dcm selling wim 150 assets!

Just done my weekly check up on DCM the majority shareholder of AZC to realise that they are undergoing a massive restructuring due to a large debt of €250 million.

It looks like the banks have pulled the plug on their trading company and are forcing them to sell off their asset which includes (AZC) the 80% stake in the WIM 150. The dead line for the sale of the WIM assets is autumn 2013! All of this is no secret and is now all over the Internet.

As I have banged on about in previous posts OZC bailed AZC out not too long ago and after their “no prejudice” meeting everything seemed to run smoothly, so I can only assume they are on good terms.

OZC make no secret that they want the WIM 150 assets and my guess is that they are going to get them, all 100%. The news article was in German because DCM are an Austrian company so I google translated it below.

You never know OZC and APG might be working together on this one and one day we might be partners of some kind. That means I’ll be standing at the bar at your next AGM with the best poster on here, Penny, I can’t wait for her to “moderate” me again but this time over a pint of Newcastle Brown and a bag of salt and Vinegar, if you play your cards right pet!

Here’s to another AZC roller-coaster, enjoy...

Fürstenfelder DCM DECOmetal withdraws from Australia
The Styrian commodity trading and mining company DCM DECOmetal rows back into its core business. Albania currently a
Looking for a strategic partner to advance the ongoing degradation.
After-million investment abroad including Australia and the associated difficulties following the collapse of the markets in the
recent years, the Fürstenfelder DCM DECOmetal rethink their business. Holding managing director Gerhard Kornfeld confirmed
said a report on the "Economic Journal" (Monday edition) and that among other things for the zirconium business Down Under an Exit
sought will.
Strategic partner sought
The Styrian commodity trading and mining companies had to for his activities in Albania in search of a strategic partner,
promote the ongoing depletion in the Chromerzmine in Bulqiza. A new shaft by 15 million euros, the useful life of the mine
extend to 20 years, this one will build irrespective of a possible new partner. Kornfeld wants to restructure the entire holding and
reflect on the meaning of so many investment in recent years. In terms of expansion, particularly in new areas of business such as
Zirkonabbau row back he wants anyway.
That it had taken in the past years, the managing director wanted to set up in April in an interview with the Austrian Press
Agency does not deny. About investments in Australia are difficult because it is not as Albania "just around the corner" is. And it shall also be the
Zircon local business with Australian Zircon NL with a clear exit - be ended - as in autumn 2013. The craft was a very
Another: "We want to refocus on the core business."
For its operations, the trade that he had seen "reasonable numbers" in the second quarter of 2012. The granted during the restructuring
Bridging loan could be operated and run from mid-2013. Until then, just to one or another asset to be sold - including the
Australian mining company Stirling Resources roof. But first, one must develop this to get a better price.