Well Auzex managed to stall the takeover by promising everything to the funds that own it in upside (which is why baker Steel did not accept at the time) and delivering little - it wont take long before the fund managers lose patience with the AZX management team and demand some action. The share price has lost 30% since I began following it, which makes me a chump but I feel a large part of this has been caused by AZX's management team which in my opinion have failed to follow up on the impressive resource figure and caused their stock price to slip down the rating ladder through lack of marketing. Through concentrating on the takeover they have missed an opportunity to make money for their shareholders and I hold them to account for it.
AIM is recovering quicker than Australia due to our ridiculous politics at the minute and I think GGB will be back at a solid premium to AZX and be able to close this deal. All speed to them.
AZX Price at posting:
49.4¢ Sentiment: Buy Disclosure: Held
