AUZ 5.26% 0.9¢ australian mines limited

Significant paper loss in last 90 days , but being a long term...

  1. 179 Posts.
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    Significant paper loss in last 90 days , but being a long term holder & await patiently for AUZ team to get to the post BFS stage & focus on Flamington .
    Confused on why some of the big parcel holders letting the stock go and drifting price down and retailers following their league . Being a big believer in the AUZ story I kept buying since the carnage started and pondering what next and for how long the push down is for ...
    Some of the points which helped me feel better to keep my Hold sentiment ,
    - AUZ raised approx $2mn for demo plant @.008 . Obviously the investors enjoyed and saw there investment go up by 18-20 times in 14 months and I assume they would have liquidated a bit of their position .
    - AUZ raised $20mn @.085 from investors almost 10 months ago , it was a welcome news and AUZ utilised those funds for progressing on Sconi and getting us through the Off take agreement stage and Delivered the Samples . Also, small but positive progress on Thackaringa exploration and Sconi & Flamington acquisition .
    - Also, allotted shares to MLM as part of Sconi acquisition by end of June .
    - recent agreement to raise $12 mn from Bergen for finalisation of Flamington payment .
    - The one agreement which is pending is SKI options at 12 cents & is most likely a go ahead if they tick off all the boxes which looks like they are on track.
    I guess all the strategic deals above added shareholders value some lucky punters who are non emotional to Stock code may have exited after multiplying their money as trading range has been between .012 to .155 in last 12 months . Some punters are long term and will just keep on holding and will either take dividends or exit once it’s into production & some punters ( including me) are impatient , emotional and like playing with the fire . They more they trade the more they make or loose depending no how many successes they get .
    I feel we now have Share register with holders entering the stock in the price range of .012 to .155 and also some large allotment holders for much needed deals ( or otherwise we wouldn’t be having Sconi , Flamington or processing plant or off take partners ) along with management and top shareholders .
    Share price drop may be due to few of the huge parcel holders playing their game or just off loading due to change in their internal strategy or just a matter of fact that they had multiplied their money and are moving on to something else and retailers panicking adding to the bear sentiment .
    What may happen next is few big investor groups may give a green light to Buy and we may have more clarity on BFS and Funding situation& SKi exercising their options , giving confidence to retailers and some of those who exited positions to be safe may re enter and that will push the price up .

    Good luck
    Trader guy
 
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Last
0.9¢
Change
-0.001(5.26%)
Mkt cap ! $12.58M
Open High Low Value Volume
1.0¢ 1.0¢ 0.9¢ $16.19K 1.620M

Buyers (Bids)

No. Vol. Price($)
20 2868655 0.9¢
 

Sellers (Offers)

Price($) Vol. No.
1.0¢ 4365180 22
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Last trade - 11.25am 22/07/2024 (20 minute delay) ?
AUZ (ASX) Chart
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