Azure Minerals Limited

ASX:AZS
Deleted on 2024-05-12 00:30:04

Azure Minerals Limited

ASX:AZS
Deleted on 2024-05-12 00:30:04
$3.69 (0%)
Last close price
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Forum Topics AZS AZS 120 million dollars

Pinned straw:
edgescape
Added one year ago

Crazy amount of money here - $120 million dollars. I'll need to go back in history and see which companies have had bigger raises than this for sub 1 billion dollar cap companies.

Azure Launches $120 Million Two-Tranche Placement and $10 Million SPP

*Azure launches underwritten $120 million two-tranche institutional Placement. Tranche 1 of the Placement is set to raise approximately $100 million and Tranche 2 of the Placement, which includes shares subject to shareholder approval, is set to raise approximately $20 million.

*Strong support received from Azure’s major shareholders, SQM and Creasy Group, who have each committed to participate pro-rata in the Placement (SQM currently has a 19.98% shareholding but intends to top-up to 19.99% post completion of the SPP).

* Opportunity for eligible existing shareholders to participate via a non-underwritten SPP to raise up to a further $10 million at the same price as the Placement ($2.40 per share).

I bolded the words non underwritten but I have a funny feelling that has got to be a positive since we don't have a underwriter and also it will probably be oversubscribed. Again not a recommendation to take the shares.

[held]
CanadianAussie
Added one year ago

NVX in 2021 raised over $130 million.

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edgescape
Added one year ago

Feb 2021 I think. Around 110m. The world has changed around it with lots of different battery developments (Marketindex)

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As always there will divided opinions towards tech or lithium with tech being strongly biased here.

That is if you are a tech company with a good product or service you have pricing control as opposed to Lithium which is governed by market supply and demand, processing, labour etc. And possibly years away from producing

So it then follows AZS is worse value than say a good quality tech stock.

But the counter-argument is I think this Andover discovery is really more about economies of scale which allows some workarounds around pricing and costs. And I have a feeling it's getting harder to find big discoveries that can "compete" with Andover or Kathleen Valley

Herein lies the competitive advantage. Until the next big discovery is made that "obsoletes" Andover which could be years away, even with AI being used to drive discoveries as you still need to get on the ground and drill.

As usual these are my thoughts. I hope others will share as it is too quiet here.

Threw caution to the wind and put in SRL so AZS gets a bit of attention here and nothing more than that.

In my opinion I wouldn't buy at 2.87 as it is a bit too expensive versus the CR price of $2.40.

[held]

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