Why did Newcrest relinquish Minyari?
At the time they were planning to sell Telfer (they've since changed their mind on this). Gold stocks had been doing it tough for some time. Sentiment on gold was still bearish. They needed to reduce debt.
Around the same time they were also reducing their investment in EVN. Reduced their holding in EVN in February 2015 from 32.3% to 14.9% at 85c per share. Reduced again in Sept 2015 for $1.125 per share and sold the rest around 1 Oct 2015. EVN is trading today at $2.30, nearly triple what they sold for just 15 months earlier .
That they relinquished Minyari isn't any reflection on the asset I don't believe but of their decision making at the time. At times of significant lows come opportunity and AZY directors did well to snaffle up this asset for free.
Time to buy in, page-32
-
- There are more pages in this discussion • 119 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Add AZY (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
1.2¢ |
Change
0.001(9.09%) |
Mkt cap ! $56.52M | |||
| Open | High | Low | Value | Volume |
| 1.2¢ | 1.2¢ | 1.2¢ | $42.55K | 3.551M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 26 | 14226218 | 1.1¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.2¢ | 12565248 | 15 |
View Market Depth
| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| AZY (ASX) Chart |