Stocktube video
02/06/2011

John Lawton at Auzex Resources believes there’s a 30-40% undervaluation

View full size
Additional Information
Market: ASX
Sector: General Mining - Gold
EPIC: AZX
Latest Price: A$0.28  (0,00%)
52-week High: A$0.64
52-week Low: A$0.17
Market Cap: A$39.33M
1 year chart
1 day chart
Watchlist/Portfolio

Add to watchlist:

Only registered members can add into watchlist !

Register here !
Auzex Resources
www.auzex.com

Auzex Resources (ASX:AZX) major project is the 50%-owned Bullabulling gold project, located 65km from Kalgoorlie in Western Australia. The project area has a proven history of discovery and new exploration techniques are leading to new discoveries.

Pdf

Auzex Resources raises $3.2 million for Bullabulling Gold merger

30th Nov 2011, 2:56 am

Auzex Resources (ASX: AZX) has raised $3,203,625 to go towards the company’s merger with GGG Resources (ASX: GGB; AIM: GGG) which will form a new company, Bullabulling Gold.

The merger is expected to be completed by February 2012.

Auzex raised the money through a fully underwritten 1 for 5 renounceable rights issue which was offered at a price of $0.24 per share.

A shortfall of $1.4 million will be covered by the underwriter for the placement, independent financial services group BBY Limited.

This placement is part of a broader $8 million capital raising, with the successful placement of 14.3 million shares at $0.24 in October raising $3.4 million.

Once completed, the raising will fund the development of the Bullabulling Gold Project through to the completion of the merger with GGG.

The project is strategically located 65 kilometres southeast of Kalgoorlie in Western Australia.

At the end of the September quarter, Auzex had cash of $1.39 million.

Bullabulling Gold merger


The merger, announced earlier this year, will combine the 2.6 million ounce Bullabulling gold project under a single corporate entity.

The project is currently held in a 50:50 joint venture.

Bullabulling Gold will be Australian domiciled and listed on the ASX and AIM markets.

The deal will create an advanced exploration and pre-development gold-focused company.

No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.