Thanks Gwaihir, the formula is so complicated, confused...

Thanks Gwaihir, the formula is so complicated, confused me.

Towie, what do you mean what happens to AZX shell?

Basically, there are two companies: Auzex Resources and Auzex Exploration. There are now different.

Auzex Resources is merging with Bullabulling Gold (formerly GGG Resources), so Auzex Resources upon merger approval will delist and become a 100% subsidiary of Bullabulling Gold (ASX code: BAB). (is this the shell you are talking about)

Auzex Exploration Limited, which holds all of AZX's assets except the 50% interest in Bullabulling project, is now an unlisted company. But it will apply for listing via an IPO around mid-2012.

Who knows Auzex Exploration Limited will probably get the same ASX ticker code: AZX.