APG forum is full of bad blood over the Wim 150. As far as I am concerned there was no payment or execution of an option by OZC to take control of the Wim 150. I don’t believe that AZC have to announce when the option date (when not executed) expires, doesn’t make sense. It expired in April 2012 so why would AZC sell the 35% stake in the JV and the Wim assets for cash leaving them totally empty handed? AZC is no longer in administration and has shareholders with big bucks invested, everything is pointing to it being once again a going concern.
A simple shareholder only gets to see what they want us to see but selling the 35% JV could be a great move on AZC’s part or maybe they just needed the cash for BFS. It proved to be a hard slog to make a massive loss on the Mindarie Zircon Mine so to make a profit could be a long shot. Maybe AZC know something the Chinese don’t?
The Wim 150 on the other hand could prove to be a real gem or maybe my head is in the clouds again. APG shareholders are really pissed to lose it so it must have some value. Some are valuing it now at AUD 45-50 million (I assume in years to come the price will be a lot more) but a mine with a life span of 25+ years and an upgrade in the bag it’s a dirty business but just maybe things are on the up for AZC!
Any feedback would be great my other posts have had 60+ views so I’m not alone, cheers.
Add to My Watchlist
What is My Watchlist?