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BRN - Brainchip Holdings

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Aziana has been active in Madagascar since 2006 as a private explorer focused on gold and bauxite potential.

  • 3 Advanced Projects (Gold & Bauxite)
  • 5 Additional Gold Projects (Au & Au-Cu)
  • 950km² of Priority Permits

http://www.aziana.com.au
 
Re: AZK - Aziana

Textbook set up for what I look for in a spec stock. Cash equivalent to MC. Small number of shares on issue. Decent preliminary samples indicating a chance of success following drilling. Unrecognised.

MC - $6.2m
SP - 6.5c
Shares - 95m (17m unquoted)
Options - 47m (@25c sept 13)
Cash - $6m

New zone of significant Cu-Au-Mo results at Anosivola
● Mapping and sampling has discovered a new zone of significant Cu-Au-AgMo within intrusive diorites 600m to the east of Anosivola Hill.
● Best surface channel sample assay (Sample No 42251) of 3.15 g/t Au, 7.9% Cu, 43.6 g/t Ag and 0.27% Mo over 1m.

Summary of projects.
Alakamisy Gold Project
The air core drilling program has returned significant results from composite samples confirming gold mineralisation in the laterite profile on the western end of the first drill fence. The most significant results so far are:
15m* @ 1.61g/t Au from 20m including 10m @ 1.98 g/t Au from 25m in hole AAC001
30m* @1.35g/t Au from 10m including 5m @ 6.12 g/t from 30m in hole AAC002
*Note: these are 5m composite samples and results from 1m splits are awaited.

Manantenina Bauxite Project
A maiden inferred JORC resource estimate for the Esama block (6.25km²) of 10.09 million tonnes at 34.1% AvAl2O3 and 2.3% RxSiO2 was announced on 29 October 2012.
Continuity of the bauxite mineralisation has also been confirmed by grid based auger sampling on the Ampasimena blocks (25km²) and as previously reported across the Soavary blocks (40km²).

Anosivola Cu/Au/Ag Project
Mapping, trenching and diamond drilling has identified Cu/Au/Ag mineralisation over an area of at least 2km x 1km and has extended the scope and scale of the project.
Grab samples of the mineralised veins assayed up to 30.6 g/t Au and 35.0% Cu (separate samples).

Belanitra Graphite Project
Exploration work is underway to confirm the extent and quality of graphite mineralisation along strike (10.5km historical mapping) and depth. Grab samples of the graphitic seams collected during early stage reconnaissance
returned 18.1% carbon in the seams with visible coarse flake and 5.9% carbon in the interbed layers.
 
Re: AZK - Aziana

..... and then they come out with this.

http://www.asx.com.au/asxpdf/20130415/pdf/42f833ng1t3wly.pdf

The market didn't like it and neither do I. The best indication of a project is often what is next door. AZK's neighbour is producing 25-30 barrels oil per day. I could comb my greasy cousins hair and get more out of it than that.

This from the announcement.

"Independent experts Collarini & Associates of Houston have determined initial net 3P oil reserves of 4.5MMbbl’s (Million barrels) and 3P gas reserves of 4.9Bcf (Billion cubic feet). In addition significant additional exploration upside exists with Prospective Oil Resources of 4.5MMbbl’s and 50.6Bcf of gas were estimated by Collarini & Associates."

I couldn't give a hoot about the gas aspect, there is plenty of that around. There is no point quoting 4.5MMbbl's oil, when there is no knowledge of how much is recoverable.
AZK talk of using the cash flow from Sleeping Tiger to fund its other assets, any mention of an expected ETA for positive cash flow? None mentioned.

Then there is the dilution which destroys the MC:Cash ratio.

If both companies are recommending the offer to shareholders it usually means someone is getting bent over. Can't imagine the sellers bending themselves over, not that it hasn't happened in the past to be honest.

Textbook, just became reading material when on the throne. Off the watchlist.
 
Re: AZK - Aziana

AZK: Would have been a good Pav momentum trade on the BO >0.25. No buy order means no trade. That's history.

I was looking at buying the BO in MLX and I had to find out what metal is the company involved with (Au, Sn, Ni). It seems the recent price rise in MLX is due to its 14% holding of AZH and its BrainChip product.

It made me wonder if BrainChip could learn to trade.
 
On September 10th, 2015, Aziana Limited (AZK) changed its name and ASX code to Brainchip Holdings Limited (BRN).
 
Another backdoor listing of a tech company from a mining explorer.

I took a look at brainchip and it seems somewhat (but not actually very) interesting. If I had to guess, it'd be that they burned some software machine learning onto a chip. I actually doubt it could ever compete with software only clusters like Google DeepBrain thanks to huge scale.

However, it might be a useful product for small scale electronics looking to add machine learning capability to a product.

What concerns me is this trend of tech companies backdoor listing from failed mining explorers, definitely seems like a bubbly indicator.
 
skc said:
+1

Here are a few recent articles about it.

http://www.bloomberg.com/news/artic...or-listings-where-tech-companies-marry-miners

http://www.afr.com/technology/asxflooded-with-tech-startup-backdoor-floats-20141202-11yt9s

Feels like 1999 again.
Click to expand...

Wow, thanks for the links, some depressing reading there.

From the "famous last words" category:
For a fledgling company, a backdoor listing offers many advantages over an IPO. To go public, companies have to meet an exchange’s revenue and profit requirements, get regulatory approvals, hire banks to underwrite the offering, and conduct roadshows to market their stock to investors.
Click to expand...
Eager to reduce the market’s reliance on the Australian mining industry, regulators have tried to remove hurdles to backdoor listings.
Click to expand...
The exchange operator is actively promoting itself to emerging *technology companies from Australia, around south-east Asia and from the United States as an ideal *capital raising platform
Click to expand...
“We are looking to bring more US tech start-ups to the ASX as an *alternative to seeking venture capital funding," GTT Ventures director Charles Thomas said.
Click to expand...

From the "do as I say not as I do" category:
“Some of the problems with *backdoor listing we have seen *previously include non-disclosure of audited financial reports, a lack of *disclosure around business *models and future capital needs and issues with the independence of asset *valuations," he said.
Click to expand...
But while his firm has looked closely at the raft of new backdoor tech listings of the past year, it has not participated in any of the IPOs.
Click to expand...
 
Recent announcements and progress reports sparked my interest in this technology.
Initially, I waited for the gap to 18c to be filled; but I find that less likely - at least near-term.
As long as sp doesn't slip below 25c again, I'm buying with a view of trading swings up to 30c.
Above that, I may take an even longer-term view.

BRN am 26-02-16.png
 
15 - 18 - 21
It looks as if 18c shaping up as new support and 21 immediate resistance. While that remains the case, I'll hold or may even trade a few swingers.
However, a break above 21 would definitely see me on the buy side because that would most likely start another impulsive leg-up.

BRN n 21-07-17.png
 
extremely muted response to todays release is mostly due to past hype that has promised a truck load and delivered freebies with no contracts and no earnings

do or die time.....no longer having an edge in an industry that feeds on edges but it does have room to move with partners

BRN still needs to prove a single direction on a single tech rather than waffling from one mission to another without contracts

a follow-thru upday tomorrow likely signal a buy
 
a break above (.215's to trigger) .220's a tech signal for buyers would need to see some uptick in retail 21day money flows above zero (courtesy incrediblecharts.com) and preferably upto zero 13 week money flows at the close of this week to suggest a longer weekly upswing is inderway
 
Joules MM1 said:
pixel eyeing this ?
Click to expand...
Sure does :)

BRN n 25-10-17.png

It's been a long time of consolidation at the bottom; but the latest test of resistance at outstanding volume could suggest "something" is brewing. A breakout, were it to occur from here, could make it a "4th attempt success", additionally coming off a double bottom. Check also the Bullish Divergence in MACD.
 
pixel said:
Sure does :)

View attachment 73130
It's been a long time of consolidation at the bottom; but the latest test of resistance at outstanding volume could suggest "something" is brewing. A breakout, were it to occur from here, could make it a "4th attempt success", additionally coming off a double bottom. Check also the Bullish Divergence in MACD.
Click to expand...
nice call @pixel
azklf should confirm overnight
http://bigcharts.marketwatch.com/ad...sToggle=false&chartStyleToggle=false&state=15
 

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