azc(stn)any one follow?

  1. 436 Posts.
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    Anyone follow AZC ( was STN) ?

    Zircon is forecast globally at annual 70k tonnes pa deficit for foreseeable future., hence the USD lift in prices from $ 300 to 600+, with spot sales reported over $1000.
    AZC is about to mine the Mindarie project in SA's Murray Basin, have sold all the 43000 tpa Zircon, at US$500+ , plus the offtakes of rutile, ilminite and rutile for over $ 30m of committments.(costs est. @ $60m)
    Final credit approval from CBA is awaited early 05. Total mine life expects surpluses of nearly $200m over 10.8 yrs, with 150m bits of paper on roughly 7cps for 11 yrs. According to the AR they also have a substainal additional exploration/permitts to be explored.
    The market made a real fuss over Illuka's Zircon "discoveries", which will take 5 yrs to produce, yet AZC is producing by end of 05 and ignored?
    Anyone shed any light??
    Obviously, I hold!
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