Break out happening, page-512

It would seem the following points might be relevant: –

*Newcrest already own a substantial blocking stake – 9.88 but let’s say 10%.

*In reality it’s only Newcrest that can launch an effective take over of AZY.

*Does Newcrest require the Minyari ore for Telfer.If so WHEN?

*Yes by delay they run the risk of a major Hav type discovery which would cause the share price to increase.

*Even for AZY Telfer is the obvious treatment plant.Readily available to generate cash.

*AZY will struggle to raise money at present to build another plant -it would be so obviously superfluous given the existence of Telfer.

*Only a Hav type discovery would immediately force Newcrest to move and/or give AZY the leverage to raise a substantial amount.

These are some random thoughts-most probably wrong- and I've not tried to arrive at some conclusion as to where that leaves AZY.