well it was inevitable that Azure was about to do a capital raise any moment... not like we all didn't expect it...
yes there seems to be the typical play in the SP to get the VWAP up as usual.... every CR that Azure does has this same momentum prior to a CR...this time around not as many fell for it... still the SP has done over 150% since recent 12 month low, and on the 18th of May we had the largest volume day in the 12 month period...
from the announcement:
The back-to-back trading halt is requested pending the release of an announcement by the Company regarding a proposed capital raising and a project acquisition lets decipher this a little, as its all we have, long time by the way to be in a trading halt...
back to back halt, meaning that there is 2 sensitive announcements to be released, obviously the CR and then the project acquisition..
Acquisition Project usually means
a Facility purchased by a Borrower from a third party as a Completed Project or such a Facility that a Borrower has arranged to be purchased in a Synthetic Lease Transaction and which, in either case, is not a Stabilized Project.So who knows exactly what Tony has up his sleeves... either way I will say this, I cant see any shareholders taking part in any form of CR if there is nothing solid in play regarding generation of revenue, due to the reputation of this company it would need to be guaranteed revenue at best,,,
IF the Germans lay out more money again, then they would have a controlling vote over all shareholders moving forward as they will easily be holding above 51% of the share register... They pretty much will own the company
Surely we are not going to buy or acquire another tenement, that will be taking the piss out of shareholders... I think we need some serious updates to what is planned in the short term for our existing tenements...
according to the Azure website Tony still class's Oposura as the "flag ship" project... if this is the case why has Alacran taken so much focus, Opo should have pathed the way to fund exploration and our heavy cash burn due to over paid management... but Opo seems to be a dud... lets look at these projects:
ProjectsFlagship project:Other projects:Oposura: is an advanced-stage, high-grade, massive sulphide-hosted, zinc-lead-silver deposit with a current JORC Mineral Resource of
3.1Mt @ 5.0% Zn, 2.7%Pb & 18g/t Ag. Azure is aiming to bring this project into small-scale mining and toll treatment production in 2019 and stand-alone, full-scale production by mid-2021.
yet we haven't seen any sales that show confidence here... this project Tony made alot of promises about, time frames got pushed out, and there were a lot of talks about offtakes and presales, what happened to them? and dont say covid, as this was way prior to that..
Alacran: Azure discovered two outstanding epithermal silver and gold deposits – Mesa de Plata and Loma Bonita – which together host resources of 32Moz silver and 150,000oz gold. WE know that Alacran above all the other projects has the most value in the ground to date, so stuff knows why this isnt classed as the "flag ship" project...
IMO all other tenements are a near flop and have proven to be a waste of multi multi millions of dollars.. they are basically worth land value, as why would any one buy them to mine or continue exploration if we cant do anything with them???...
All I can say is that Tony will need to bring something really worthy to the table this time, better not be another tenement requiring more drilling, market is over that.... this company needs revenue making projects moving forward... IMO Tony should have focused on making Oposura profitable due to the stage its at, with the revenue progressed Alacran with further drilling and in hope gained a serious JV to mine Alacran...
If Tony thinks current retail shareholders are going to help fund another exploration of another tenement then he is dreaming.... all CR's here are quickly followed by a rapid decline in the SP... the last CR was done at 17cents, I dont even think those that participated had even a few days to cash in at a profit, the SP fell below the 17cents rapidly... history here is the same over and over... however this time round has to be different, surely no one is gullible enough to fall for the same old play again?...
Tony needs to bring something game changing to the table this time around... cant see it happening to be honest... hasn't happened in over 16 years, sure there has been some exciting opportunities here, but nothing has come to fruition to bring value to shareholders...
Im not into once liners obviously, I cant be bothered with childish talk of retaliation calling the company names etc etc... but I honestly think this is Azures last chance, who is going to fund these guys from now on in, not I, that is for sure...
current shareholders only hope is that the announcement due, has some real meat in it that offers strong revenue in the short term... other wise this is going to retrace to all time new lows in a blink of a eye...
