Thanks for your contribution CC.Always appreciated.Good luck...

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Luck101

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17/05/23

16:03

Post #: 67825227
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Originally posted by candidcamera: ↑

Thanks for that Onceover. I agree with your last point, that the market can stay uninterested longer than investors can stay solvent. It's one of my guiding principles. Problem is, it goes for companies as well as people. AZY could well enter administration when the money runs out by the end of the year. By that point, without a massive discovery and massive increase to their MRE, their ability to do a CR is doubtful. Forget the amount needed to build a mine, they'd struggle to raise the money for normal operations. At that point, insolvency becomes a threat.

To my thinking, the company is a sitting duck waiting for a takeover at a very low price. Even if they can somehow find enough money to keep going, a mine is very unlikely. A bank won't lend much to a micro-cap. The SPP component of a CR would be more under-subscribed than the last one, and I doubt a placement would do well either. It's in the interests of a suitor to see the company's price go down, so there’s at least one beneficiary of a sinking share price. Even if both were fully subscribed, the price at which a CR would need to be offered, together with the billions of new shares, would make the shares worthless.

I went into AZY on the basis of the potential of their resources and started selling when it became clear the market was not impressed. The trifecta of grade, depth and volume just isn't there, at least going by the current MRE. There are instances of two out of three, like good grade at good depth, but not the volume. Or good volume at good depth, but not the grade. Without all three together, I can't see a turnaround in the share price.

Anyway, my interest is now just for its own sake, as I'll be out of AZY – and all trading! – on 30 June. It's a milestone for me after 25 years of involvement in the stock market, but I've now achieved my financial goals. I'm not a superstitious man but it’s tempting fate not to stick to the plan. Many thanks for your comments throughout my stay in this stock.

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Thanks for your contribution CC.Always appreciated.Good luck with your future.
Its a sorry state,A mine developed by AZY is a pipedream.
It has one chance.Listing in Aus by greatland and then take over by Greatland.
Maybe a second chance-drilling success.But thats unlikely based on results.

AZY Price at posting: 1.5¢ Sentiment: Hold Disclosure: Held
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(20min delay)
Last 1.1¢		Change 0.000(0.00%)		Mkt cap ! $51.81M

Open	High	Low	Value	Volume
1.1¢	1.1¢	1.1¢	$39.30K	3.572M

Buyers (Bids)

No.	Vol.	Price($)
49	19147675	1.0¢

Sellers (Offers)

Price($)	Vol.	No.
1.1¢	1550976	4

View Market Depth

No.	Vol.	Price($)
48	19047675	0.010
25	10894566	0.009
12	6090590	0.008
5	2322000	0.007
3	2525000	0.006

Price($)	Vol.	No.
0.011	1550976	4
0.012	13978322	20
0.013	8467216	8
0.014	3785505	7
0.015	3917599	7

Last trade - 10.25am 05/08/2024 (20 minute delay)

AZY (ASX) Chart

Thanks for your contribution CC.Always appreciated.Good luck...

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Thanks for your contribution CC.Always appreciated.Good luck...

Top Stories

Larvotto posts PFS for Hillgrove, suggesting low-cost, high-grade operation

Carnaby announces new discovery but some HotCopper users not so sure

Structural Monitoring Systems' Boeing-led sensor tests successfully completed

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