Ann: Azure Secures 100% Ownership of 32Moz Silver Project, page-19

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dolcevita

30,399 Posts.

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29/08/19

11:55

Post #: 40216806
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Originally posted by Nihilius: ↑

Good to see you happy and positive. I'm very happy with todays performance as well, I thought we'd only get to 15 today, but we closed at 16 with the market depth showing 1 share left at 16, and the rest at 16.5. Nearly being 10% wrong in the right direction is a good feeling.

I'd very cautious around any new JV partner for Alacran, every bit of trouble AZS has gotten itself into over the past 10 years has been JV partners dragging their feet and having some say or control over things.

Rio making Prom be a nothing venture after years and years of sitting on it and telling no one anything and preventing AZS from saying anything either, Teck dragging Alacran out for 2 years and only adding a couple of targets and collapsing the share price when they bought back in while all the while telling no one anything.

If they JV I would want complete and utter control with 0 back in rights, 0 chance of interference and literally just have money thrown at them for a return on the JV partners investment. Anything else would just cause more of the same.

Ideally I want positive cash flow from the trial mine at Oposura finishing the DFS for the full scale mining, and further gold/silver exploration at Alacran to spike the share price back to the well above the pre-consolidation price when Alacran was hot 2 or so years ago. Then a capital raise from members.

I think thats more than reasonable because there's no longer the risk of Teck taking the project, there's a wonderful gold and silver run, Tony seems supremely confident there's more gold and silver at Alacran after Tecks scans and drilling information was shared, Promo's cascada gold is now probably worth looking at again and Oposura exists and is already providing positive cashflow (allegedly, we'll find out for real in September) and heck we even have that random plot of cobalt that sent the world nuts for a week, if they can lotto that land around it, it could be worth something too.

A good project specific capital raise for Oposura that minimally dilutive and then Oppo mining to fund Alacran sounds reasonable and good to me without the need to risk Teck or Rio taking over again and us losing all control and momentum that they've managed to build themselves.

TL;DR
Yay Mr Red is happy.
JVs scare me, i blame all bad things on lack of control from the JVs
I'm very happy with todays progress. Onwards to the 20s tomorrow

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Yes, Teck are hanging around for a share in the proceeds, but they've been lead in the saddle for a long time.

Big companies always think they know best.

AZS Price at posting: 17.0¢ Sentiment: Buy Disclosure: Held
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