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AUZ - AUSTRALIAN MINES LIMITED


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In reply to: Gadget on Sunday 02/07/06 01:58am

What you say is true enough.But I spent some time going back through some of their asx announcements and I couldn't find any figures too even come close to the 12.5% Ni content that has already been released.Which means I guess that Blair mine has been operating a long time and making a profit all that time on much less than what there about to mine now.If only we had an estimate of how long they can mine that so we could put to gether a revenue projection.My guess is we would already be seating on a very healthy profit.My word what I'd give for some clarity for the market.You know I might even get of this blokes case.

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Here's hoping if we don't get the assay results today, we get clarity of time frame the 12.5% Ni content will last! The 300 to 400 percent increase in revenues estimate of mine seems to stand up historically, I went back through the asx announcements a fair way.Blair mine hasn't operated with anything like 12.5% Ni content for a long time if at all and has been making money.During the march financial quarter they averaged 2.86% Ni for 4.5 million in revenues if they were to average 12.5% Ni content we could expect 19.67 million dollars in revenues most of it pretax profit I think.Could seriously consider acquistions then( has stated previosly he wants to do this), join a few of the smaller gold ventures into something really worth while.The results this week could really set this one up I reckon.
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In reply to: dan.heath on Monday 03/07/06 08:57am

Dan

 

You post quite a lot on AUZ so you really should get some of their fundamentals right!

 

AUZ haven't been making any profit. Some quarters have been positive but overall it to date has been a losing proposition. Why do you think they did the massive rights issue at 2c????

 

Of course it should be a positive quarter coming up...

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In reply to: Mookie on Monday 03/07/06 05:54pm

Financial quarter 06 Final price recorded 90 day adjusted Ni price recieved A$10.06 per pound ,Total cost with capital devt A$8.99 per pound .Looks like a profit to me.Capital raising had more to do with costs incurred with drilling at their gold prospects.Blair mine is making a profit ,small at the moment but a profit and the figures I have used are the march quarter 06.And your right about the June quarter 06 is expected to be better than the march quarter.I think before critising one should get their own facts right.

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In reply to: dan.heath on Tuesday 04/07/06 12:12pm

Hmmm..... Auz lost quite a lot of cash during mining operations last year with Barminco as operator. Blair is a high cost mine so when the Ni price dips it ceases to be economical. They just mine to keep staff etc going until the next upswing in prices. If prices had stayed at sub A$15k like earlier this year AUZ would by now have closed Blair and flogged off all assets to cover debts and try to remain afloat as an explorer. Most likely would have been in receiverhip as they could not play the rights issue game again as any further dilution would drop the share price to junk level!

 

We are just very lucky to have hit good grades and timed it with a good spot price. Hopefully the luck will continue with economic gold grades and some big Sulfide hits for Pioneer

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In reply to: MrGreedy1 on Tuesday 04/07/06 11:40am

Yes so it is making a profit now .Plenty of luck needed in all mining me thinks.This quarter it should improve after 3m at 13%Ni anouncement last quarter and recent announcement of the 12.5% Ni ore over 9meters should improve the situation again.

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