Next to no sellers for AZZ!! What a great performer this has been over the last 12 months! As solid as a rock going forward... if these guys are able to achieve their aim of having 10 wells drilled, fracced and in production by the end of the year, I believe we are seriously looking at $3-4 in the medium term.
I'd predict that further drilling has well and truly commenced given that they had secured the utilisation of the drill rig on site for the remainder of the year, and secured Halliburton for well fraccing. Delays will occur no doubt, however they seem to have taken all necessary precautions to ensure they will not have issues with contractors stalling them. Looking forward to getting drill updates soon.
AZZ Price at posting:
76.0¢ Sentiment: ST Buy Disclosure: Held