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AZS - Azure Minerals

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Hi AZS subscribers

In case you have missed out this section in the West Australian of today edition

Azure falls on Mexican JV

5th June 2008, 13:45 WST


Shares in West Perth-based Azure Minerals fell 18 per cent this morning after the company announced it had completed the earn in requirements of its planned joint venture with Canada-based Geoinformatics Exploration

More details are given under
http://www.thewest.com.au/default.aspx?MenuID=32&ContentID=77140
 
I am assuming the dump was due to this part of the statement:

'with the company's stake due to increase over the year after Geoinformatics elected not to contribute to the year's exploration budget'.

So the thinking is less cash inflow, means equity raising, means dilution etc. However the other side of the coin is more ownership of Nacho et al means more dollars furtgher down the track. The market just does not work like that at the moment. Short term capiatl growth - that is the mantra.
 
Today’s results from APR-DD-001, the first drilled by Azure, confirm the high grade nature of the copper, gold and silver mineralisation within the Promontorio deposit, with the following strongly mineralised intercepts being returned:
• 4.00 metres @ 9.7% copper, 6.6g/t gold & 134g/t silver from 52.0 metres;
including
2.85 metres @ 13.1% copper, 8.3g/t gold & 177g/t silver from 53.15 metres.

Selective sampling of the massive sulphides returned very high grade assays, including:
• 0.40 metres @ 30.9% copper, 21.9g/t gold & 435g/t silver from 53.15 metres; and
• 0.30 metres @ 23.4% copper, 26.2g/t gold & 321g/t silver from 54.30 metres.


Early Promontorio drill results are very encouraging. Let's hope Tony Rovira can repeat his AMEC Prospector of the Year Award (2000) in 2008/2009.

AZS management are always very proactive in making announcements to the market. They seem to release frequent news especially during periods of volatility. Helps to support the SP.
 
Issue of Right Shares announced in ASX today at 12.5 cents
It means the company will try some how to hold the fire of SP above 12.5 cents until the SPP is totally exhausted.

Any comments and input to the attachment and where AZS could go from here. IMO it is the best way to raise fund with least risk compared to borrowing. Shareholders are least worried or do nothing when the prices will fall after the rights are taken.

Having said that the silver lining is the shareholders will have sunshine when the SP rebounds back.


Cheers
 

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looks similar to what tmr did before they crashed and burned recently .... dont think they will fall that far though because tmr had quite the stuff up.
 
AZURE HITS +40% COPPER AT PROMONTORIO

On 13th August Azure Minerals Limited (ASX: AZS) announced that results of the mineralised intercept in drillhole APR-DD-009 were delayed due to the presence of three very high grade copper samples. Those copper grades required re-analysis using a specialised technique as they were too high for standard analytical methods.
The Company is pleased to advise that it has now received those outstanding assays, which to date are the highest copper grades returned from the Promontorio Project, being:
• 0.50 metres @ 43.9% copper from 86.00m;
• 0.50 metres @ 46.6% copper from 90.25m; and
• 0.40 metres @ 44.2% copper from 130.60m.
These samples are contained within wider zones of massive sulphide mineralisation which returned the following exceptional high grade intercepts:
Mina Vieja Vein
• 9.40 metres @ 12.5% copper, 3.9g/t gold & 266g/t silver from 82.00m;
including: 2.65 metres @ 27.7% copper, 7.4g/t gold & 501g/t silver from 84.50m;
and: 1.35 metres @ 28.1% copper, 6.1g/t gold & 654g/t silver from 89.75m.
Veta Grande Vein
• 1.40 metres @ 20.7% copper, 1.2g/t gold & 270g/t silver from 130.60m;
including: 0.80 metres @ 35.6% copper, 1.8g/t gold & 455g/t silver from 130.60m.
To date Azure has completed drilling 29 holes for a total of 5,239 metres, and analytical results have been received for drillholes APR-DD-001 to 010. Resource definition drilling is continuing and the Company is on track to complete and publish a Mineral Resource in the fourth quarter of 2008.



Has anyone received their allocation from the SPP yet? I haven't got mine yet and I thought they were to be in accounts today. Anyone?
 
spottygoose said:
AZURE HITS +40% COPPER AT PROMONTORIO


Has anyone received their allocation from the SPP yet? I haven't got mine yet and I thought they were to be in accounts today. Anyone?
Click to expand...

Hi Spotty and other AZS holders,
I have not received the share allocation either. The original announcement said shares allocated by Aug 29. Running late?

A comment above:
matt1987 Re: AZS - Azure Minerals

looks similar to what tmr did before they crashed and burned recently .... dont think they will fall that far though because tmr had quite the stuff up.

I wondered what matt1987 meant by this. I have not held or really followed TMR other than noting they have fallen considerably. Would Matt or others be able to reflect further on this somewhat concerning statement?
Thanks all
Golf
 
yeh looking back i dont know exactly what i meant there haha ..... may have been late one night after a few drinks, looking to take out the anger that i have with tmr on other threads.

in all seriousness, i think i was more referring to how tmr and azs were steadily falling while announcing decent drilling results every now and then. of course azs cant fall in a heap like tmr as they didnt stupidly buy another company without doing a due diligence on them, then realise thats its useless .....
 
Golf 16 said:
Hi Spotty and other AZS holders,
I have not received the share allocation either. The original announcement said shares allocated by Aug 29. Running late?
Click to expand...

Hi Golf. I am wondering if perhaps they extended the Aug 29 date when they extended the closing date. Hope so as I would hate to have missed out. Cheers, Spotty
 
Trading halt today for AZS? This was unexpected...hopefully it is all good news! The company certainly has much upside with an excellent portfolio of new and advanced projects. Mangement is strong with a proven track record. However, these are difficult times and the market has been full of bleak news with companies strapped for cash. ?capital raising ?major investor ?significant resource upgrade ?joint venture partner ?mine development. I will definitely keep a close eye on AZS over the next few days!
 
Well it was in your guesstimate Piggy...

Capital Raising...harsh environment all round. Wonder how much and the discount?

DNH
 
Looks like there may be some action today, IMO the stock has been way oversold and is due to rise on expectations of some good results coming from Mexico.
 
gtv said:
Looks like there may be some action today, IMO the stock has been way oversold and is due to rise on expectations of some good results coming from Mexico.
Click to expand...
Huh? Looks like it's going to open at .05. Same as yesterdays close.

And the results from Mexico came out yesterday. Is this what the stock is supposed to rise up in anticipation of?


You are right though, it's in the sin bin. Heaps of juniors are up 300% plus from the bottom while this is on life support.
 
A good percentage increase yesterday, although I know not a lot in terms of price. I have been scanning the news and websites for news related to this company and am unable to find any.

Anyone have an idea?
 
JV announced with the big Ox (or is that Aussie) OZL on one of the tenements now 100% owned by AZS.

Farm-in is 70% for OZL to spend $13m. Expect more of the same and a working capital raising as the cash balance is low.

$13m is a reasonable size committment for a drilling campaign. Going for the big Cu.

On the watchlist again. Maybe Fat Profit will start ramping it again now
 
Out of the blocks and running this morning.Fat Prophets have recommended them.

And ,of course they got a speeding ticket

Must be delayed reaction to the joint venture with Oz Min.

Or traders at their game?
 
traders are getting into the stock with the higher liquidity
the share was stuck today in the 10/10.5 traders rut
 
Whatever it is..they are in trading halt today.

Perhaps a capital raising in the wind? We will know on Thursday
 
typical share pump and capital raising............
how often are we seeing this occur.....
almost daily with the miners at present
 
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