or it'll complicate things.
doctorj
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Re: AZR Aztec Resources- Little guy going Up?
For those lurkers following this thread, AZR confirmed the underwriting of all of its unexercised options today as expected.
What this does to the share price remains to be seen. It is likely the shareprice will retract tomorrow, especially given the triple top formation from Friday's close. How much remains to be seen.
For those lurkers following this thread, AZR confirmed the underwriting of all of its unexercised options today as expected.
What this does to the share price remains to be seen. It is likely the shareprice will retract tomorrow, especially given the triple top formation from Friday's close. How much remains to be seen.
RichKid
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Re: AZR Aztec Resources- Little guy going Up?
Anncts look good, director buying at 20c for $100k (albeit due to Director's option exercise) is not bad at all. Also like the terms of the option issue to underwriters, might be standard but seeing AZR over 30c is nice so no dilution there in the short term.
So only need to get through this next week or so after AZROA conversion. Another interesting fortnight ahead.
Anncts look good, director buying at 20c for $100k (albeit due to Director's option exercise) is not bad at all. Also like the terms of the option issue to underwriters, might be standard but seeing AZR over 30c is nice so no dilution there in the short term.
So only need to get through this next week or so after AZROA conversion. Another interesting fortnight ahead.
doctorj
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Re: AZR Aztec Resources- Little guy going Up?
I'll be watching closely for opportunities to buy over the coming days.
I'll be watching closely for opportunities to buy over the coming days.
doctorj
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Re: AZR Aztec Resources- Little guy going Up?
On AIM, AZR closed at what is approximately equivalent to 22.5c, so perhaps those buying opportunities won't come.
AZR's AIM Quote
On AIM, AZR closed at what is approximately equivalent to 22.5c, so perhaps those buying opportunities won't come.
AZR's AIM Quote
RichKid
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Re: AZR Aztec Resources- Little guy going Up?
You never know doc, people might get nervous and you may get some at your order price. Still 20c seems solid but option exercise may test it temporarily, Tech reckons it wont affect the pricing, if he's right (the sp is staying strong) then buying around 20c wont be bad as this will turn into a strong run. Every annct so far has reduced the risk profile of the co, that is what is holding it back atm. Hope you get the price you're after.
As for AIM prices, things always fluctuate between markets so be watchful.
You never know doc, people might get nervous and you may get some at your order price. Still 20c seems solid but option exercise may test it temporarily, Tech reckons it wont affect the pricing, if he's right (the sp is staying strong) then buying around 20c wont be bad as this will turn into a strong run. Every annct so far has reduced the risk profile of the co, that is what is holding it back atm. Hope you get the price you're after.
As for AIM prices, things always fluctuate between markets so be watchful.
doctorj
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Re: AZR Aztec Resources- Little guy going Up?
Looks like 19.5 may be tested tomorrow, pending what orders come in before open tomorrow. I've picked up another portion of these today and will continue to look for opportunities to do so.
Looks like 19.5 may be tested tomorrow, pending what orders come in before open tomorrow. I've picked up another portion of these today and will continue to look for opportunities to do so.
doctorj
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Re: AZR Aztec Resources- Little guy going Up?
Close at market highs yesterday is a bullish signal for this one. Most likely just seeing what I want to though. However, a good announcement this morning for AZR and pre-open sees 2.7mill shares on the buy side at or above 21.5 a share.
This stock continues to suprise me.
Close at market highs yesterday is a bullish signal for this one. Most likely just seeing what I want to though. However, a good announcement this morning for AZR and pre-open sees 2.7mill shares on the buy side at or above 21.5 a share.
This stock continues to suprise me.
RichKid
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Re: AZR Aztec Resources- Little guy going Up?
Here's the release, I'm surprised by the buy depth too but when you look at it things couldn't be better for AZR, everything has gone to plan so far (even the oppies are fine) only the resource upgrade left to be announced as exploration continues further upgrades are likely and the iron ore price negotiations are nearing completion worldwide. The underwriting agreement specified 30c as a condition of exercise, which indicates that is the next stop in the medium term for the share price.
....Well, went upto 22.5c there for a bit on open, volume ALREADY AT 11 million!! Another record day coming up. Compare AZR to Fortescue's venture, no BGS even yet and they think they're in heaven. Much better to be in a steady strong mover like AZR for iron ore imo, with top management! Read the Fortescue story in Crickey.com for some interesting info.
Here's the release, I'm surprised by the buy depth too but when you look at it things couldn't be better for AZR, everything has gone to plan so far (even the oppies are fine) only the resource upgrade left to be announced as exploration continues further upgrades are likely and the iron ore price negotiations are nearing completion worldwide. The underwriting agreement specified 30c as a condition of exercise, which indicates that is the next stop in the medium term for the share price.
....Well, went upto 22.5c there for a bit on open, volume ALREADY AT 11 million!! Another record day coming up. Compare AZR to Fortescue's venture, no BGS even yet and they think they're in heaven. Much better to be in a steady strong mover like AZR for iron ore imo, with top management! Read the Fortescue story in Crickey.com for some interesting info.
RichKid
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Re: AZR Aztec Resources- Little guy going Up?
AZR is holding up well, looks like it'll be mid February before the price effect of the option exercise is known. Today's annct said 14 February, only some holders have converted so the underwriters will be useful.
AZR is holding up well, looks like it'll be mid February before the price effect of the option exercise is known. Today's annct said 14 February, only some holders have converted so the underwriters will be useful.
doctorj
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Re: AZR Aztec Resources- Little guy going Up?
With buyers at 0.22 and a nice strong close at 0.225, we could be in for an interesting few days.
With buyers at 0.22 and a nice strong close at 0.225, we could be in for an interesting few days.
RichKid
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Re: AZR Aztec Resources- Little guy going Up?
Yep doc! Looking good, hit 23.5 this morning and very high volume on the up again suggesting this'll gradually climb through to 24c.
Have you read the annct on the underwriting arrangement from last week? If what I see is correct we hardly have to worry about dilution till the sp gets to over 30c as they aren't allowed to exercise their 23c options till then.
There was only a small number of AZROA 20c options converted, at these prices and volumes it wont have a big effect imo. If many more AZROA holders had converted the story would have been different.
The current trend line is nice and steep and all the recent lows have been bouncing off it.
Yep doc! Looking good, hit 23.5 this morning and very high volume on the up again suggesting this'll gradually climb through to 24c.
Have you read the annct on the underwriting arrangement from last week? If what I see is correct we hardly have to worry about dilution till the sp gets to over 30c as they aren't allowed to exercise their 23c options till then.
There was only a small number of AZROA 20c options converted, at these prices and volumes it wont have a big effect imo. If many more AZROA holders had converted the story would have been different.
The current trend line is nice and steep and all the recent lows have been bouncing off it.
RichKid
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Re: AZR Aztec Resources- Little guy going Up?
I'm still surprised by the buy depth and volume (16m today) but it just goes to show what happens when the market gets behing a stock that wasn't on the radar screens and revalues it from the silly price it was at not long ago (recall the old broker valuations of 23c before recent resource upgrades). I thought this may go sideways for a few days but people are obviously expecting more good things soon, let's hope the anncts don't dissapoint.
I'm still surprised by the buy depth and volume (16m today) but it just goes to show what happens when the market gets behing a stock that wasn't on the radar screens and revalues it from the silly price it was at not long ago (recall the old broker valuations of 23c before recent resource upgrades). I thought this may go sideways for a few days but people are obviously expecting more good things soon, let's hope the anncts don't dissapoint.
doctorj
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Re: AZR Aztec Resources- Little guy going Up?
It is still edging its way up and finding new support levels. With the results of the BFS due soon and the resource upgrade presumably somewhere in the near future the 30c target for those options may only be a month away.
I too have been impressed by the depth. I'd decided to stop trading this share after taking a cent and a bit here and there back around the 20c mark and shove it in the bottom draw, but all this action seems to warrent following it more closely. The way it hit 23.5 early this morning seemed particularly encouraging.
It is still edging its way up and finding new support levels. With the results of the BFS due soon and the resource upgrade presumably somewhere in the near future the 30c target for those options may only be a month away.
I too have been impressed by the depth. I'd decided to stop trading this share after taking a cent and a bit here and there back around the 20c mark and shove it in the bottom draw, but all this action seems to warrent following it more closely. The way it hit 23.5 early this morning seemed particularly encouraging.
doctorj
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Re: AZR Aztec Resources- Little guy going Up?
Maybe not. This has lost 2.5c between its high of 23.5 to now. I wonder if the market believes 21-22c represents fair value for AZR.
Maybe not. This has lost 2.5c between its high of 23.5 to now. I wonder if the market believes 21-22c represents fair value for AZR.
RichKid
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Re: AZR Aztec Resources- Little guy going Up?
Yep, falling back abit, may go to 20c judging by depth, probably just sitting tight waiting on more news. Hard to say for sure but volume has dropped. Resouce upgrade news should come sooner than the BSF, the BSF may take till next month but if we're lucky it'll be sooner. If I recall correctly the co said BSF completion was expected first quarter 2005 which technically gives them till March, unless they extend it to second 2Q05.
Yep, falling back abit, may go to 20c judging by depth, probably just sitting tight waiting on more news. Hard to say for sure but volume has dropped. Resouce upgrade news should come sooner than the BSF, the BSF may take till next month but if we're lucky it'll be sooner. If I recall correctly the co said BSF completion was expected first quarter 2005 which technically gives them till March, unless they extend it to second 2Q05.
tech/a
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Re: AZR Aztec Resources- Little guy going Up?
Sold this morning at 20.5
Sold this morning at 20.5
doctorj
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Re: AZR Aztec Resources- Little guy going Up?
Well, it certainly has been a decent fall. It bounced off the high of 23.5 and back down to 20 - where support is beginning to look a bit shakey. I wonder what has been the catalyst of all this. AZR has dropped like a stone the second someone bought at 23.5.
Well, it certainly has been a decent fall. It bounced off the high of 23.5 and back down to 20 - where support is beginning to look a bit shakey. I wonder what has been the catalyst of all this. AZR has dropped like a stone the second someone bought at 23.5.
