RE:RE:RE:WarrantsAshram,
You are certainly entitled to sell your shares if you feel that AZX has nothing in the ground and its stocks would have no chance to recover from the current level, noting there is no sell-off. For example, yesterday TSX-V volume was 83k, so it would take quite a few trade to unload a block much larger than the daily volume. In fact, you would need to do the selling quietly, since the moment the market sees that somebody is willing to unload, the bid will instantly drop. In other word, do not advertise the fact that you want to sell at a loss. The sharks would smell blood.
From now until the Special Meeting, do not expect the SP to change much, unless AZX has some significant news out. Eric Sprott spent $2M (at $0.06/s) and AEM paid $0.20/s a few years back, but they are not losing any sleep over the current $0.04/s (which is pretty much artificial due to price manipulation).
As I see it, the major shareholders like AEM and ES have their own scheme to sort out AZX, and the sequence would be as follows (my guess, of course).
1. Get a clean slate for the BoD (get rid of EO, since he has to be removed by shareholders).
2. Shore up AZX Treasury. Expect some sale of non-core assets and perhaps a small PP. ES may want to invest a few more million. He's a billionaire, hence a few million is just a drop in the bucket. He gave $10M to Carleton U. to set up Sprott School of Business. He's 73-74 years old and at this stage of his life he would want to preserve his good name for the sake of the wife and children. Good reputation is important to him, so he's not expected to come in, tear a company apart, just to make a few bucks, or just walk away and suffer a loss for his investment (he's in the business of making money, but in an honest way). Similarly, Sean Boyd, AEM CEO also has a good reputation, basically a good dude.
3. A new CEO for AZX would steer the AZX ship in the right direction, and the SP will head north, when it goes past 0.09, then ES will consider exercising his 33M wts. My timeline would be about 1.5 years, at most.
There are other variations for AZX, merger, JV, etc... But based on the stuff in the ground (currently some 2.4MozAu Eq) AZX is worth a lot more than 0.04.
That would be my take. Feel free to speculate.
GH
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ASHRAM wrote:
no hope left they should sell the company on july 24 at any price.why they want to hire new management spend and keep burning money after two years our market cap will be nothing. schmoby post this stock is toast.he is 100% correct.I start selling small amounts with looses.