Australian (ASX) Stock Market Forum

BLZ - Blaze Minerals

Jump to new
Nickel Sulphide targets at Jimberlana - could be the next Nebo-Babel, probably not in the first drill holes but hopefully some sniffs of Ni-Cu with PGE enrichment when they get first look.
 
On July 15th, 2021, Blaze International Limited changed its name to Blaze Minerals Limited.
 
The BLZ share price has halved in the last five months, down from 5c to a low of around 2.5c. The share price surged in May following news that BLZ had acquired six tenement applications in the Earaheedy Basin but has done little but decline since then. Looks like management has failed to keep the momentum and positive sentiment alive and BLZ just slowly drifted south.

There has has been some positive price action this week, but I'm not sure it will amount to anything. BLZ needs some good news.

big.chart-BLZ.gif
 
Greggles pointed out that SP 5c to a low of around 2.5c. The Earaheedy tenure is starting to be granted - I expect positive sentiment to come back into this one - target >5c
 

Attachments

  • Tenure Grant Earaheedy Nov 04 and 08 2021.JPG
    Tenure Grant Earaheedy Nov 04 and 08 2021.JPG
    173.1 KB · Views: 9
On the back of GAL'S sulphide hit you would have to think BLZ are in the box seat to drill the Nickel Sulphide targets at Jimberlana - could be the next Julimar.
 
Blaze Minerals my pick for Jan monthly comp reason being looks to have bottomed in price and volume news will definitely give it a boost ( not juice lol) lots happening with field activities in the Earaheedy basin in WA. Neighbour’s doing well only a matter of time for BLZ options have until March 2022 makes for a interesting times ahead . Nickel and other metals also still rising plenty of room here low mc and still have cash in bank always dyor my opinion Springs.
 
With BLZ blaze my pick for Jan comp going ok neighbour RTR in a TH this could spark some interest in blaze as that area is prime real estate atm lots to look forward too base metals prices still climbing watching closely could all change come Monday have a good weekend always dyor & DD Springs
 
Consistent buying all day today right up to close.
Whether its a function of RTR or Earaheedy in general we should know once the Jimberlana dyke is drilled.
In the right area for sure. It put on 20% today.
 
@Springs Good mention of the RTR nearology potential. Punters have gone ballistic for BLZ after the good RTR results.
You selected it for the Jan22 comp but not the Feb 22. Unlucky.
 
Cheers Peter2 yes out by a whisker but not complaining got a few of each heads & options just getting noticed this is possibly right place right time small amount of SOI , only going to get tighter always dyor Springs .
 
Just $901,580 left in cash at the end of 2022. BLZ has 650 km2 of tenure across four tenements in the Earaheedy basin near RTR and STK. Some drilling occurred in 2022 at the Frere/Yelma unconformity but the grades were poor and the widths not particularly thick.

Looks like time may be running out for BLZ.

I'll leave the last word for the auditors:

For the half-year ended 31 December 2022 the Group incurred a net loss of $554,633 (2021: $536,952), has a working capital surplus of $834,347 (30 June 2022: $1,742,651), a net cash outflow from operating activities amounting to $203,770 (2021: $243,616) and had cash available of $901,580 (30 June 2022: $1,782,594).

The Directors have reviewed the business outlook, cash flow forecasts and immediate capital requirements and are of the opinion that the use of the going concern basis of accounting is appropriate. Based upon this assessment, a capital raising or significant reduction in operational expenditure will likely be required during the period of twelve months from the date of approval of these financial statements.

Should the Group not be successful in obtaining adequate funding, or adequately reducing operational expenditure as required, there is a material uncertainty that may cast significant doubt as to the ability of the Group to continue as a going concern and whether it will be able
to realise its assets and discharge its liabilities in the ordinary course of business.
Click to expand...
 
Has jumped to .... Canadian ?? lithium.

where there's smoke there's fire... and up 100 per cent after coming out .
Screenshot_20230529-151330_CommSec.jpg

Screenshot_20230529-151438_Drive.jpg
 
Top