Hi all, I note that Azure Minerals (AZS.ASX) is going crazy at the moment, and for good reason. People are seeing the upside in its high grade project, with strong expectation that it is going to turn its marginal project into a long term sustainable mine, with very lucrative returns. The stock is trading at resistance levels, though I would be inclined to hold on, as I think they have more upside.
I think I first highlighted the potential of this stock back on the 26th Feb 2008 based on their geological exposure. Sadly I have not been following them of late. I focus was their silver potential, which has been less prominent. Nevertheless, the other attraction is that a number of other companies are earning a stake in their projects, so fear not for a capital raising.
They will probably struggle to break 7.5c, so you might want to profits, but why bother when your short term support is likely to be 6c.
Interesting I was thinking to trade AZS today at 6-6.3c this morning, but I was distracted by another stock that caught my interest. Will tell you more after I have assembled my stake. :)
--------------------------------------------Andrew Sheldon www.sheldonthinks.com
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