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AZM - great presentation out today

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These guys are still been overlooked.

MC to oz au about $15.

This does not factor in the drilling at Bekpong and the initial JORC they plan to deliver in July. If they even have another 100K oz in that ground, then it's rediculously cheap. If they attain their aimed 1m oz au, at current prices that's puts them on $7 an oz. Insane.

Overlooked because it's in Ghana (not the great area) and there's a few goldies with spades about. But on a comparison with all those, about half their value.

I'm turning my RER sale into more AZM.

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  1. Miner's Avatar
    Hi Sean

    Great blog

    AZM presentation has really been great
    I noticed in their presentation the only company having lesser cost than AZM is Castle Minerals.

    Their price is 33 cents and the name of their company secretary is Dennis Wilkins Company Secretary.
    It is the same name of AZM secretary.

    Sheer coincidence or is he serving both the companies means great positive alliance

    What do you say ?

    Do they belong to same group ?

  2. Miner's Avatar
    I am sure you know it but I am excited to see that M Ivey is the largest shareholder in CDT also in the board of AZM

    Great synergy

  3. kennas's Avatar
    Interesting links there. However, I'm not sure about M Ivey, and it was one thing I was not sure about with AZM: The seed funding and personnel. I was a Croesus stock holder.

    Not sure about a tie up. Maybe. AZM have stated they will seek a partner, but probably not a junior. I note CDT's Wa prospect is along strike of Kunche though.

    Interesting iron ore prospect. 150Mt pre JORC at 43-56%. hmmmmm. That's flying under the radar I think.

    16m mc. Not much...
  4. kennas's Avatar
    Tried to pick a few more up the last 2 days but the stock ran away from me. Good, and bad. I was hoping to add another 50% to the position, before it closed on 15.

    Chart wise it's showing a great rounded bottom, and starting to form a cup. Would be nice if it makes it way to the left hand lip around 22/23 cents in the coming weeks.

    It's at these times you tend to kick yourself and say 'why the hell didn't I buy more under 10c!'
  5. kennas's Avatar
    Fvck it, I've been chasing this for the past few days to get more on but it keeps on being bought higher. Not much volume, but wuite a few %.

    Just hit my 15c target but am going to stay completely in while it's been chased.

    Don't really have a lot in it so no panic stations if it slides a bit and I get to pick up a few more.

    Should be some natural correction soon, gone from 9c to 15c in a coupla weeks.
  6. kennas's Avatar
    Found some more at 14.5

    Solid day.

    Still expect a pullback, although the rounded bottom looks pretty good to continue.

    I think this rsie is post Opes and in recognition of how undervalued it was and with drilling results coming up with an initial JORC and upgrade.

    May take a few off the table shortly, pending market action. Would nice to end up free carried.
  7. kennas's Avatar
    And the results out today are a great surprise to the upsdie I'd say. If they get 1m oz au equiv at Bepkong and Kunche we could see 40c by the end of the year I think, if POG doesn't implode...
  8. kennas's Avatar
    And hits 20c!


    Lots of resistance around here though folks.

    Must consolidate at some point.

    Be prepared!
  9. kennas's Avatar
    And it did halt at that resistance and made it's way all the way back to 12 with the ongoing correcion and POG weakness. Such a shame this isn't going through this stage of progress with a booming market. Would be flying.

    Has recovered since Macquarie has taken a 13% stake which is good and bad. Means they have some more money and have got good insto support, but a takeover will be a little less likely.

    Recovered back up to .175 now with a few decent orders in.

    I'm holding too many....
  10. kennas's Avatar
    emailed AZM last week and got a pretty positive response regarding their future. They are confident they have enough in the bank to go into 2009 and will start drilling again then.

    I've locked in a capital loss containing one too many zeros but offsetting 07/08 cap gains.

    I really like the future of these guys with their land bank and already have 750k oz at good grades at surface after just a year of prospecting.

    Will be back in to this when there's some upward movement and the market seems to have factored all the damage in.

    I would have held long term but have taken the opportunity to lock in a loss at this moment of uncertainty.

    Ready to fight another day.


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